601 Camrose Dr · Charlotte, NC 28215

$165,000

2 bd · 1.0 ba · 896 sqft · Condo public records · 110 Days on market

Built 1963 $108/mo HOA · 6% of rent

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +20.0/30.0
• ARV discount +7.5/15.0
• DSCR +6.3/10.0
• 1% rule +5.1/10.0
• Livability +3.9/5.0
• Schools +3.8/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming brick condo with 2 bedrooms and 1 bathroom, move-in ready and ideally located just off The Plaza. Enjoy a private, wooded backyard from the rear patio, perfect for relaxing outdoors. Short walking distance to Eastway Regional Recreation Center, shopping and restaurants. Motivated seller, please present all offers! Please make sure all doors and windows are locked and secure before exiting property. Make sure blinds are closed and lights are off.

Key facts

• Rear patio
• $108 HOA
• Built 1963

Tags

• PRIVATE WOODED BACKYARD
• REAR PATIO
• SHOPPING AND RESTAURANTS

Property features AI

Finance

• Other: Pets not allowed
• HOA & community: HOA required and mandatory; Monthly association fee of $108

Exterior

• Parking: Driveway
• Utilities: City water; Public sewer
• Home design: Residential condominium; Site-built construction; Brick full exterior; One story; Crawl space foundation; Zoned R22MF
• Construction: Site-built; Brick full exterior; Crawl space foundation
• Exterior features: Concrete road frontage; Publicly maintained road

Interior

• Kitchen: Oven; Refrigerator; Disposal; Gas water heater
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Central heating; Central air; Gas-powered cooling components
• Interior features: Attic pull-down stairs; Storage; 6 total rooms; Entry level is 1
• Laundry & utility: Laundry in hall on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $165k.

Deal economics

• At list price, monthly cash flow is $201 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $150k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 3.1% in Charlotte — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 78/100 on livability (#26 in NC, #2,502 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A+; Watch: crime F.
• Charlotte-Mecklenburg Schools (urban): math 42% / reading 46% proficiency, ranked #85 of 178 in NC (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Briarwood Academy (math 28% / reading 22%, grade F, #1,101 of 1,410 statewide, top 79%, 655 students, 99% FRL); Martin Luther King Jr Middle (math 11% / reading 20%, grade F, #456 of 475 statewide, top 96%, 931 students, 100% FRL); Garinger High School (math 47% / reading 25%, grade F, #424 of 535 statewide, top 79%, 1,677 students, 100% FRL) — zoned schools average 100% FRL vs 49% district-wide (51 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 26% at this address vs 44% district-wide (-18 pts) — the specific schools serving this property underperform the Charlotte-Mecklenburg Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.8%/yr); 566 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 11,969 units permitted in Mecklenburg County in 2024 (5,377 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Mecklenburg County population projected at +53% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 110 days — a 9% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 12122% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $32k; list at $165k implies a 416% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 26% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $150,150 (9.0% below list)

Questions for the listing agent

1. It's been on market 110 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.01% ✓
• Cap rate: 7.76%
• Cash-on-cash: 5.23%
• DSCR: 1.23
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.76% rent growth · sell at horizon

5-year hold

• IRR: -9.6%
• Equity multiple: 0.65×
• Total profit: $-15,954
• Equity at exit: $24,602

10-year hold

• IRR: -1.9%
• Equity multiple: 0.88×
• Total profit: $-5,569
• Equity at exit: $14,266

Cash invested: $46,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 85 Strongly Landlord-Friendly
• State North Carolina: 85 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

10-day notice; preempted; landlord-favorable but court speed varies.

Methodology + full state rankings →

ZIP-level market 28215

• Rents YoY: 1.8%
• Active inventory: 566
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,673 high
• Mortgage (P&I): −$865
• Tax from tax record: −$78 /mo · $934/yr
• Insurance: −$69
• HOA: −$108
• Vacancy / Maint / Mgmt: −$351
• Net cashflow: $201

Break-even live

Break-even rent $1,418

Max offer price $165,000

Occupancy floor 83%

Sensitivity live

Price	-10% $295	-5% $248	+0% $201	+5% $155	+10% $108
Rent	-10% $69	-5% $135	+0% $201	+5% $268	+10% $334
Rate	-1.0pp $285	-0.5pp $243	base $201	+0.5pp $159	+1.0pp $115

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
638 Vanderbrook Rd Charlotte, NC	3.0	1.0	1092	$1,775	$1.63	17d	1	0.13mi
5005 Community Cir Charlotte, NC	1.0–3.0	1.0–2.0	915	$1,602	$1.75	25d	18	0.19mi
5005 Community Cir Charlotte, NC	1.0–3.0	1.0–2.0	915	$1,552	$1.70	0d	34	0.19mi
4413 Eaves Ln Charlotte, NC	2.0	2.5	1084	$1,650	$1.52	17d	1	0.23mi
731 Harwyn Dr Charlotte, NC	3.0	1.0	1066	$1,575	$1.48	25d	1	0.25mi
4928 Malibu Dr Charlotte, NC	2.0	1.0	975	$1,475	$1.51	21d	1	0.28mi
4239 Dinglewood Ave Charlotte, NC	3.0	1.0	900	$1,850	$2.06	25d	1	0.38mi
5001 Lakecrest Dr Charlotte, NC	2.0	1.0	1000	$1,600	$1.60	17d	1	0.44mi
5003 Lakecrest Dr Charlotte, NC	2.0	1.0	1000	$1,600	$1.60	17d	1	0.45mi
1131 Glenfiddich Dr Charlotte, NC	1.0	1.0	650	$1,095	$1.68	9d	1	0.45mi
4207 Dinglewood Ave Charlotte, NC	3.0	1.0	950	$1,349	$1.42	17d	1	0.46mi
1913 Finchley Dr Charlotte, NC	3.0	1.0	958	$1,545	$1.61	0d	1	0.47mi
1930 Terrybrook Ln #1 Charlotte, NC	3.0	1.0	825	$1,495	$1.81	25d	1	0.58mi
5101 Glenview Ct Charlotte, NC	3.0	1.0	880	$1,500	$1.70	0d	1	0.67mi
4325 Raleigh St Charlotte, NC	1.0–2.0	1.0–2.0	1005	$1,920	$1.91	6d	25	0.69mi
1827 Academy St Charlotte, NC	2.0	1.0	700	$1,395	$1.99	25d	1	0.75mi
1825 Academy St Charlotte, NC	2.0	1.0	700	$1,350	$1.93	25d	1	0.76mi
1735 Academy St Charlotte, NC	2.0	1.0	747	$1,249	$1.67	0d	1	0.81mi
2019 Aberdale Farm Ln Charlotte, NC	2.0–4.0	2.0	1119	$1,250	$1.12	6d	1	0.82mi
3520 Byrnes St Charlotte, NC	3.0	2.5	1056	$1,649	$1.56	9d	1	0.90mi
4101 Raleigh St Charlotte, NC	2.0	1.0–2.0	910	$2,356	$2.59	0d	160	0.92mi
411 Lambeth Dr Charlotte, NC	1.0–3.0	1.0–1.5	826	$1,350	$1.63	15d	1	0.92mi
2627 Dora Dr Charlotte, NC	3.0	1.5	1060	$1,950	$1.84	0d	1	0.97mi
1320 Anderson St Charlotte, NC	2.0	1.0	756	$1,895	$2.51	25d	1	1.01mi
1240 Merrick St Charlotte, NC	2.0–4.0	2.0	1204	$1,250	$1.04	25d	1	1.01mi
3217 Shamrock Dr Charlotte, NC	2.0	2.0	1024	$1,390	$1.36	23d	1	1.04mi
3217 Shamrock Dr Charlotte, NC	1.0	1.0	668	$1,059	$1.59	25d	1	1.04mi
3315 Erskine Dr Charlotte, NC	2.0	1.0	775	$1,700	$2.19	21d	1	1.05mi
3630 N Davidson St #3313 Charlotte, NC	1.0	1.0	967	$2,150	$2.22	13d	1	1.12mi
3630 N Davidson St Charlotte, NC	1.0	1.0	967	$1,900	$1.96	0d	2	1.13mi
629 Raphael Pl Charlotte, NC	2.0	2.0	1065	$1,750	$1.64	25d	1	1.14mi
601 Kentbrook Dr Charlotte, NC	3.0	1.0	1000	$1,685	$1.69	3d	1	1.17mi
614 Kentbrook Dr Charlotte, NC	3.0	1.5	1104	$1,600	$1.45	6d	1	1.18mi
547 Donatello Ave Charlotte, NC	1.0	1.0	931	$950	$1.02	25d	1	1.20mi
337 Wellingford St Charlotte, NC	3.0	1.0	843	$1,700	$2.02	25d	1	1.20mi
3108 Erskine Dr Charlotte, NC	2.0	1.0	852	$1,425	$1.67	19d	1	1.21mi
3537 Warp St Charlotte, NC	2.0	2.0	1070	$1,800	$1.68	25d	1	1.23mi
3531 Warp St Charlotte, NC	2.0	2.0	1006	$1,750	$1.74	6d	1	1.23mi
3750 Philemon Ave Charlotte, NC	3.0	1.0–2.0	909	$2,135	$2.35	0d	24	1.26mi
1905 Eastway Dr Charlotte, NC	1.0–3.0	1.5	1113	$1,490	$1.34	25d	1	1.28mi

HOA detail condo

• Monthly dues: $108 · $1,296/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-21
   days on market $165,000 Active 110 DOM
2. 2026-06-18
   days on market $165,000 Active 107 DOM
3. 2026-06-17
   days on market $165,000 Active 106 DOM
4. 2026-06-16
   days on market $165,000 Active 105 DOM
5. 2026-06-15
   days on market $165,000 Active 104 DOM
6. 2026-06-13
   days on market $165,000 Active 102 DOM
7. 2026-06-10
   days on market $165,000 Active 98 DOM
8. 2026-06-08
   days on market $165,000 Active 97 DOM
9. 2026-06-07
   days on market $165,000 Active 96 DOM
10. 2026-06-04
    days on market $165,000 Active 93 DOM
11. 2026-06-03
    days on market $165,000 Active 92 DOM
12. 2026-06-02
    days on market $165,000 Active 91 DOM
13. 2026-06-02
    days on market $165,000 Active 90 DOM
14. 2026-05-31
    days on market $165,000 Active 89 DOM
15. 2026-05-12
    listed $1,350
16. 2026-04-16
    price $165,000
17. 2026-03-03
    listed $175,900 Active
18. 1984-03-01
    soldstatus $32,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NC · Resets to sale price

• Current annual tax: $934 · $78/mo
• Projected year-2 tax: $1,353 · $113/mo
• Expected delta: +$419/yr (+$35/mo · 44.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,071
• − Mortgage interest: −$9,243
• − Property taxes: −$934
• − Insurance: −$825
• − Repairs & maintenance: −$1,606
• − Management: −$1,606
• − HOA: −$1,296
• − Depreciation: −$4,800
• Taxable loss: −$238
• Est. tax savings @ 24.0%: +$57
• After-tax cash flow: $2,475/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Charlotte-Mecklenburg Schools
• NCES district ID: 3702970
• Math proficiency: 42% ▼ -6.00%
• Reading proficiency: 46% ▲ 1.00%
• Median HH income: $57,175
• Composite: 38.49/100
• National rank: #4183
• State rank: #85 of 178 in NC

Livability — Charlotte

• Score: 78/100
• State rank: #26
• US rank: #2502

Category grades

Amenities A+ Commute A+ Cost of living B Crime F Employment B- Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Charlotte, NC
• County: Mecklenburg County · 1,167,319 people
• City population: 920,422
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 66,674
• Household income: $71,162
• Rent vs Own: 32.8% rent · 67.2% own
• Severe rent burden: 1952.0

Population outlook (Mecklenburg County) Hauer SSP2

• Today (2025): 1,305,740 people
• By 2030: 1,442,752 · +10.5%
• By 2040: 1,722,441 · +31.9%
• By 2050: 1,999,450 · +53.1%
• By 2075: 2,642,495 · +102.4%
• By 2100: 3,106,755 · +137.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: Black 50% Hispanic / Latino 23% White 21% Two or more races 7% Asian 3%
• Hispanic origin (detail): Mexican 8% Puerto Rican 1% Dominican 1%
• Common ancestry: Slovak 1% Serbian 1% Romanian 1%
• Foreign-born: 19% · Canada, Vietnam
• Languages at home: 73% English-only · Spanish 19% French/Haitian/Cajun 2% Other Asian/Pacific 2%

Political lean MEDSL · Mecklenburg

• 2024 margin: Solid D (+32.9) · D 65.6% · R 32.7% · Other 1.6%
• 2008→2024 swing: +8.5pp toward D · 2008: 24.4pp · 2024: 32.9pp
• All cycles: 2024: D+32.9 2020: D+35.1 2016: D+29.9 2012: D+22.5 2008: D+24.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -201.15%
• Current HPI: 286.5413
• Rent YoY: ▲ 1.76%
• Metro: Charlotte-Concord-Gastonia, NC-SC
• State GDP YoY: ▲ 3.28%
• F500 in state: 26

Industry mix (Fortune 500 HQ in NC)

Industry	F500 HQs	Revenue
▸Financial Services	2	$213B
▸Retail	2	$95B
▸Industrial Conglomerate	1	$38B
▸Metals / Steel	1	$35B
▸Utilities	1	$30B
▸Industrial Machinery	1	$19B

Price history

-95.8% since first listed

4 events — show timeline

• 2026-05-12 Listed for Rent $1,350 CANOPYMLS
• 2026-04-16 Price Changed $165,000 CANOPYMLS as Distributed by MLS Grid
• 2026-03-03 Listed $175,900 CANOPYMLS as Distributed by MLS Grid
• 1984-03-01 Sold (Public Records) $32,000 Public Records

Property tax history

+4.4%/yr

Latest (2025): $934 · +3.4% YoY. Source: county tax records.