2921 Heathstead Pl · Charlotte, NC 28210

$190,000

2 bd · 1.5 ba · 1,137 sqft · Condo · 3 Days on market

Built 1980 Good condition

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Why this score? — see what drove the D 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 +12.2/30.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Schools +3.8/10.0
• Condition / age +3.8/5.0
• DSCR +3.6/10.0
• 1% rule +3.5/10.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Location, Lifestyle, and Low-Maintenance Living! Welcome to this charming 2-story condo nestled in one of Charlotte's most desirable areas, just minutes from SouthPark, Park Road Shopping Center, Uptown Charlotte, and countless dining, shopping, and entertainment destinations. Inside, you'll find a warm and inviting floor plan featuring a cozy wood-burning fireplace that creates the perfect focal point for relaxing evenings at home. The home offers comfortable living spaces with a dedicated dining area and a well-appointed kitchen featuring a convenient pass-through opening and breakfast bar, providing an open feel while maintaining a separate kitchen layout. Step outside to your own privat

Key facts

• Private fenced patio
• Breakfast bar
• Community pool

Tags

• WOOD BURNING FIREPLACE
• PRIVATE FENCED PATIO
• DEDICATED DINING AREA
• WELL APPOINTED KITCHEN
• BREAKFAST BAR

Property features AI

Finance

• HOA & community: Mandatory HOA (Meca Realty); Monthly association fee of $296; Community amenities include clubhouse, outdoor pool, and tennis courts; Pets allowed; Association subject to architectural review

Exterior

• Parking: 2 assigned open parking spaces
• Utilities: City water; Public sewer; Cable available; Electricity connected
• Home design: Residential garden-style condominium; Two levels
• Construction: Site-built construction; Partial brick and wood exterior; Composition roof; Slab foundation
• Exterior features: Rear porch; Paved road access; Publicly maintained road (dedicated to public use pending acceptance)

Interior

• Kitchen: Dishwasher; Disposal; Electric range; Microwave; Refrigerator; Plumbed for ice maker; Electric water heater
• Bedrooms: 2 bedrooms on the upper level
• Bathrooms: 1 full bath (upper level); 1 half bath (main level)
• Heating & cooling: Heat pump; Central air; Ceiling fans
• Interior features: 8 total rooms; Entry level: 1; Wood-burning fireplace in the great room
• Laundry & utility: Laundry located in hall; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $190k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-39 ($-473/yr) — negative.
• To cash-flow at today's rent, offer at most $184k (3.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $161k (15.1% below list).
• Recommended offer: $161k (15.1% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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: Beverly Woods Elementary (math 76% / reading 68%, grade A-, #73 of 1,410 statewide, top 6%, 611 students, 15% FRL); Carmel Middle (math 47% / reading 48%, grade C-, #140 of 475 statewide, top 30%, 1,076 students, 25% FRL); South Mecklenburg High School (math 71% / reading 66%, grade B, #134 of 535 statewide, top 25%, 3,344 students, 36% FRL) — zoned schools average 25% FRL vs 49% district-wide (24 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 63% at this address vs 44% district-wide (+19 pts) — the actual schools serving this property are materially stronger than the Charlotte-Mecklenburg Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents soft (-1.0%/yr); 242 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 $6k 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

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $161,224 (15.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.85% ✗
• Cap rate: 6.04%
• Cash-on-cash: -0.89%
• DSCR: 0.96
• GRM: 9.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -21.2%
• Equity multiple: 0.29×
• Total profit: $-37,997
• Equity at exit: $28,330

10-year hold

• IRR: -23.8%
• Equity multiple: -0.02×
• Total profit: $-54,477
• Equity at exit: $16,428

Cash invested: $53,200 (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 28210

• Rents YoY: -1.0%
• Active inventory: 242
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,612 high
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$238 /mo · $2,850/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$339
• Net cashflow: $-39

Break-even live

Break-even rent $1,662

Max offer price $184,302

Occupancy floor 97%

Sensitivity live

Price	-10% $92	-5% $26	+0% $-39	+5% $-105	+10% $-171
Rent	-10% $-167	-5% $-103	+0% $-39	+5% $24	+10% $88
Rate	-1.0pp $56	-0.5pp $9	base $-39	+0.5pp $-89	+1.0pp $-139

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2900 Heathstead Pl Unit I Charlotte, NC	2.0	2.0	955	$1,595	$1.67	0d	1	0.06mi
2900 Heathstead Pl Charlotte, NC	2.0	2.0	1012	$1,660	$1.64	16d	2	0.06mi
2901 Heathstead Pl Unit G Charlotte, NC	2.0	2.0	960	$1,695	$1.77	6d	1	0.06mi
2800 Heathstead Pl Unit K Charlotte, NC	2.0	2.0	960	$1,350	$1.41	25d	1	0.13mi
2800 Heathstead Pl Unit K Charlotte, NC	2.0	2.0	960	$1,350	$1.41	9d	1	0.13mi
6034 Heath Valley Rd Charlotte, NC	2.0	1.5	1068	$1,795	$1.68	23d	1	0.16mi
4401 Hamptonridge Dr Charlotte, NC	1.0–2.0	1.0–2.0	987	$1,632	$1.65	0d	19	0.22mi
6108 Heath Ridge Ct Charlotte, NC	2.0	1.5	1105	$1,675	$1.52	25d	1	0.23mi
3276 Heathstead Pl Charlotte, NC	3.0	2.5	1305	$1,695	$1.30	25d	1	0.29mi
3280 Heathstead Pl Charlotte, NC	3.0	2.5	1282	$1,950	$1.52	25d	1	0.29mi
6316 Cameron Forest Ln Charlotte, NC	1.0–2.0	1.0–2.0	896	$1,534	$1.71	4d	12	0.29mi
3284 Heathstead Pl Unit G Charlotte, NC	2.0	2.0	979	$1,495	$1.53	25d	1	0.29mi
3284 Heathstead Pl Charlotte, NC	2.0	2.0	979	$1,295	$1.32	9d	1	0.30mi
5945 Quail Hollow Rd Charlotte, NC	2.0	2.5	1294	$1,700	$1.31	25d	1	0.44mi
4012 Quail Forest Dr Charlotte, NC	2.0	2.0	1091	$1,738	$1.59	14d	1	0.77mi
4012 Quail Forest Dr Charlotte, NC	2.0	2.0	1091	$1,627	$1.49	5d	1	0.77mi
5001 Sharon Rd Unit K Charlotte, NC	2.0	2.0	1150	$1,649	$1.43	0d	1	1.03mi
4835 Cameron Valley Pkwy Charlotte, NC	3.0	1.0–2.0	1337	$2,602	$1.95	0d	46	1.21mi
4905 Ashley Park Ln Charlotte, NC	2.0	1.0–2.0	895	$2,396	$2.68	0d	19	1.22mi
12509 Crown Park Ct Charlotte, NC	1.0–3.0	1.0–2.0	1050	$1,658	$1.58	0d	26	1.35mi
4706 Walden Ct Charlotte, NC	3.0	2.0	1300	$2,950	$2.27	9d	1	1.37mi
4706 Walden Ct Charlotte, NC	3.0	2.0	1300	$2,950	$2.27	25d	1	1.37mi
4700 Walden Ct Charlotte, NC	3.0	2.0	1300	$2,950	$2.27	25d	1	1.37mi
4700 Walden Ct Charlotte, NC	3.0	2.0	1300	$2,950	$2.27	0d	1	1.37mi
4700 Walden Ct Charlotte, NC	3.0	2.0	1300	$2,875	$2.21	15d	1	1.37mi
7202 Meeting St Charlotte, NC	2.0	2.5	1146	$1,950	$1.70	25d	1	1.43mi
4605 Colony Rd Charlotte, NC	1.0–3.0	1.0–2.0	1130	$1,445	$1.28	0d	18	1.47mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-06-21
   days on market $190,000 Active 3 DOM
2. 2026-06-19
   pricedays on marketlisting id $190,000 Active 1 DOM
3. 2026-06-15
   days on market $200,000 Active 23 DOM
4. 2026-06-09
   days on market $200,000 Active 21 DOM
5. 2026-06-08
   days on market $200,000 Active 20 DOM
6. 2026-06-07
   days on market $200,000 Active 19 DOM
7. 2026-06-04
   days on market $200,000 Active 16 DOM
8. 2026-06-03
   days on market $200,000 Active 15 DOM
9. 2026-06-02
   days on market $200,000 Active 14 DOM
10. 2026-06-02
    days on market $200,000 Active 13 DOM
11. 2026-06-01
    price $200,000 Active 12 DOM
12. 2026-05-31
    days on market $214,000 Active 12 DOM
13. 2026-05-19
    listed $214,000 Active

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

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 ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,347
• − Mortgage interest: −$10,643
• − Property taxes: −$2,850
• − Insurance: −$950
• − Repairs & maintenance: −$1,548
• − Management: −$1,548
• − Depreciation: −$5,527
• Taxable loss: −$3,719
• Est. tax savings @ 24.0%: +$893
• After-tax cash flow: $420/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This well-maintained, move-in-ready condo in the Heathstead community offers a cozy living space with hardwood floors, a wood-burning fireplace, and a private fenced patio. It's in good condition with minor cosmetic updates needed for optimal resale and rental value.

Value-add opportunities

• Resale Paint exterior trim — Enhances curb appeal
• Rental Clean gutters — Keeps property in good condition

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior trim — Enhances curb appeal ↑
• Rental Clean gutters — Keeps property in good condition ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 47,359
• Household income: $100,824
• Rent vs Own: 44.2% rent · 55.8% own
• Severe rent burden: 2363.0

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 0.58)
• Race & ethnicity: White 60% Hispanic / Latino 20% Two or more races 13% Black 12% Asian 3%
• Hispanic origin (detail): Mexican 5% Dominican 1%
• Common ancestry: Serbian 4% Slovak 3% Romanian 2%
• Foreign-born: 19% · Canada, Jamaica, Guatemala
• Languages at home: 77% English-only · Spanish 17% Other Indo-European 2% Russian/Polish/Slavic 1%

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: ▼ -521.35%
• Current HPI: 316.6779
• Rent YoY: ▼ -1.00%
• 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

1 event — show timeline

• 2026-05-19 Listed $214,000 CANOPYMLS as Distributed by MLS Grid