1063 Triece Ln · Charlotte, NC 28215

$185,900

2 bd · 1.0 ba · 929 sqft · Condo public records · 38 Days on market

Built 2001 $150/mo HOA · 9% of rent

---

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 +13.2/30.0
• ARV discount +7.5/15.0
• DSCR +4.0/10.0
• 1% rule +3.9/10.0
• 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 MLS

This is a beautiful 2 bedroom, 1 bath condo in the Citiside Condo community. It has all-new luxury vinyl tiles, new carpet, a freshly painted interior, and new fixtures. An open floor plan with lots of windows that bring on natural light. This unit is convenient to NODA, Uptown Charlotte, Plaza Midwood, and light rail. Washer and Dryer Hookups. Per HOA, the community has also reached the rental cap but please check with HOA Management to confirm. The community features a pond, outdoor pool, and sidewalks. Hurry, this won't last on the market!

Key facts

• Outdoor pool
• Private balcony
• Scenic ponds

Tags

• PRIVATE BALCONY
• OUTDOOR POOL
• ATTACHED STORAGE
• SCENIC PONDS
• SIDEWALKS

Property features AI

Finance

• Other: Roads are asphalt/paved and publicly maintained; Land not included
• HOA & community: Mandatory HOA with monthly fee of $150; Association managed by Red Rick HOA Management; Community amenities include clubhouse, outdoor pool, pond, sidewalks, and street lights

Exterior

• Parking: Parking spaces available
• Utilities: City water; Public sewer
• Home design: Residential condominium; Site-built construction; One-level (single story); Entry level: 2; Zoning: MX2
• Construction: Vinyl exterior; Slab foundation
• Exterior features: Balcony; Exterior storage

Interior

• Kitchen: Dishwasher; Electric range/oven; Microwave; Exhaust fan; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Central heating; Heat pump; Central air; Ceiling fan(s) for cooling
• Interior features: Ceiling fans in multiple rooms; Sliding doors; Walk-in closet(s); 7 total rooms
• Laundry & utility: Washer/Dryer included; Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $186k.

Deal economics

• At list price, monthly cash flow is $-4 ($-46/yr) — negative.
• To cash-flow at today's rent, offer at most $185k (0.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $165k (11.3% below list).
• Recommended offer: $165k (11.3% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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); 568 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $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

• It's been on market 38 days — a 3% lower offer ($180k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% 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 $164,904 (11.3% 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. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
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: 0.89% ✗
• Cap rate: 6.27%
• Cash-on-cash: -0.09%
• DSCR: 1.00
• GRM: 9.4

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: -17.9%
• Equity multiple: 0.38×
• Total profit: $-32,364
• Equity at exit: $27,718

10-year hold

• IRR: -12.6%
• Equity multiple: 0.30×
• Total profit: $-36,477
• Equity at exit: $16,073

Cash invested: $52,052 (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: 568
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,649 high
• Mortgage (P&I): −$975
• Tax from tax record: −$104 /mo · $1,251/yr
• Insurance: −$77
• HOA: −$150
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $-4

Break-even live

Break-even rent $1,654

Max offer price $185,218

Occupancy floor 95%

Sensitivity live

Price	-10% $101	-5% $49	+0% $-4	+5% $-56	+10% $-109
Rent	-10% $-134	-5% $-69	+0% $-4	+5% $61	+10% $126
Rate	-1.0pp $90	-0.5pp $43	base $-4	+0.5pp $-52	+1.0pp $-101

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: $46,475
• Closing costs: $5,577
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
731 Harwyn Dr Charlotte, NC	3.0	1.0	1066	$1,575	$1.48	26d	1	0.13mi
4413 Eaves Ln Charlotte, NC	2.0	2.5	1084	$1,650	$1.52	18d	1	0.14mi
1913 Finchley Dr Charlotte, NC	3.0	1.0	958	$1,545	$1.61	1d	1	0.18mi
638 Vanderbrook Rd Charlotte, NC	3.0	1.0	1092	$1,775	$1.63	18d	1	0.28mi
5005 Community Cir Charlotte, NC	1.0–3.0	1.0–2.0	915	$1,552	$1.70	1d	34	0.31mi
5005 Community Cir Charlotte, NC	1.0–3.0	1.0–2.0	915	$1,602	$1.75	26d	18	0.31mi
5101 Glenview Ct Charlotte, NC	3.0	1.0	880	$1,500	$1.70	1d	1	0.39mi
1131 Glenfiddich Dr Charlotte, NC	1.0	1.0	650	$1,095	$1.68	10d	1	0.44mi
4928 Malibu Dr Charlotte, NC	2.0	1.0	975	$1,475	$1.51	22d	1	0.48mi
1930 Terrybrook Ln #1 Charlotte, NC	3.0	1.0	825	$1,495	$1.81	26d	1	0.60mi
5001 Lakecrest Dr Charlotte, NC	2.0	1.0	1000	$1,600	$1.60	18d	1	0.64mi
5003 Lakecrest Dr Charlotte, NC	2.0	1.0	1000	$1,600	$1.60	18d	1	0.64mi
4239 Dinglewood Ave Charlotte, NC	3.0	1.0	900	$1,850	$2.06	26d	1	0.65mi
2627 Dora Dr Charlotte, NC	3.0	1.5	1060	$1,950	$1.84	1d	1	0.66mi
4207 Dinglewood Ave Charlotte, NC	3.0	1.0	950	$1,349	$1.42	18d	1	0.70mi
3217 Shamrock Dr Charlotte, NC	2.0	2.0	1024	$1,390	$1.36	24d	1	0.72mi
3217 Shamrock Dr Charlotte, NC	1.0	1.0	668	$1,059	$1.59	26d	1	0.72mi
1827 Academy St Charlotte, NC	2.0	1.0	700	$1,395	$1.99	26d	1	0.76mi
1825 Academy St Charlotte, NC	2.0	1.0	700	$1,350	$1.93	26d	1	0.76mi
1735 Academy St Charlotte, NC	2.0	1.0	747	$1,249	$1.67	1d	1	0.80mi
3520 Byrnes St Charlotte, NC	3.0	2.5	1056	$1,649	$1.56	10d	1	0.97mi
1905 Eastway Dr Charlotte, NC	1.0–3.0	1.5	1113	$1,490	$1.34	26d	1	0.99mi
4325 Raleigh St Charlotte, NC	1.0–2.0	1.0–2.0	1005	$1,920	$1.91	6d	25	0.99mi
3315 Erskine Dr Charlotte, NC	2.0	1.0	775	$1,700	$2.19	22d	1	1.04mi
3829 Stonehaven Dr Charlotte, NC	3.0	1.5	1081	$1,850	$1.71	18d	1	1.08mi
1320 Anderson St Charlotte, NC	2.0	1.0	756	$1,895	$2.51	26d	1	1.10mi
2019 Aberdale Farm Ln Charlotte, NC	2.0–4.0	2.0	1119	$1,250	$1.12	7d	1	1.12mi
2900 Edsel Pl Charlotte, NC	3.0	1.0	1056	$1,700	$1.61	18d	1	1.15mi
2900 Edsel Pl Charlotte, NC	3.0	1.0	1000	$1,700	$1.70	7d	1	1.15mi
3108 Erskine Dr Charlotte, NC	2.0	1.0	852	$1,425	$1.67	20d	1	1.17mi
3317 Magnolia Hill Dr Charlotte, NC	1.0–2.0	1.0–2.0	872	$1,355	$1.55	26d	1	1.17mi
3932 Slagle Dr Charlotte, NC	3.0	2.0	1015	$1,800	$1.77	26d	1	1.18mi
4101 Raleigh St Charlotte, NC	2.0	1.0–2.0	910	$2,356	$2.59	1d	160	1.18mi
411 Lambeth Dr Charlotte, NC	1.0–3.0	1.0–1.5	826	$1,350	$1.63	16d	1	1.24mi
2205 Kilborne Dr Charlotte, NC	1.0	1.0	634	$1,050	$1.66	26d	1	1.25mi
2219 Kilborne Dr Unit D Charlotte, NC	1.0	1.0	634	$1,050	$1.66	7d	1	1.26mi
1240 Merrick St Charlotte, NC	2.0–4.0	2.0	1204	$1,250	$1.04	26d	1	1.26mi
1401 Downs Ave Unit C Charlotte, NC	1.0	1.0	540	$1,075	$1.99	17d	1	1.31mi
3630 N Davidson St #3313 Charlotte, NC	1.0	1.0	967	$2,150	$2.22	14d	1	1.33mi
3630 N Davidson St Charlotte, NC	1.0	1.0	967	$1,900	$1.96	1d	2	1.33mi

HOA detail condo

• Monthly dues: $150 · $1,800/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-22
   days on market $185,900 Active 38 DOM
2. 2026-06-21
   days on market $185,900 Active 37 DOM
3. 2026-06-18
   days on market $185,900 Active 34 DOM
4. 2026-06-17
   days on market $185,900 Active 33 DOM
5. 2026-06-16
   days on market $185,900 Active 32 DOM
6. 2026-06-15
   days on market $185,900 Active 31 DOM
7. 2026-06-13
   days on market $185,900 Active 29 DOM
8. 2026-06-10
   price $185,900 Active 25 DOM
9. 2026-06-09
   days on market $187,900 Active 25 DOM
10. 2026-06-08
    days on market $187,900 Active 24 DOM
11. 2026-06-07
    days on market $187,900 Active 23 DOM
12. 2026-06-04
    days on market $187,900 Active 20 DOM
13. 2026-06-03
    days on market $187,900 Active 19 DOM
14. 2026-06-02
    days on market $187,900 Active 18 DOM
15. 2026-06-02
    days on market $187,900 Active 17 DOM
16. 2026-05-31
    days on market $187,900 Active 16 DOM
17. 2026-05-15
    listed $187,900 Active
18. 2023-02-24
    soldstatus $165,000 Closed 548-char remark

    Show marketing remark (548 chars)

    This is a beautiful 2 bedroom, 1 bath condo in the Citiside Condo community. It has all-new luxury vinyl tiles, new carpet, a freshly painted interior, and new fixtures. An open floor plan with lots of windows that bring on natural light. This unit is convenient to NODA, Uptown Charlotte, Plaza Midwood, and light rail. Washer and Dryer Hookups. Per HOA, the community has also reached the rental cap but please check with HOA Management to confirm. The community features a pond, outdoor pool, and sidewalks. Hurry, this won't last on the market!

19. 2023-02-24
    soldstatus $165,000

    Show marketing remark (548 chars)

    This is a beautiful 2 bedroom, 1 bath condo in the Citiside Condo community. It has all-new luxury vinyl tiles, new carpet, a freshly painted interior, and new fixtures. An open floor plan with lots of windows that bring on natural light. This unit is convenient to NODA, Uptown Charlotte, Plaza Midwood, and light rail. Washer and Dryer Hookups. Per HOA, the community has also reached the rental cap but please check with HOA Management to confirm. The community features a pond, outdoor pool, and sidewalks. Hurry, this won't last on the market!

20. 2023-01-24
    historical Active Under Contract 548-char remark

    Show marketing remark (548 chars)

    This is a beautiful 2 bedroom, 1 bath condo in the Citiside Condo community. It has all-new luxury vinyl tiles, new carpet, a freshly painted interior, and new fixtures. An open floor plan with lots of windows that bring on natural light. This unit is convenient to NODA, Uptown Charlotte, Plaza Midwood, and light rail. Washer and Dryer Hookups. Per HOA, the community has also reached the rental cap but please check with HOA Management to confirm. The community features a pond, outdoor pool, and sidewalks. Hurry, this won't last on the market!

21. 2023-01-18
    listed $169,900 Active 548-char remark

    Show marketing remark (548 chars)

    This is a beautiful 2 bedroom, 1 bath condo in the Citiside Condo community. It has all-new luxury vinyl tiles, new carpet, a freshly painted interior, and new fixtures. An open floor plan with lots of windows that bring on natural light. This unit is convenient to NODA, Uptown Charlotte, Plaza Midwood, and light rail. Washer and Dryer Hookups. Per HOA, the community has also reached the rental cap but please check with HOA Management to confirm. The community features a pond, outdoor pool, and sidewalks. Hurry, this won't last on the market!

22. 2022-11-25
    listed $174,900 Active
23. 2022-11-23
    historical
24. 2022-10-21
    soldstatus $120,000
25. 2022-09-28
    soldstatus $30,000

ⓘ 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: $1,251 · $104/mo
• Projected year-2 tax: $1,524 · $127/mo
• Expected delta: +$273/yr (+$23/mo · 21.8%)

ⓘ 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 6/10 Major 27% 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: $19,788
• − Mortgage interest: −$10,413
• − Property taxes: −$1,251
• − Insurance: −$930
• − Repairs & maintenance: −$1,583
• − Management: −$1,583
• − HOA: −$1,800
• − Depreciation: −$5,408
• Taxable loss: −$3,180
• Est. tax savings @ 24.0%: +$763
• After-tax cash flow: $717/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

+526.3% since first listed

9 events — show timeline

• 2026-05-15 Listed $187,900 CANOPYMLS as Distributed by MLS Grid
• 2023-02-24 Sold (Public Records) $165,000 Public Records
• 2023-02-24 Sold (MLS) $165,000 CANOPYMLS as Distributed by MLS Grid
• 2023-01-24 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2023-01-18 Listed $169,900 CANOPYMLS as Distributed by MLS Grid
• 2022-11-25 Listed $174,900 CANOPYMLS as Distributed by MLS Grid
• 2022-11-23 Coming Soon — CANOPYMLS as Distributed by MLS Grid
• 2022-10-21 Sold (Public Records) $120,000 Public Records
• 2022-09-28 Sold (Public Records) $30,000 Public Records

Property tax history

+3.7%/yr

Latest (2025): $1,251 · +2.0% YoY. Source: county tax records.