Charlotte investors - Stonehaven ?

[Paul C.]

Are there any Charlotte investors familiar with Stonehaven? I'm under contract to buy a package of properties consisting of 3/2s. From a cash flow perspective, these properties will not do as well as my other Charlotte properties. My average cost will be around 115k to 120k (after renovations) and average rent will be 1,050. I believe comps do support these prices. I've typically been able to get that sort of rent for 90k to 100k. The reason I'm looking in Stonehaven is my agent thinks it has more potential from an appreciation perspective. I think that's probably true as the community consists of older established neighborhoods with a more upscale feel versus some of the cookie cutter new construction in newer subdivisions that cash flow well. If you're familiar with the area, I'd love to hear your take. I suppose this is somewhat related to the cash flow vs appreciations debates that often take place, but more specific to Charlotte. Thanks