All Forum Posts by: Kathy Yao

Hi Kathy! This property’s location in South End is a major win—walkability to shops, restaurants, and the light rail makes it very desirable. For a long-term hold, I wouldn’t be too concerned about the hill or alley access. Those factors are more critical in a fix-and-flip scenario where you’re focused on resale to an end buyer. As a rental, tenants will likely prioritize the location over minor inconveniences.

Your strategy of betting on appreciation and eventually pulling equity makes a lot of sense in this market. South End’s growth should support that play. I’d just recommend reviewing the renovation requirements for the historic district since they can add time and cost, but the right team can help streamline the process.

Good luck with the deal—sounds like a solid opportunity!

Hi Kathy!

I'm familiar with the Charlotte market (that's my work playground!). Sounds like this is maybe in the Wilmore area if it's in a historic district near South End. I do like the Wilmore/Southend area. Parking will likely be your biggest hurdle. That said, there's quite a few homes in that area that have that challenge (no driveway/street parking). When you're looking at rental comps, I'd look for homes that also don't have a driveway to get an idea of how long it took to find a tenant and if you notice a big difference with the comps. 

In my experience, something like that might cause the home to sit on the rental market longer to find a tenant that is ok with overlooking that deficit. 

For the historic district, I would just make sure that you fully understand what requires approval and what that process looks like. Some districts are more strict than others. 

For the alley, I'm not sure I'm familiar with that set up, so I don't know that I can really comment on that. Did you mean the alley is 8 ft wide, not inches? 

I think if you're ok with the numbers, go for it. That area is appreciating and is a great spot for those that want the convenience of Southend and walkability. Good luck!