CLICK HERE FOR FULL PHOTO ALBUM
OVERVIEW
5511 The Plaza, Charlotte, NC 28215
Priced at $203/sq ft, this 1,092 sq ft Shannon Park ranch comes in well below what renovated comps are trading for in the immediate neighborhood — three updated homes on adjacent streets closed between $310k–$360k over the past nine months, averaging $340k. The Plaza corridor sits roughly six miles east of Uptown Charlotte and five miles south of UNC Charlotte, giving a rehabbed exit product broad tenant and buyer appeal. Shannon Park is an established mid-century neighborhood seeing consistent investment activity, with city water and sewer, a generous 0.26-acre lot, and R-4 zoning. At $222k, buyers are entering at a deep discount to the renovated market with strong room to value-add.
Comp Avg (Sold): ~$340k | For Sale Avg: ~$350k
Rent Avg: ~$1,800/mo | Gross Yield at Asking: ~9.7%
DETAILS
Type: Single Family
Bedrooms / Baths: 3 bed / 1.5 bath
Living Area: 1,092 sq ft
Year Built: 1960
Lot Size: 0.26 acres (11,326 sq ft)
Zoning: R-4
Utilities: City Water & City Sewer
Tax Value: $192,000
Parcel ID: 097-104-17
Flood Zone: Low Risk
Closing Attorney: Atlas Orange
COMPARABLE SALES
5415 Larchmont Ave, Charlotte, NC 28215 — 1,113 sq ft — $360,000 ($323/sq ft) — Sold Apr 2026
5400 Larchmont Ave, Charlotte, NC 28215 — 1,191 sq ft — $350,000 ($294/sq ft) — Sold Oct 2025
5440 Kildare Dr, Charlotte, NC 28215 — 1,161 sq ft — $310,000 ($267/sq ft) — Sold Sept 2025
As-Is Floor Reference: 5536 Larchmont Ave, Charlotte, NC 28215 — 1,240 sq ft — $182,000 ($147/sq ft) — Sold Jul 2025 (distressed/as-is sale — excluded from renovated average)
Comp Average (Renovated): ~$340,000 (~$294/sq ft)
As-Is Floor: ~$182,000 (~$147/sq ft)
Our Price: $222,000 ($203/sq ft)
Your Spread: ~$118,000
Three renovated comps on adjacent streets averaged $340k over the past nine months, with the strongest sale hitting $360k as recently as April 2026. Our price at $203/sq ft sits $91/sq ft below the renovated comp average — a substantial discount for buyers willing to do the work. The as-is floor at $147/sq ft confirms the distressed baseline, and at $222k this deal sits comfortably between that floor and the renovated ceiling, leaving $118k of spread for a flip exit. Hold buyers also benefit from a gross yield north of 9% at asking.
DISCLAIMER — Please Read Before Submitting an Offer
Assignment of Contract
This is an assignment of contract. A legally binding purchase agreement with a memorandum has been executed with the Seller, granting this company exclusive rights to purchase the property. We are not brokers or realtors and are not representing ourselves as such. We do not represent the owner.
Do not contact the Seller directly. Any attempt to contact the owner, interfere with, or circumvent our active contract will result in legal action. This property is not to be re-marketed under any circumstances without our explicit written consent and the execution of a joint venture agreement.
Due Diligence
Buyers are responsible for performing their own due diligence. We are not licensed agents. Please consult appropriate legal or professional counsel before submitting an offer.
Offer & Deposit Terms
A minimum $5,000 non-refundable deposit is required within 24 hours of signing to secure the deal
Closing will occur as quickly as possible, but no longer than 30 calendar days
Buyer pays all closing costs — closing costs are NOT included in the asking price
Taxes will be prorated and split between parties
$495 transaction fee payable to Bright Home Offer LLC
Closing will be conducted with our closing attorney
As-Is Terms
This property is offered as-is, where-is, with no warranties. By submitting an offer, you are accepting these terms.
- No repairs or improvements will be made prior to closing
- No clean-out or clean-up of any kind will be completed
- Property will not be broom clean at closing
Realtors & Wholesalers
If you are working with a client and wish to receive a commission or fee, please note that the wholesale price does not include your compensation. You may either:
Negotiate your commission/fee directly with your client, separate from the wholesale price, or adjust the wholesale price upward to include your fee.
If you’d like to be compensated by us at or outside of closing, please reach out or include those terms in your offer.