Zillow lies. Neighbors don’t

👋🏾 Hello neighbors,

Sometimes, it’s all about knowing what to look for and who to listen to when buying an investment property. Like the investor who relied only on flashy listings and missed the quiet red flags neighbors were sharing. Or the buyer who thought numbers on paper told the whole story, until the market reminded them otherwise.

This week, we focus on cutting through the noise: how to analyze deals with just Zillow and Google Maps, a real story about buying at the market peak and what followed, and why neighbors often hold the key to what you’re really buying into.

Let’s jump right in.

THE PLAYBOOK

How to Analyze a Real Estate Deal Using Only Zillow & Google Maps

Zillow — Your Deal Sneak Peek

• Price History: Has the seller dropped the price? Sitting for months = possible motivated seller.

• Comparable Sales ("Comps"): Look at similar homes sold nearby (same beds, baths, sqft).

• Rental Estimate: Some listings show potential rent, helpful for rough estimate cash flow.

• Zestimate: Don’t bet the farm on it, but it gives you a ballpark value.

• Photos: Condition clues — updated kitchens? Old roof? Red flags?

Google Maps Drill Down

• Use Street View — check the curb appeal, nearby eyesores, or sketchy spots.

• Zoom out — what’s next door? Vacant lots? Commercial buildings?

• Look for proximity to highways, railroads, or busy intersections = possible noise complaints.

• Spot neighborhood trends — new builds, renovations, or rundown properties nearby.

If Zillow & Google Maps already show major issues — ugly street, bad comps, weird location — don’t waste time. Keep it moving.

DEAL RADAR

Why It’s a Great Deal

• No HOA fees — saves on monthly expenses and maximizes cash flow.

• $10,000 buyer credit with preferred lender — reduces upfront closing costs.

• New construction means minimal maintenance for years to come.

• 4 bedrooms per unit — larger layouts typically command premium rents.

• Private yards and 16-foot privacy fence enhance tenant appeal for families or roommates.

• Located in Hardwood Lane, a desirable and appreciating Charlotte neighborhood with limited new duplex inventory.

The Breakdown

• Estimated Rent Per Unit: $2,800 - $3,200/month

• Rehab: No major rehab needed — this is new construction.

• After Repair Value (ARV): $760,000 - $780,000 (comparable properties)

• Estimated Cap Rate: ~6.8%

• Investor Outlook: Ideal for cash-flow investors or house-hackers seeking new construction in a desirable Charlotte pocket.

Why It’s a Great Deal

• No HOA fees — maximizes cash flow and eliminates restrictions.

• $10,000 buyer credit available with preferred lender.

• Sardis Forest is a sought-after South Charlotte neighborhood with strong demand from families and professionals.

• Oversized 1/3-acre lot with privacy, providing rare outdoor space in the area.

• Luxury finishes and sunroom command premium rents and attract quality tenants.

• New construction = minimal maintenance and strong appreciation potential.

The Breakdown

• Estimated Rent Per Unit: $3,600 - $4,200/month

• Rehab: No rehab required — brand new construction.

• ARV: ARV: $1.4M - $1.45M (comparable properties)

• Estimated Cap Rate: ~4.7%

• Investor Outlook: Ideal for investors prioritizing asset quality and tenant profile over raw cap rate.

ROOKIE MISTAKE

I Bought at the Peak of 2022… and Now I’m Stuck

A local investor shares their biggest investment mistake.

The Deal

• Location: Steele Creek area, Charlotte.

• Purchase Price: $410,000.

• Type: New construction townhome.

• Goal: Buy, hold, refinance later, ride the appreciation wave.

What Went Wrong

• Bought at the height of 2022 when rates were still low, but climbing.

• Locked in a 5.5% rate, thinking refi later, rates shot up instead.

• After closing, similar homes in the area dropped to $370K.

• Now I’m stuck — can’t refinance, can’t sell without a loss, cash flow is tight.

Lesson Learned

• Don’t bank on refinancing, future rates aren’t guaranteed.

• New construction can lose value fast if the builder floods the market.

• Buy based on today’s numbers, not tomorrow’s hope.

• Forever home thinking? Cool. Investment property? Stay strict with the math.

MARKET WHISPERER

Don’t Ask the Seller… Ask the Neighbors.

🗣️ Local Agent Insight

Charlotte’s market moves fast, but deals can look better on paper than in reality. Before you get starry-eyed over a deal, knock on a few doors and talk to the neighbors. They’ll spill everything the listing won’t.

Why It Works

• Vacancy Clues: Seller says “job relocation,” neighbor says the house sat empty for 8 months.

• Crime Check: MLS won’t mention break-ins or late-night drama, neighbors will.

• Hidden History: You’ll find out if it’s been flipped three times, or if previous buyers bailed.

• Construction Warnings: They’ll mention busted pipes, constant repairs, or unfinished projects.

• Community Vibe: Want long-term renters? Better know if the block throws parties 'til 3 AM.

The seller wants to move the deal. The neighbor has no reason to sugarcoat the truth. The truth is, Zillow shows comps. Neighbors show what you’re really buying into.

Until next week,

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