Nov 22, 2020 - Real Estate

See inside: Plaza Midwood cottage with built-in Airbnb flies off the market in 24 hours

1714:1712 Thomas Ave front

1714:1712 Thomas Ave front

Rebekah Sosa at Allen Tate Mooresville/Lake Norman has the listing. Photos by/courtesy of Matthew Benham.

Within a single day, the Plaza Midwood home received an offer and is currently pending sale. The real estate agent is still accepting backup offers.

The exact address is 1714/1712 Thomas Ave. At 2,370 square feet total, one half of the duplex has 2 beds and 1 bath, the other has a loft-style 1 bed and 2 baths.

Features: Charming streetscape, fire pit area, two fenced-in yards, a hot tub, recently renovated, modern black and white interior design, upgraded kitchens.

Income potential: On average, the current owners rent the house for around $130 a night through Airbnb. If you rent it for 10 nights a month, you’d get $1,300. If it’s booked every night, thats $3,900 a month. If you had a steady stream of guests, it could certainly help subsidize or, in the best case, cover your monthly mortgage.

The current owners lease half to a longer term tenant for $1,850, which of course is a more reliable source of income.

1714:1712 Thomas Ave fire pit
1714:1712 Thomas Ave living room 2
This part of the duplex has 2 beds, 1 bath, and the coziest living room with a fireplace.
1714:1712 Thomas Ave ktichen 1
1714:1712 Thomas Ave bedroom
1714:1712 Thomas Ave bath
1714:1712 Thomas Ave living room
The second half of the duplex has a more open layout with a loft-style bedroom and flex space upstairs.
1714:1712 Thomas Ave flow
1714:1712 thomas ave loft
1714:1712 Thomas Ave hot tub

Zoom out: Charlotte’s market is hot. In October, houses flew off the market within 25 days, on average. That’s the quickest in recorded history and 15 days quicker than last year, according to Canopy MLS records. Houses in Charlotte are also expensive; the average list price is up 10.5 percent compared to this time last year. Offsetting that cost with a short-term rental option and historically low mortgage rates could help make this $670K property more affordable.

Here’s a look around.

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