Cox Ave., in under 3 months, has been transformed. A low-income apartment building has been vacated, and at least 6 new homes have been built, or are in process. The average price of these new homes is $400k.

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Cox Ave., in under 3 months, has been transformed. A low-income apartment building has been vacated, and at least 6 new homes have been built, or are in process. The average price of these new homes is $400k.

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Price history for house: 5/17 sold for $175k; 6/16 sold for $89k; 1/07 sold for $70k; 3/05 sold for $22k. Foreclosure 1/05 $31k. Source: Zillow
August, 2017: Katonah Ave. rehab underway
In late July, 2017, this has become almost a weekly occurrence.

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Cox Ave. apartments cleared out, as six new houses go in.
As of June 2017, average apartment rent within the city of of Charlotte, NC is $1363, this is nearly double the average cost of renting in Seversville at $704.Â
Let’s assume you've been paying $704 monthly and now you want to buy a home. With excellent credit and a good job you might qualify for a $110-120k mortgage. But where would you find a home for that price, in this neighborhood, now?
Home ownership rates in Seversville hover at 36%.
Source:Â https://mcmap.org/qol/?m=m29&n=382