1160 SE Crestmont Dr · Concord, NC 28025

$217,500

2 bd · 2.0 ba · 1,404 sqft · Condo public records · 74 Days on market

Built 1983 $150/mo HOA · 7% of rent

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +19.7/30.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• 1% rule +5.4/10.0
• Schools +4.7/10.0
• Livability +4.0/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Seller is offering a $2500 credit with an acceptable offer. .. Imagine coming home after a long day to a space that feels comfortable, convenient, and easy to enjoy. This 2-bedroom, 2.5-bath condo in Concord offers a practical layout with both spacious bedrooms upstairs, each with access to its own full bath, plus the added convenience of an upstairs laundry area. The main level is designed for everyday living, with comfortable spaces for relaxing or entertaining and a half bath for guests. One of the standout features is the nice view of the pond, creating a peaceful backdrop to enjoy your morning coffee or unwind at the end of the day. Important updates bring added value and peace of mind

Key facts

• $150 HOA
• Built 1983
• Listed 73 days

Property features AI

Finance

• HOA & community: HOA: Alluvia; Mandatory HOA dues; Quarterly association fee of $450 (annual $1,800)

Exterior

• Parking: Assigned parking
• Utilities: City water; Public sewer
• Home design: Residential condominium; Two levels; Site-built construction; Brick exterior; Crawl space foundation; RM-1 zoning
• Construction: Built on site; Brick full exterior
• Exterior features: Asphalt-paved, publicly maintained road

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: Two bedrooms on the upper level
• Bathrooms: Two full bathrooms; One half bathroom on the main level
• Heating & cooling: Electric heating; Heat pump; Central air conditioning
• Interior features: Open living room with fireplace; Entry on level 3
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $218k.

Deal economics

• At list price, monthly cash flow is $253 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $218k).
• Recommended offer: $204k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 3.3% in Concord — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 81/100 on livability (#18 in NC, #1,595 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, commute F.
• Cabarrus County Schools (rural): math 54% / reading 55% proficiency, ranked #44 of 178 in NC (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+3.2%/yr); 303 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 2,485 units permitted in Cabarrus County in 2024 (677 in 5+ unit buildings).
• This rent runs 34% of the median local income ($80k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Cabarrus County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($204k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $128k; list at $218k implies a 70% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 22% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $204,450 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.04% ✓
• Cap rate: 7.69%
• Cash-on-cash: 4.98%
• DSCR: 1.22
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.23% rent growth · sell at horizon

5-year hold

• IRR: -8.3%
• Equity multiple: 0.70×
• Total profit: $-18,557
• Equity at exit: $32,430

10-year hold

• IRR: 1.6%
• Equity multiple: 1.11×
• Total profit: $6,978
• Equity at exit: $18,805

Cash invested: $60,900 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 85 Strongly Landlord-Friendly
• State North Carolina: 85 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

10-day notice; preempted; landlord-favorable but court speed varies.

Methodology + full state rankings →

ZIP-level market 28025

• Rents YoY: 3.2%
• Active inventory: 303
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,269 medium
• Mortgage (P&I): −$1,141
• Tax from tax record: −$158 /mo · $1,899/yr
• Insurance: −$91
• HOA: −$150
• Vacancy / Maint / Mgmt: −$476
• Net cashflow: $253

Break-even live

Break-even rent $1,949

Max offer price $217,500

Occupancy floor 84%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $54,375
• Closing costs: $6,525
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
29 Plott Dr SW Concord, NC	3.0	2.0	1364	$2,950	$2.16	23d	1	1.04mi
782 Union St S Concord, NC	3.0	2.0	1505	$2,300	$1.53	14d	1	1.32mi

HOA detail condo

• Monthly dues: $150 · $1,800/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-18
   days on market $217,500 Active 74 DOM
2. 2026-06-17
   days on market $217,500 Active 73 DOM
3. 2026-06-16
   days on market $217,500 Active 72 DOM
4. 2026-06-15
   days on market $217,500 Active 71 DOM
5. 2026-06-13
   days on market $217,500 Active 69 DOM
6. 2026-06-09
   days on market $217,500 Active 65 DOM
7. 2026-06-08
   days on market $217,500 Active 64 DOM
8. 2026-06-07
   days on market $217,500 Active 63 DOM
9. 2026-06-04
   days on market $217,500 Active 60 DOM
10. 2026-06-03
    days on market $217,500 Active 59 DOM
11. 2026-06-02
    days on market $217,500 Active 58 DOM
12. 2026-06-01
    days on market $217,500 Active 57 DOM
13. 2026-05-31
    days on market $217,500 Active 56 DOM
14. 2026-05-14
    price $217,500
15. 2026-04-06
    listed $220,000 Active
16. 2026-03-16
    historical $220,000
17. 2021-05-05
    soldstatus $128,000
18. 2012-07-12
    soldstatus $60,000
19. 1993-02-01
    soldstatus $61,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NC · Resets to sale price

• Current annual tax: $1,899 · $158/mo
• Projected year-2 tax: $1,899 · $158/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 22% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,226
• − Mortgage interest: −$12,183
• − Property taxes: −$1,899
• − Insurance: −$1,088
• − Repairs & maintenance: −$2,178
• − Management: −$2,178
• − HOA: −$1,800
• − Depreciation: −$6,327
• Taxable loss: −$428
• Est. tax savings @ 24.0%: +$103
• After-tax cash flow: $3,137/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Cabarrus County Schools
• NCES district ID: 3700530
• Math proficiency: 54% ▲ 4.00%
• Reading proficiency: 55% ▲ 3.00%
• Median HH income: $59,442
• Composite: 47.42/100
• National rank: #2282
• State rank: #44 of 178 in NC

Livability — Concord

• Score: 81/100
• State rank: #18
• US rank: #1595

Category grades

Amenities A- Commute F Cost of living A+ Crime A- Employment B+ Housing A+ Health & safety A+ User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Concord, NC
• County: Cabarrus County · 218,793 people
• City population: 140,106
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 58,334
• Household income: $79,545
• Rent vs Own: 30.9% rent · 69.1% own
• Severe rent burden: 1852.0

Population outlook (Cabarrus County) Hauer SSP2

• Today (2025): 239,273 people
• By 2030: 260,754 · +9.0%
• By 2040: 303,953 · +27.0%
• By 2050: 344,827 · +44.1%
• By 2075: 435,623 · +82.1%
• By 2100: 490,119 · +104.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 61% Black 21% Hispanic / Latino 13% Two or more races 8% Asian 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Serbian 2% Italian 2% Slovak 1%
• Foreign-born: 7% · Canada
• Languages at home: 89% English-only · Spanish 9%

Political lean MEDSL · Cabarrus

• 2024 margin: Lean R (+7.7) · D 45.5% · R 53.2% · Other 1.3%
• 2008→2024 swing: +10.7pp toward D · 2008: -18.4pp · 2024: -7.7pp
• All cycles: 2024: R+7.7 2020: R+9.4 2016: R+20.0 2012: R+20.2 2008: R+18.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -282.07%
• Current HPI: 258.1615
• Rent YoY: ▲ 3.23%
• Metro: Charlotte-Concord-Gastonia, NC-SC
• State GDP YoY: ▲ 3.28%
• F500 in state: 26

Industry mix (Fortune 500 HQ in NC)

Industry	F500 HQs	Revenue
▸Financial Services	2	$213B
▸Retail	2	$95B
▸Industrial Conglomerate	1	$38B
▸Metals / Steel	1	$35B
▸Utilities	1	$30B
▸Industrial Machinery	1	$19B

Price history

+253.7% since first listed

6 events — show timeline

• 2026-05-14 Price Changed $217,500 CANOPYMLS as Distributed by MLS Grid
• 2026-04-06 Listed $220,000 CANOPYMLS as Distributed by MLS Grid
• 2026-03-16 Coming Soon $220,000 CANOPYMLS as Distributed by MLS Grid
• 2021-05-05 Sold (Public Records) $128,000 Public Records
• 2012-07-12 Sold (Public Records) $60,000 Public Records
• 1993-02-01 Sold (Public Records) $61,500 Public Records

Property tax history

+4.3%/yr

Latest (2025): $1,899 · +0.0% YoY. Source: county tax records.