7356 Childress Dr SW · Concord, NC 28025

$299,990

3 bd · 2.5 ba · 1,584 sqft · SingleFamily · 32 Days on market

Built 2026 Good condition 1,742 sqft lot Garage $189/sqft · 23% below area Est $390k · 23% under $230/mo HOA · 10% of rent

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +6.0/30.0
• Schools +5.8/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +3.3/5.0
• 1% rule +2.3/10.0
• DSCR +0.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Introducing the Mendelssohn, a beautifully designed home that perfectly blends the low maintenance ease of townhome living with the space and comfort of a single family residence, plus the exciting opportunity to personalize your interior selections to truly make the house your home. The main living level showcases a spacious, modern kitchen with a large island that opens seamlessly to a bright, light filled living room, perfect for entertaining, gathering with friends and family, or enjoying relaxing everyday moments.

Key facts

• $230 HOA
• Garage
• Community pool

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $300k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-568 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $218k (27.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $220k (26.8% below list).
• Recommended offer: $218k (27.4% below list) — sets the bar for cash-flow.

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: 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.
• Zoned schools: Patriots Elementary (math 59% / reading 57%, grade C+, #236 of 1,410 statewide, top 17%, 901 students, 37% FRL); C C Griffin Middle (math 42% / reading 46%, grade D, #176 of 475 statewide, top 38%, 959 students, 56% FRL); Central Cabarrus High (math 64% / reading 58%, grade C+, #202 of 535 statewide, top 39%, 1,305 students, 55% FRL).
• Market conditions: Rents rising (+3.2%/yr); 449 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 30d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 54% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 2,485 units permitted in Cabarrus County in 2024 (677 in 5+ unit buildings).
• This rent runs 33% 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 $9k 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 32 days — a 3% lower offer ($291k) is reasonable based on typical stale-listing flexibility.

Recommended offer $217,788 (27.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.73% ✗
• Cap rate: 4.02%
• Cash-on-cash: -8.12%
• DSCR: 0.64
• GRM: 11.4

CMA / ARV

• ARV (median comp): $389,653
• List price: $299,990
• Delta: -23.01%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7347 Raylee Ave SW	0.19mi	3/2.0	1,554 (-2%)	2mo	$345,000	$222	84
1687 Mill Creek Ln SW	0.29mi	3/2.0	1,580 (-0%)	6mo	$390,000	$247	79
1654 Scarbrough Cir SW	0.27mi	3/2.0	1,627 (+3%)	5mo	$390,000	$240	77
7650 Rocky River Rd	0.29mi	3/2.0	1,392 (-12%)	1mo	$330,000	$237	63
1691 Mill Creek Ln SW	0.30mi	2/2.0 (-1)	1,543 (-3%)	15mo	$320,000	$207	62
6922 Brandon Chase Ln	0.66mi	3/2.5	1,486 (-6%)	10mo	$290,000	$195	51
6849 Blake Brook Dr	0.74mi	3/2.0	1,608 (+2%)	16mo	$360,000	$224	48
7128 Rock Bass Ct	0.67mi	3/2.5	1,742 (+10%)	15mo	$365,000	$210	39
7021 Merrymount Ct	0.67mi	3/2.0	1,747 (+10%)	17mo	$363,000	$208	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -30.2%
• Equity multiple: -0.00×
• Total profit: $-84,109
• Equity at exit: $44,729

10-year hold

• IRR: -30.3%
• Equity multiple: -0.39×
• Total profit: $-117,020
• Equity at exit: $25,938

Cash invested: $83,997 (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 →

Seller's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 1 active · 2 under contract
• Months of supply: 1.2 mo (83%/mo absorbed)
• Median asking: $309,990 ($196/sqft)
• Median days on market: 30 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +25.7% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 28025

• Rents YoY: 3.2%
• Active inventory: 449
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $2,196 high
• Mortgage (P&I): −$1,573
• Tax est. 1.5%: −$375 /mo · $4,500/yr
• Insurance: −$125
• HOA: −$230
• Vacancy / Maint / Mgmt: −$461
• Net cashflow: $-568

Break-even live

Break-even rent $2,915

Max offer price $217,788

Occupancy floor —

Sensitivity live

Price	-10% $-361	-5% $-464	+0% $-568	+5% $-672	+10% $-775
Rent	-10% $-742	-5% $-655	+0% $-568	+5% $-481	+10% $-395
Rate	-1.0pp $-417	-0.5pp $-492	base $-568	+0.5pp $-646	+1.0pp $-725

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: $74,998
• Closing costs: $9,000
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7637 Griffins Gate Dr SW Concord, NC	4.0	3.5	1568	$1,900	$1.21	67d	1	0.04mi
7631 Griffins Gate Dr SW Concord, NC	3.0	2.5	1800	$2,500	$1.39	119d	1	0.05mi
7347 Raylee Ave SW Concord, NC	3.0	2.0	1554	$2,100	$1.35	0d	1	0.22mi
7347 Raylee Ave SW Concord, NC	3.0	2.0	1554	$2,100	$1.35	5d	1	0.22mi
1524 Scarbrough Cir SW Concord, NC	3.0	2.5	2113	$2,150	$1.02	113d	1	0.28mi
6926 Brandon Chase Ln Concord, NC	3.0	2.5	2080	$1,995	$0.96	30d	1	0.65mi
7027 Merrymount Ct Concord, NC	3.0	2.0	1967	$2,135	$1.09	56d	1	0.67mi
6905 Brandon Chase Ln Concord, NC	3.0	2.5	1771	$2,055	$1.16	113d	1	0.71mi
6827 Blake Brook Dr Concord, NC	3.0	2.5	1664	$1,920	$1.15	0d	1	0.80mi
6840 Thistle Down Dr Harrisburg, NC	4.0	2.5	2042	$2,295	$1.12	7d	1	0.94mi
6908 Sequoia Hills Dr Harrisburg, NC	4.0	2.5	2204	$2,070	$0.94	70d	1	1.20mi
6799 Sequoia Hills Dr Harrisburg, NC	4.0	2.5	2141	$2,350	$1.10	10d	1	1.23mi
2021 Moss Creek Dr Harrisburg, NC	4.0	2.5	2132	$2,395	$1.12	7d	1	1.26mi

Property features AI

Finance

• Other: Development status: ProposedArchitectural review restriction
• HOA & community: Mandatory HOAMonthly HOA fee of $230Community amenities include clubhouse, dog park, fitness center, outdoor pool, playground, sidewalks, street lights, and walking trailsPets allowed

Exterior

• Parking: Detached garage with garage door openerOne garage spacePartial driveway in front of garage and full driveway next to itAdditional parking spaces/driveway
• Security: Smoke detectorsCarbon monoxide detectors
• Utilities: City waterPublic sewerCable availableUnderground power lines and utilities
• Home design: Townhouse (residential)Two levelsEntry level: 1Planned Unit Development (PUD)New construction (proposed)
• Construction: Site-built constructionBrick partial and vinyl exteriorSlab foundationNew construction by Ryan Homes (model: Mendelssohn)Proposed completion date: 2026-10-15
• Exterior features: Front porchPatioPartially fenced backyardBackyard fencingLawn maintenance providedConcrete and paved road accessPublicly maintained road

Interior

• Kitchen: DishwasherDisposalElectric ovenElectric rangeGas rangeExhaust hoodMicrowavePlumbed for ice makerTankless water heater
• Bedrooms: Three bedrooms on the upper level
• Flooring: CarpetTileVinyl
• Bathrooms: Two full bathroomsOne half bathroom on the main levelRaised toilet in bathroom (accessibility feature)
• Heating & cooling: Natural gas heatingElectric cooling
• Interior features: Open floorplanKitchen islandPantryAttic walk-inAttic (other)StorageWalk-in closetsInsulated windowsWindow treatmentsSliding doors
• Laundry & utility: Washer hookupDryer hookup (electric)Laundry room located on upper levelLaundry inside

Listing history 3 events

1. 2026-06-01
   days on market $299,990 Active 32 DOM
2. 2026-05-31
   days on market $299,990 Active 31 DOM
3. 2026-04-30
   listed $299,990 Active

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

Taxation est. · year 1

• Rental income: $26,356
• − Mortgage interest: −$16,804
• − Property taxes: −$4,500
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,108
• − Management: −$2,108
• − HOA: −$2,760
• − Depreciation: −$8,727
• Taxable loss: −$12,152
• Est. tax savings @ 24.0%: +$2,916
• After-tax cash flow: $-3,900/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab Est. rehab $7,920–$23,760 screening

This well-maintained townhome is in good condition with a good condition score of 80. It has a good kitchen, bathrooms, and exterior. The home is move-in ready with minor maintenance items to address. The highest-ROI updates would be painting the exterior and interior walls, landscaping improvements, HVAC maintenance, and kitchen and bathroom updates.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — A well-maintained lawn and landscaping can increase both resale and rental value. ↑
• Both HVAC maintenance — A clean and functioning HVAC system is essential for comfort and energy efficiency. ↑
• Both Kitchen and bathroom updates — Modernizing these spaces can attract more buyers and renters, especially if the home is being sold or rented out. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 58/100

Zoned Schools

Elementary Patriots Elementary C+ NC #236/1,410 Nat'l #8,292/41,679 Middle C C Griffin Middle D NC #176/475 Nat'l #4,963/14,009 High Hickory Ridge High B+ NC #107/535 Nat'l #1,878/17,239

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

A Composite livability gradescore 81/100

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 · 239,273 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: 6% of renters

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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%

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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%

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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

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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

Property features AI

Finance

• Other: Development status: ProposedArchitectural review restriction
• HOA & community: Mandatory HOAMonthly HOA fee of $230Community amenities include clubhouse, dog park, fitness center, outdoor pool, playground, sidewalks, street lights, and walking trailsPets allowed

Exterior

• Parking: Detached garage with garage door openerOne garage spacePartial driveway in front of garage and full driveway next to itAdditional parking spaces/driveway
• Security: Smoke detectorsCarbon monoxide detectors
• Utilities: City waterPublic sewerCable availableUnderground power lines and utilities
• Home design: Townhouse (residential)Two levelsEntry level: 1Planned Unit Development (PUD)New construction (proposed)
• Construction: Site-built constructionBrick partial and vinyl exteriorSlab foundationNew construction by Ryan Homes (model: Mendelssohn)Proposed completion date: 2026-10-15
• Exterior features: Front porchPatioPartially fenced backyardBackyard fencingLawn maintenance providedConcrete and paved road accessPublicly maintained road

Interior

• Kitchen: DishwasherDisposalElectric ovenElectric rangeGas rangeExhaust hoodMicrowavePlumbed for ice makerTankless water heater
• Bedrooms: Three bedrooms on the upper level
• Flooring: CarpetTileVinyl
• Bathrooms: Two full bathroomsOne half bathroom on the main levelRaised toilet in bathroom (accessibility feature)
• Heating & cooling: Natural gas heatingElectric cooling
• Interior features: Open floorplanKitchen islandPantryAttic walk-inAttic (other)StorageWalk-in closetsInsulated windowsWindow treatmentsSliding doors
• Laundry & utility: Washer hookupDryer hookup (electric)Laundry room located on upper levelLaundry inside

Price history

+3.8% since first listed

2 events — show timeline

• 2026-06-02 Price Changed $311,440 CANOPYMLS as Distributed by MLS Grid
• 2026-04-30 Listed $299,990 CANOPYMLS as Distributed by MLS Grid