7356 Childress Dr SW

Concord, NC 28025

$299,990D

3 bd · 2.5 ba · 1,584 sqft · Built 2026 · SingleFamily · Active · 32 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,196/mo
• Mortgage (P&I): −$1,573
• Tax + insurance: −$500
• HOA: −$230
• Vac / Maint / Mgmt: −$461
• Net cashflow: $-568/mo
• Annual: $-6,817/yr
• Cap rate: 4.02%
• Cash-on-cash: -8.12%
• DSCR: 0.64
• 1% rule: 0.73%
• Cash to close: $83,997

Investor read

• This is a 3-bed/2.5-bath single-family listed at $300k. Condition is rated good.
• 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).
• It's been on market 32 days — a 3% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $218k (27.4% below list) — sets the bar for cash-flow.
• 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.
• 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); 448 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 31d 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).
• Cabarrus County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• This rent runs 33% of the median local income ($80k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• 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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.