245 Cliffwood St NW Unit B-12 · Concord, NC 28027

$245,000

3 bd · 2.5 ba · 1,338 sqft · Townhouse · 113 Days on market

Built 2026 Good condition $183/sqft · 10% below area Est $271k · 10% under

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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 +11.8/15.0
• Cash flow +9.7/30.0
• Schools +4.7/10.0
• Condition / age +4.2/5.0
• Livability +4.0/5.0
• 1% rule +2.9/10.0
• DSCR +2.7/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Discover the Lucas Townhome, a versatile floorplan featuring 1,338 square feet, offering 3 Bedrooms and 2.5 Bathrooms to accommodate diverse family needs. This floorplan provides ample space for comfortable living, catering to smaller or larger families alike. On the First Floor, you'll find an open Great Room, Kitchen, and Dining Nook with a Powder Room attached. The Second Floor offers a Primary Suite, two additional Bedrooms, an additional Bathroom, and Laundry space. The property's design is highly adaptable, with various customization options to align with your personal preferences.

Key facts

• Built 2026
• Listed 112 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $245k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-162 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $222k (9.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $194k (20.9% below list).
• Recommended offer: $194k (20.9% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 3.4% 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: 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: Weddington Hills Elementary (math 47% / reading 46%, grade D-, #542 of 1,410 statewide, top 39%, 937 students, 58% FRL); Harold E. Winkler Middle (math 49% / reading 47%, grade C-, #134 of 475 statewide, top 29%, 856 students, 43% FRL); Concord High (math 42% / reading 50%, grade D-, #346 of 535 statewide, top 65%, 984 students, 66% FRL) — zoned schools average 56% FRL vs 36% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.2%/yr); 730 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals lingering (median 43d 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).

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 113 days — a 9% lower offer ($223k) is reasonable based on typical stale-listing flexibility.

Recommended offer $193,850 (20.9% 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 113 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 0.79% ✗
• Cap rate: 5.50%
• Cash-on-cash: -2.83%
• DSCR: 0.87
• GRM: 10.5

CMA / ARV

• ARV (median comp): $270,991
• List price: $245,000
• Delta: -9.59%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
245 Cliffwood St NW Unit E 15	0.02mi	3/2.5	1,338 (0%)	0mo	$214,900	$161	99
245 Cliffwood St NW Unit A 11	0.02mi	3/2.5	1,338 (0%)	0mo	$214,900	$161	99
245 Cliffwood St NW Unit 14, D	0.00mi	3/2.5	1,338 (0%)	2mo	$245,000	$183	98
205 Cliffwood St NW Unit UnitC-3	0.04mi	3/2.5	1,338 (0%)	2mo	$255,000	$191	96
225 Cliffwood St NW #9	0.02mi	3/2.5	1,338 (0%)	4mo	$255,000	$191	96
225 Cliffwood St NW Unit B	0.02mi	3/2.5	1,338 (0%)	4mo	$255,000	$191	96
205 Cliffwood St NW Unit A	0.04mi	3/2.5	1,338 (0%)	6mo	$265,000	$198	93
205 Cliffwood St NW Unit D	0.04mi	3/2.5	1,338 (0%)	10mo	$265,000	$198	90
205 Cliffwood St NW Unit UnitB-2	0.04mi	3/2.5	1,338 (0%)	10mo	$275,000	$206	90
2933 Trimble Cir NW	0.63mi	2/2.0 (-1)	1,260 (-6%)	1mo	$270,000	$214	53
2956 Trimble Cir NW	0.68mi	2/2.0 (-1)	1,274 (-5%)	2mo	$275,000	$216	51
407 Hertling Dr NW	0.69mi	2/2.0 (-1)	1,267 (-5%)	13mo	$279,900	$221	41

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -24.4%
• Equity multiple: 0.19×
• Total profit: $-55,653
• Equity at exit: $36,530

10-year hold

• IRR: -31.9%
• Equity multiple: -0.22×
• Total profit: $-83,561
• Equity at exit: $21,183

Cash invested: $68,600 (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 →

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

Active competition Active MLS

• For sale now: 27 active · 29 under contract
• Months of supply: 7.7 mo (13%/mo absorbed)
• Median asking: $224,900 ($168/sqft)
• Median days on market: 13 d
• This list price: 52% of active listings are priced below it
• ARV vs active asking: +20.5% above current asking $/sqft

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

ZIP-level market 28027

• Rents YoY: -0.2%
• Active inventory: 730
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,938 high
• Mortgage (P&I): −$1,285
• Tax est. 1.5%: −$306 /mo · $3,675/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$407
• Net cashflow: $-162

Break-even live

Break-even rent $2,143

Max offer price $221,598

Occupancy floor —

Sensitivity live

Price	-10% $8	-5% $-77	+0% $-162	+5% $-246	+10% $-331
Rent	-10% $-315	-5% $-238	+0% $-162	+5% $-85	+10% $-9
Rate	-1.0pp $-38	-0.5pp $-99	base $-162	+0.5pp $-225	+1.0pp $-290

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: $61,250
• Closing costs: $7,350
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
335 Cliffwood St NW Unit E Concord, NC	3.0	2.5	1338	$1,695	$1.27	43d	1	0.08mi
415 Peigler St NW Concord, NC	4.0	2.5	1688	$1,950	$1.16	6d	1	0.30mi
214 Parkway Ave NW Concord, NC	3.0	2.5	1290	$2,145	$1.66	4d	1	0.58mi
299 Gurley Dr NW Concord, NC	3.0	2.0	1200	$1,700	$1.42	87d	1	0.59mi
435 Central Dr NW Concord, NC	4.0	2.0	1252	$1,850	$1.48	113d	1	0.61mi
100 Crown Point Cir NW Concord, NC	1.0–2.0	1.0–2.0	1018	$1,550	$1.52	6d	2	0.61mi
641 Central Dr NW Concord, NC	3.0	2.0	1601	$2,295	$1.43	119d	1	0.62mi
95 Suncrest Ter NW Concord, NC	3.0	2.0	1152	$1,595	$1.38	2d	1	0.67mi
785 Kitfox Dr NW Unit 131 Concord, NC	3.0	2.5	1787	$2,350	$1.32	10d	1	0.78mi
826 Earhart St Concord, NC	3.0	2.5	1603	$1,995	$1.24	0d	1	0.80mi
826 Earhart St Concord, NC	3.0	2.5	1603	$1,995	$1.24	27d	1	0.80mi
826 Earhart St Concord, NC	3.0	2.5	1603	$1,995	$1.24	3d	1	0.80mi
785 Earhart St Concord, NC	3.0	2.5	1839	$2,150	$1.17	97d	1	0.81mi
2690 Yeager Dr NW Unit 1 Concord, NC	3.0	3.0	1688	$2,000	$1.18	10d	1	0.83mi
2690 Yeager Dr Concord, NC	3.0	2.5	1666	$1,950	$1.17	10d	1	0.83mi
758 Earhart St Concord, NC	3.0	2.5	1656	$2,095	$1.27	119d	1	0.84mi
758 Earhart St Concord, NC	3.0	3.0	1656	$2,095	$1.27	100d	1	0.84mi
780 Earhart St Concord, NC	3.0	2.5	1688	$1,975	$1.17	119d	1	0.84mi
2794 Yeager Dr NW Unit 1 Concord, NC	3.0	2.5	1839	$2,295	$1.25	100d	1	0.86mi
2794 Yeager Dr NW Unit 1 Concord, NC	3.0	2.5	1839	$2,295	$1.25	113d	1	0.86mi
2744 Yeager Dr Concord, NC	3.0	2.5	1601	$2,050	$1.28	119d	1	0.86mi
2723 Yeager Dr Concord, NC	3.0	3.0	1666	$1,925	$1.16	3d	1	0.88mi
272 Epworth St NW Concord, NC	3.0	2.0	1100	$1,700	$1.55	10d	1	0.88mi
2775 Yeager Dr Concord, NC	3.0	2.5	1650	$2,050	$1.24	4d	1	0.90mi
336 Valley Glenn Ct NW Concord, NC	3.0	2.0	1220	$1,750	$1.43	119d	1	1.01mi
3676 Lake Spring Ave NW Concord, NC	4.0	2.5	1858	$2,370	$1.28	94d	1	1.10mi
69 Lowe Ave NW Concord, NC	2.0	1.0	1008	$1,600	$1.59	88d	1	1.16mi
3365 Prescott Pl NW Concord, NC	3.0	2.0	1150	$1,719	$1.49	6d	1	1.17mi
3380 Chadbury Dr NW Concord, NC	3.0	2.0	1242	$1,850	$1.49	3d	1	1.19mi
3378 Chadbury Dr NW Concord, NC	3.0	2.5	1654	$1,900	$1.15	43d	1	1.19mi
1033 Gaither Pl NW Concord, NC	3.0	2.0	1164	$1,695	$1.46	100d	1	1.21mi
136 Saint Mary Ave NW Concord, NC	2.0	1.5	912	$1,700	$1.86	43d	1	1.29mi
3766 Lake Spring Ave NW Concord, NC	3.0	2.0	1245	$1,925	$1.55	119d	1	1.30mi
96 Peachtree Ave NW Concord, NC	3.0	2.0	1173	$1,670	$1.42	4d	1	1.39mi
100 Ash Ave NW Concord, NC	3.0	2.0	1170	$1,660	$1.42	88d	1	1.40mi
100 Horizon Ct NW Concord, NC	3.0	1.0–2.0	740	$1,491	$2.01	0d	11	1.40mi
380 Canter Ct NW Concord, NC	3.0	2.0	1360	$1,905	$1.40	106d	1	1.41mi
231 Glenn St NW Concord, NC	2.0	2.0	1056	$1,650	$1.56	10d	1	1.43mi
82 Parallel Ct NW Concord, NC	4.0	3.0	1328	$2,400	$1.81	59d	1	1.48mi

Property features AI

Finance

• Other: Address: 245 Cliffwood St NW Unit B-12, Concord, NC 28027Last modified Apr 28, 2026
• Financial info: List price $245,000

Exterior

• Home design: Townhouse (Lucas TH plan)Active status
• Construction: New construction (Spec)
• Exterior features: 1338 living area

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms1 half bathroom (2.5 total bathrooms)
• Interior features: Spec (new construction)

Listing history 50 events

1. 2026-08-06
   days on market $245,000 Active 113 DOM
2. 2026-08-05
   days on market $245,000 Active 112 DOM
3. 2026-08-04
   days on market $245,000 Active 111 DOM
4. 2026-08-03
   days on market $245,000 Active 110 DOM
5. 2026-07-31
   days on market $245,000 Active 107 DOM
6. 2026-07-30
   days on market $245,000 Active 106 DOM
7. 2026-07-30
   days on market $245,000 Active 105 DOM
8. 2026-07-28
   days on market $245,000 Active 104 DOM
9. 2026-07-26
   days on market $245,000 Active 102 DOM
10. 2026-07-24
    days on market $245,000 Active 100 DOM
11. 2026-07-23
    days on market $245,000 Active 99 DOM
12. 2026-07-22
    days on market $245,000 Active 98 DOM
13. 2026-07-21
    days on market $245,000 Active 97 DOM
14. 2026-07-20
    days on market $245,000 Active 96 DOM
15. 2026-07-18
    days on market $245,000 Active 94 DOM
16. 2026-07-18
    days on market $245,000 Active 93 DOM
17. 2026-07-16
    days on market $245,000 Active 92 DOM
18. 2026-07-15
    days on market $245,000 Active 91 DOM
19. 2026-07-14
    days on market $245,000 Active 90 DOM
20. 2026-07-13
    days on market $245,000 Active 89 DOM
21. 2026-07-13
    days on market $245,000 Active 88 DOM
22. 2026-07-11
    days on market $245,000 Active 87 DOM
23. 2026-07-10
    days on market $245,000 Active 86 DOM
24. 2026-07-09
    days on market $245,000 Active 85 DOM
25. 2026-07-07
    days on market $245,000 Active 83 DOM
26. 2026-07-06
    days on market $245,000 Active 82 DOM
27. 2026-07-05
    days on market $245,000 Active 81 DOM
28. 2026-07-03
    days on market $245,000 Active 79 DOM
29. 2026-07-02
    days on market $245,000 Active 78 DOM
30. 2026-07-01
    days on market $245,000 Active 77 DOM
31. 2026-06-30
    days on market $245,000 Active 76 DOM
32. 2026-06-29
    days on market $245,000 Active 75 DOM
33. 2026-06-28
    days on market $245,000 Active 74 DOM
34. 2026-06-27
    days on market $245,000 Active 73 DOM
35. 2026-06-26
    days on market $245,000 Active 72 DOM
36. 2026-06-24
    days on market $245,000 Active 70 DOM
37. 2026-06-22
    days on market $245,000 Active 68 DOM
38. 2026-06-21
    days on market $245,000 Active 67 DOM
39. 2026-06-18
    days on market $245,000 Active 64 DOM
40. 2026-06-17
    days on market $245,000 Active 63 DOM
41. 2026-06-16
    days on market $245,000 Active 62 DOM
42. 2026-06-15
    days on market $245,000 Active 61 DOM
43. 2026-06-13
    days on market $245,000 Active 59 DOM
44. 2026-06-09
    days on market $245,000 Active 55 DOM
45. 2026-06-08
    days on market $245,000 Active 54 DOM
46. 2026-06-07
    days on market $245,000 Active 53 DOM
47. 2026-06-04
    pricedays on market $245,000 Active 50 DOM
48. 2026-06-03
    days on market $265,000 Active 49 DOM
49. 2026-06-02
    days on market $265,000 Active 48 DOM
50. 2026-06-01
    days on market $265,000 Active 47 DOM

ⓘ 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: $23,262
• − Mortgage interest: −$13,724
• − Property taxes: −$3,675
• − Insurance: −$1,225
• − Repairs & maintenance: −$1,861
• − Management: −$1,861
• − Depreciation: −$7,127
• Taxable loss: −$6,211
• Est. tax savings @ 24.0%: +$1,491
• After-tax cash flow: $-450/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 · 14 photos

Good 85/100 Cosmetic rehab Est. rehab $6,690–$20,070 screening

This townhouse is in good condition with minimal repairs needed. Painting the exterior and interior walls, and updating the flooring in the living areas can significantly increase its resale and rental value.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance the curb appeal and interior aesthetics, making the home more attractive to potential buyers and renters. ↑
• Both Updating the flooring in the living areas — Replacing worn-out flooring can improve the overall look and feel of the home, making it more appealing to potential buyers and renters. ↑

ⓘ 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.

F Composite school gradezoned avg 47/100

Zoned Schools

Elementary Weddington Hills Elementary D- NC #542/1,410 Nat'l #15,452/41,679 Middle Harold E. Winkler Middle C- NC #134/475 Nat'l #3,953/14,009 High West Cabarrus High D- NC #334/535 Nat'l #6,330/17,239

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): 81,772
• Household income: $92,219
• Rent vs Own: 36.0% rent · 64.0% own
• Severe rent burden: 15% 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 0.66)
• Race & ethnicity: White 53% Black 19% Hispanic / Latino 14% Two or more races 9% Asian 9%
• Hispanic origin (detail): Mexican 8% Puerto Rican 3%
• Common ancestry: Serbian 2% Slovak 1% Romanian 1%
• Foreign-born: 14% · Canada, Vietnam, Jamaica
• Languages at home: 80% English-only · Spanish 11% Other Asian/Pacific 3% Other Indo-European 3%

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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: ▼ -167.18%
• Current HPI: 238.3699
• Rent YoY: ▼ -0.20%
• 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: Address: 245 Cliffwood St NW Unit B-12, Concord, NC 28027Last modified Apr 28, 2026
• Financial info: List price $245,000

Exterior

• Home design: Townhouse (Lucas TH plan)Active status
• Construction: New construction (Spec)
• Exterior features: 1338 living area

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms1 half bathroom (2.5 total bathrooms)
• Interior features: Spec (new construction)