900 Alma Ave · Kannapolis, NC 28081

$206,900

3 bd · 1.0 ba · 965 sqft · SingleFamily public records · 153 Days on market

Built 1929 6,098 sqft lot Est $212k · at est. ↓ 26% since listing

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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).

• Cash flow +15.9/30.0
• ARV discount +8.6/15.0
• DSCR +4.9/10.0
• 1% rule +3.3/10.0
• Livability +3.2/5.0
• Rent growth +3.1/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

With proximity to the North Carolina Research Center and the new Kannapolis Cannon Ballers Stadium, this location is prime! The rocking chair wrap around front porch welcomes you into this cozy, corner lot home. The eat-in kitchen boasts beautifully detailed wood cabinets, tile countertops, and tile backsplash. Three bedrooms or use one of the rooms as an office. The roof was replaced in 2024 and insulation was added to the attic to ensure efficiency with heating and cooling. Fully furnished, this home is perfect for anyone looking for an investment property, relocating or first time home buyers.

Key facts

• Tile countertops
• Insulation added
• Eat-in kitchen

Tags

• EAT-IN KITCHEN
• TILE COUNTERTOPS
• TILE BACKSPLASH
• CORNER LOT
• ROOF REPLACED
• INSULATION ADDED

Property features AI

Finance

• HOA & community: - No HOA; - No community features listed

Exterior

• Parking: - Driveway
• Utilities: - City water; - Public sewer
• Home design: - Single-family residence; - Site-built construction; - One story; - Crawl space foundation
• Construction: - Vinyl exterior; - Site-built construction; - Crawl space foundation
• Exterior features: - Covered patio/porch areas; - Deck; - Front porch; - Rear porch; - Corner lot; - Road access is on gravel and paved surfaces; - Publicly maintained road

Interior

• Kitchen: - Electric range; - Microwave; - Refrigerator
• Bedrooms: - Three bedrooms on the main level
• Flooring: - Linoleum
• Bathrooms: - One full bathroom (main level); - One half bathroom (main level)
• Heating & cooling: - Natural gas heating; - Central air conditioning
• Interior features: - 7 total rooms; - Linoleum flooring; - Microwave; - Electric range; - Refrigerator
• Laundry & utility: - Washer and dryer included; - Laundry located in hall and inside the home

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $207k.

Deal economics

• At list price, monthly cash flow is $99 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $171k (17.4% below list).
• Recommended offer: $171k (17.4% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 3.5% in Kannapolis — 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 64/100 on livability (#354 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: employment D+, amenities F, commute F.
• Kannapolis City Schools (suburban): math 30% / reading 33% proficiency, ranked #141 of 178 in NC (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: North Kannapolis Elementary (math 37% / reading 27%, grade F, #908 of 1,410 statewide, top 67%, 269 students, 96% FRL); Kannapolis Middle (math 30% / reading 35%, grade F, #312 of 475 statewide, top 66%, 1,238 students, 100% FRL); A L Brown High (math 25% / reading 30%, grade F, #467 of 535 statewide, top 87%, 1,741 students, 100% FRL) — zoned schools average 98% FRL vs 63% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.5%/yr); 226 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 592 units permitted in Rowan County in 2024 (5 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Rowan County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 153 days — a 12% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $170,892 (17.4% below list)

Questions for the listing agent

1. It's been on market 153 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
2. Built in 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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.
8. 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.
9. 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: 0.83% ✗
• Cap rate: 6.87%
• Cash-on-cash: 2.05%
• DSCR: 1.09
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $212,300
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
950 Ashby St	0.11mi	2/1.0 (-1)	944 (-2%)	1mo	$146,500	$155	86
504 Locust St	0.16mi	2/2.0 (-1)	1,024 (+6%)	5mo	$225,000	$220	69
1406 Upper Enochville Rd	0.59mi	3/1.0	1,006 (+4%)	11mo	$214,000	$213	57
1003 W B St	0.50mi	3/2.0	1,054 (+9%)	2mo	$259,000	$246	56
233 Pethel St	0.63mi	2/1.0 (-1)	906 (-6%)	1mo	$200,000	$221	55
910 W A St	0.42mi	2/1.5 (-1)	1,019 (+6%)	11mo	$247,000	$242	55
1006 Callie St	0.72mi	2/1.0 (-1)	993 (+3%)	4mo	$225,000	$227	53
214 E 10th St	0.60mi	2/1.0 (-1)	1,046 (+8%)	0mo	$225,000	$215	53
214 E 11th St	0.60mi	2/1.0 (-1)	1,046 (+8%)	4mo	$229,000	$219	50
1114 Mountain St	0.65mi	2/1.0 (-1)	908 (-6%)	10mo	$245,000	$270	47
301 E 11th St	0.62mi	2/1.0 (-1)	1,040 (+8%)	12mo	$220,000	$212	44
1001 Craven Ave	0.72mi	2/1.0 (-1)	1,048 (+9%)	13mo	$202,000	$193	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 · 2.5% rent growth · sell at horizon

5-year hold

• IRR: -13.6%
• Equity multiple: 0.51×
• Total profit: $-28,173
• Equity at exit: $30,849

10-year hold

• IRR: -5.5%
• Equity multiple: 0.65×
• Total profit: $-20,246
• Equity at exit: $17,889

Cash invested: $57,932 (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 28081

• Rents YoY: 2.5%
• Active inventory: 226
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,709 high
• Mortgage (P&I): −$1,085
• Tax from tax record: −$80 /mo · $960/yr
• Insurance: −$86
• HOA: −$0
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $99

Break-even live

Break-even rent $1,584

Max offer price $206,900

Occupancy floor 89%

Sensitivity live

Price	-10% $216	-5% $157	+0% $99	+5% $40	+10% $-18
Rent	-10% $-36	-5% $31	+0% $99	+5% $166	+10% $234
Rate	-1.0pp $203	-0.5pp $151	base $99	+0.5pp $45	+1.0pp $-9

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: $51,725
• Closing costs: $6,207
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
919 N Walnut St Kannapolis, NC	2.0	1.0	794	$1,375	$1.73	16d	1	0.35mi
421 N East Ave Kannapolis, NC	3.0	1.0	850	$1,550	$1.82	19d	1	0.57mi
500 Jackson Park Rd Unit 12 Kannapolis, NC	2.0	1.5	925	$1,305	$1.41	16d	1	0.77mi
103 S Ridge Ave #5 Kannapolis, NC	3.0	2.5	1100	$1,600	$1.45	25d	1	0.83mi
200 S Main St Kannapolis, NC	2.0	1.0–2.0	880	$2,495	$2.84	0d	84	0.88mi
210 S Main St Kannapolis, NC	3.0	1.0–2.0	914	$2,726	$2.98	0d	21	0.92mi
200 Franklin Ave Unit 200 Kannapolis, NC	2.0	1.5	1024	$1,500	$1.46	22d	1	1.07mi
1024 E 10th St Kannapolis, NC	3.0	1.5	1030	$1,595	$1.55	7d	1	1.09mi
528 Walter St Kannapolis, NC	2.0	1.5	1050	$1,350	$1.29	25d	1	1.42mi
515 Broad St Kannapolis, NC	2.0	1.0	800	$1,250	$1.56	25d	1	1.42mi
530 Walter St Kannapolis, NC	2.0	1.5	1050	$1,350	$1.29	25d	1	1.42mi
531 Park St Kannapolis, NC	2.0	1.5	1050	$1,235	$1.18	25d	1	1.45mi

Listing history 28 events

1. 2026-06-21
   days on market $206,900 Active 153 DOM
2. 2026-06-18
   days on market $206,900 Active 150 DOM
3. 2026-06-17
   days on market $206,900 Active 149 DOM
4. 2026-06-16
   days on market $206,900 Active 148 DOM
5. 2026-06-15
   days on market $206,900 Active 147 DOM
6. 2026-06-13
   days on market $206,900 Active 145 DOM
7. 2026-06-09
   days on market $206,900 Active 141 DOM
8. 2026-06-08
   days on market $206,900 Active 140 DOM
9. 2026-06-07
   days on market $206,900 Active 139 DOM
10. 2026-06-04
    days on market $206,900 Active 136 DOM
11. 2026-06-03
    days on market $206,900 Active 135 DOM
12. 2026-06-02
    days on market $206,900 Active 134 DOM
13. 2026-06-01
    days on market $206,900 Active 133 DOM
14. 2026-05-31
    days on market $206,900 Active 132 DOM
15. 2026-02-11
    price $206,900
16. 2026-01-19
    listed $208,900 Active
17. 2025-08-13
    price $204,900
18. 2025-07-02
    price $219,900
19. 2025-06-30
    status Active
20. 2025-05-20
    price $209,500
21. 2025-04-02
    price $219,900
22. 2025-03-06
    status Active
23. 2025-02-25
    price $224,900
24. 2025-01-29
    status Active
25. 2025-01-29
    price $229,900
26. 2025-01-10
    price $259,900
27. 2024-11-18
    price $264,000
28. 2024-09-16
    listed $279,000 Active

ⓘ 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: $960 · $80/mo
• Projected year-2 tax: $1,697 · $141/mo
• Expected delta: +$736/yr (+$61/mo · 76.7%)

ⓘ 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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 16% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,507
• − Mortgage interest: −$11,590
• − Property taxes: −$960
• − Insurance: −$1,034
• − Repairs & maintenance: −$1,641
• − Management: −$1,641
• − Depreciation: −$6,019
• Taxable loss: −$2,377
• Est. tax savings @ 24.0%: +$571
• After-tax cash flow: $1,756/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: Kannapolis City Schools
• NCES district ID: 3702430
• Math proficiency: 30% ▲ 7.00%
• Reading proficiency: 33% ▼ -2.00%
• Median HH income: $38,534
• Composite: 26.34/100
• National rank: #7237
• State rank: #141 of 178 in NC

Livability — Kannapolis

• Score: 64/100
• State rank: #354
• US rank: #14030

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kannapolis, NC
• County: Cabarrus County · 218,793 people
• City population: 57,170
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 29,075
• Household income: $71,665
• Rent vs Own: 26.5% rent · 73.5% own
• Severe rent burden: 763.0

Population outlook (Rowan County) Hauer SSP2

• Today (2025): 140,430 people
• By 2030: 140,193 · -0.2%
• By 2040: 137,617 · -2.0%
• By 2050: 131,826 · -6.1%
• By 2075: 115,123 · -18.0%
• By 2100: 92,774 · -33.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (65%)
• Race & ethnicity: White 65% Black 18% Hispanic / Latino 12% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 2% Italian 1% Serbian 1%
• Foreign-born: 8% · Canada, China
• Languages at home: 88% English-only · Spanish 10% French/Haitian/Cajun 1% Chinese 1%

Political lean MEDSL · Rowan

• 2024 margin: Solid R (+35.9) · D 31.6% · R 67.5%
• 2008→2024 swing: -13.1pp toward R · 2008: -22.8pp · 2024: -35.9pp
• All cycles: 2024: R+35.9 2020: R+35.7 2016: R+36.8 2012: R+26.0 2008: R+22.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -202.75%
• Current HPI: 282.9002
• Rent YoY: ▲ 2.50%
• 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

-25.8% since first listed

14 events — show timeline

• 2026-02-11 Price Changed $206,900 CANOPYMLS as Distributed by MLS Grid
• 2026-01-19 Listed $208,900 CANOPYMLS as Distributed by MLS Grid
• 2025-08-13 Price Changed $204,900 CANOPYMLS as Distributed by MLS Grid
• 2025-07-02 Price Changed $219,900 CANOPYMLS as Distributed by MLS Grid
• 2025-06-30 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2025-05-20 Price Changed $209,500 CANOPYMLS as Distributed by MLS Grid
• 2025-04-02 Price Changed $219,900 CANOPYMLS as Distributed by MLS Grid
• 2025-03-06 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2025-02-25 Price Changed $224,900 CANOPYMLS as Distributed by MLS Grid
• 2025-01-29 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2025-01-29 Price Changed $229,900 CANOPYMLS as Distributed by MLS Grid
• 2025-01-10 Price Changed $259,900 CANOPYMLS as Distributed by MLS Grid
• 2024-11-18 Price Changed $264,000 CANOPYMLS as Distributed by MLS Grid
• 2024-09-16 Listed $279,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+4.1%/yr

Latest (2025): $960 · +0.0% YoY. Source: county tax records.