4268 Vincent St · Kannapolis, NC 28081

$215,000

4 bd · 2.0 ba · 1,764 sqft · SingleFamily public records · 37 Days on market

Built 1955 0.44 ac lot Est $355k · 39% under

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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 +21.3/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• 1% rule +4.8/10.0
• 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

Multi Offers - Highest and best by Wed. 5/27 at 3PM - Opportunity to invest in a 4 bed 2 bath home. This one is a rare find, full brick, all on one level, good sized lot, and large kitchen. Home needs TLC but great for investors or handyperson. Being sold as-is and cash offers only. Kitchen features granite, all appliances, and tiled floors. Back deck overlooks private rear lot. Please read agent only for offer instructions and agent disclosures. Hankin and Pack is preferred attorney.

Key facts

• Full brick
• Tiled floors
• Private rear lot

Tags

• FULL BRICK
• LARGE KITCHEN
• GRANITE
• TILED FLOORS
• PRIVATE REAR LOT

Property features AI

Finance

• Other: Zoned LDR
• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: City water; Public sewer
• Home design: Single-family residence; One story; Residential property
• Construction: Site-built home; Full brick exterior
• Exterior features: Lot on approximately 0.44 acres; Buyer to provide survey; Paved road; publicly maintained; Property completed

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: Four bedrooms on the main level
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Six total rooms; Fireplace; Mud room
• Laundry & utility: Interior laundry on the main level

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $317 ($4k/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 $210k (2.2% below list).
• Recommended offer: $209k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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+, schools F, amenities 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.
• Market conditions: Rents rising (+2.5%/yr); 225 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 2,485 units permitted in Cabarrus County in 2024 (677 in 5+ unit buildings).
• This rent runs 35% of the median local income ($72k/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 $1k of loan paydown is wiped out by about $6k 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 37 days — a 3% lower offer ($209k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $88k; list at $215k implies a 144% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — 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 $208,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.98% ✗
• Cap rate: 8.06%
• Cash-on-cash: 6.31%
• DSCR: 1.28
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $354,564
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1909 Normandy Rd	0.20mi	3/1.5 (-1)	1,670 (-5%)	10mo	$245,000	$147	66
150 Westover Ave	0.44mi	3/2.0 (-1)	1,683 (-5%)	6mo	$444,000	$264	62
5725 Olive Beach Rd	0.57mi	3/2.5 (-1)	1,735 (-2%)	12mo	$364,999	$210	54
1208 Pine St	0.65mi	3/2.0 (-1)	1,812 (+3%)	8mo	$365,000	$201	53
4425 Dusty Orchard Rd	0.61mi	3/2.5 (-1)	1,735 (-2%)	18mo	$416,000	$240	47
5923 Charleston Ave	0.64mi	3/2.0 (-1)	1,677 (-5%)	14mo	$211,000	$126	45
1005 Maywood St	0.73mi	4/2.0	1,944 (+10%)	13mo	$305,000	$157	38
562 Westover Ave	0.66mi	3/2.5 (-1)	1,514 (-14%)	6mo	$305,000	$201	34
210 Westover Ave	0.50mi	3/3.0 (-1)	1,536 (-13%)	22mo	$223,500	$146	28

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: -7.1%
• Equity multiple: 0.74×
• Total profit: $-15,778
• Equity at exit: $32,057

10-year hold

• IRR: 1.8%
• Equity multiple: 1.13×
• Total profit: $7,733
• Equity at exit: $18,589

Cash invested: $60,200 (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: 225
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,104 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$128 /mo · $1,538/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$442
• Net cashflow: $317

Break-even live

Break-even rent $1,703

Max offer price $215,000

Occupancy floor 80%

Sensitivity live

Price	-10% $438	-5% $378	+0% $317	+5% $256	+10% $195
Rent	-10% $150	-5% $234	+0% $317	+5% $400	+10% $483
Rate	-1.0pp $425	-0.5pp $371	base $317	+0.5pp $261	+1.0pp $204

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4425 Dusty Orchard Rd Unit 212 Kannapolis, NC	3.0	2.5	1735	$2,295	$1.32	20d	1	0.60mi
5945 Granbury Dr Kannapolis, NC	3.0	2.5	1498	$2,250	$1.50	3d	1	0.65mi
5710 Granbury Dr Kannapolis, NC	3.0	2.5	1576	$1,950	$1.24	3d	1	0.66mi
1110 Mason St Kannapolis, NC	4.0	2.0	1400	$1,850	$1.32	16d	1	0.84mi
126 Glenn Ave Unit NA Kannapolis, NC	3.0	3.0	1541	$2,250	$1.46	3d	1	0.86mi
1022 W C St Kannapolis, NC	3.0	2.5	1407	$2,100	$1.49	25d	1	0.88mi
310 Glenn Ave Kannapolis, NC	3.0	2.5	1475	$2,050	$1.39	6d	1	0.96mi
1005 Rainbow Dr Kannapolis, NC	3.0	2.0	1500	$1,575	$1.05	25d	1	1.03mi
333 Central Ave Kannapolis, NC	3.0	1.0	1800	$1,620	$0.90	19d	1	1.23mi
907 Victoria Ave Kannapolis, NC	3.0	2.0	1330	$1,715	$1.29	25d	1	1.46mi

Listing history 18 events

1. 2026-06-21
   days on market $215,000 Active 37 DOM
2. 2026-06-18
   days on market $215,000 Active 34 DOM
3. 2026-06-17
   days on market $215,000 Active 33 DOM
4. 2026-06-16
   days on market $215,000 Active 32 DOM
5. 2026-06-15
   price $215,000 Active 31 DOM
6. 2026-06-15
   days on market $229,900 Active 31 DOM
7. 2026-06-13
   days on market $229,900 Active 29 DOM
8. 2026-06-09
   days on market $229,900 Active 25 DOM
9. 2026-06-08
   days on market $229,900 Active 24 DOM
10. 2026-06-07
    days on market $229,900 Active 23 DOM
11. 2026-06-04
    pricedays on market $229,900 Active 20 DOM
12. 2026-06-03
    days on market $249,900 Active 19 DOM
13. 2026-06-02
    days on market $249,900 Active 18 DOM
14. 2026-06-01
    days on market $249,900 Active 17 DOM
15. 2026-05-31
    days on market $249,900 Active 16 DOM
16. 2026-05-15
    listed $249,900 Active
17. 2013-05-03
    soldstatus $88,000
18. 1988-11-01
    soldstatus $52,500

ⓘ 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: $1,538 · $128/mo
• Projected year-2 tax: $1,763 · $147/mo
• Expected delta: +$225/yr (+$19/mo · 14.6%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 16% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,244
• − Mortgage interest: −$12,043
• − Property taxes: −$1,538
• − Insurance: −$1,075
• − Repairs & maintenance: −$2,020
• − Management: −$2,020
• − Depreciation: −$6,255
• Taxable income: $294
• Est. tax owed @ 24.0%: −$71
• After-tax cash flow: $3,730/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

• 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 (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: 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 · 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: ▼ -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

+376.0% since first listed

3 events — show timeline

• 2026-05-15 Listed $249,900 CANOPYMLS as Distributed by MLS Grid
• 2013-05-03 Sold (Public Records) $88,000 Public Records
• 1988-11-01 Sold (Public Records) $52,500 Public Records

Property tax history

+5.2%/yr

Latest (2025): $1,538 · +0.0% YoY. Source: county tax records.