417 York Ave · Kannapolis, NC 28083

$185,000

3 bd · 1.0 ba · 1,182 sqft · SingleFamily public records · 4 Days on market

Built 1930 5,227 sqft lot Est $251k · 26% 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 +16.9/30.0
• ARV discount +15.0/15.0
• DSCR +5.2/10.0
• 1% rule +4.2/10.0
• Livability +3.2/5.0
• Rent growth +3.0/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 3 bedroom, 1 bath home offers plenty of space and potential. Featuring generously sized rooms and a new roof. While this home could use some updating, it provides the ideal opportunity to add your personal style and create the home of your dreams. This home is a fantastic find.

Key facts

• Spacious kitchen
• Hardwood floors
• Laundry hookups

Tags

• HARDWOOD FLOORS
• WALKING DISTANCE TO DOWNTOWN
• RECENTLY REPLACED ROOF
• ROCKING CHAIR FRONT PORCH
• SPACIOUS KITCHEN
• LAUNDRY HOOKUPS

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: City water; Public sewer
• Home design: Single-family residential; Site-built; One story
• Construction: Vinyl exterior; Crawl space foundation
• Exterior features: Front porch; Roads are dirt and paved; publicly maintained

Interior

• Kitchen: Electric range
• Bedrooms: 3 bedrooms on the main level; Bedroom sizes include approximately 12'10" x 15'4", 14'3" x 13'0", 13'4" x 12'11", 13'3" x 14'11", and 11'11" x 13'0" (all main level)
• Flooring: Wood flooring
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Heat pump (heating and cooling)
• Interior features: 7 total rooms; Electric range; Wood flooring; Heat pump for heating and cooling
• Laundry & utility: Utility room for laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $121 ($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 $169k (8.5% below list).
• Recommended offer: $169k (8.5% below list) — sets the bar for 1% rule.
• Cap rate 7.1% 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+, 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: Forest Park Elementary (math 32% / reading 36%, grade F, #882 of 1,410 statewide, top 63%, 444 students, 99% 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 100% FRL vs 63% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.1%/yr); 144 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 31% of the median local income ($66k/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

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 1930 — 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 $169,308 (8.5% below list)

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.92% ✗
• Cap rate: 7.08%
• Cash-on-cash: 2.81%
• DSCR: 1.12
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $250,584
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
900 Buick Ave	0.32mi	3/1.5	1,163 (-2%)	1mo	$205,000	$176	80
411 Ford St	0.30mi	3/1.0	1,225 (+4%)	5mo	$239,000	$195	76
351 Old Centergrove Rd	0.13mi	3/1.0	1,030 (-13%)	1mo	$179,300	$174	72
207 S East Ave	0.36mi	2/1.0 (-1)	1,154 (-2%)	3mo	$249,000	$216	72
609 Huron St	0.16mi	3/2.5	1,300 (+10%)	2mo	$309,000	$238	68
351 Center St	0.16mi	3/2.0	1,330 (+12%)	3mo	$295,000	$222	65
723 Dale Earnhardt Blvd	0.39mi	2/2.0 (-1)	1,300 (+10%)	1mo	$275,000	$212	55
304 Bell St	0.39mi	3/2.0	1,038 (-12%)	3mo	$201,000	$194	55
829 Richard Ave	0.64mi	3/1.0	1,306 (+10%)	2mo	$160,000	$123	51
600 Foster St	0.42mi	2/2.0 (-1)	1,040 (-12%)	1mo	$225,000	$216	50
307 Caldwell St	0.58mi	2/1.0 (-1)	1,068 (-10%)	4mo	$130,000	$122	48
143 Johndy Ave	0.67mi	3/2.5	1,339 (+13%)	2mo	$287,225	$215	39

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 · 2.15% rent growth · sell at horizon

5-year hold

• IRR: -12.8%
• Equity multiple: 0.54×
• Total profit: $-23,706
• Equity at exit: $27,584

10-year hold

• IRR: -5.1%
• Equity multiple: 0.68×
• Total profit: $-16,544
• Equity at exit: $15,995

Cash invested: $51,800 (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 28083

• Rents YoY: 2.1%
• Active inventory: 144
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,693 high
• Mortgage (P&I): −$970
• Tax from tax record: −$169 /mo · $2,029/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$356
• Net cashflow: $121

Break-even live

Break-even rent $1,540

Max offer price $185,000

Occupancy floor 88%

Sensitivity live

Price	-10% $226	-5% $174	+0% $121	+5% $69	+10% $16
Rent	-10% $-13	-5% $54	+0% $121	+5% $188	+10% $255
Rate	-1.0pp $214	-0.5pp $168	base $121	+0.5pp $73	+1.0pp $25

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
404 S Rose Ave Kannapolis, NC	3.0	2.0	1197	$1,795	$1.50	13d	1	0.10mi
801 Desoto Ave Kannapolis, NC	2.0	1.0	1353	$1,400	$1.03	6d	1	0.24mi
310 Pineview St Kannapolis, NC	2.0	1.0	813	$1,599	$1.97	12d	1	0.25mi
310 Pineview St Unit NA Kannapolis, NC	2.0	1.0	813	$1,650	$2.03	19d	1	0.25mi
531 Park St Kannapolis, NC	2.0	1.5	1050	$1,235	$1.18	25d	1	0.30mi
528 Walter St Kannapolis, NC	2.0	1.5	1050	$1,350	$1.29	25d	1	0.31mi
530 Walter St Kannapolis, NC	2.0	1.5	1050	$1,350	$1.29	25d	1	0.32mi
210 S Main St Kannapolis, NC	3.0	1.0–2.0	914	$2,726	$2.98	0d	21	0.47mi
200 S Main St Kannapolis, NC	2.0	1.0–2.0	880	$2,495	$2.84	0d	84	0.51mi
701 Rain Place Ct Kannapolis, NC	2.0	1.0	800	$1,290	$1.61	6d	2	0.52mi
515 Broad St Kannapolis, NC	2.0	1.0	800	$1,250	$1.56	25d	1	0.55mi
103 S Ridge Ave #5 Kannapolis, NC	3.0	2.5	1100	$1,600	$1.45	25d	1	0.56mi
706 Hillside St Kannapolis, NC	3.0	2.0	1371	$1,545	$1.13	4d	1	0.56mi
760 Hillside St Kannapolis, NC	2.0	2.5	1008	$1,495	$1.48	14d	1	0.65mi
1300 Meadow Ave Kannapolis, NC	2.0	2.0	1200	$900	$0.75	25d	1	0.70mi
1300 Meadow Ave Unit D Kannapolis, NC	2.0	1.5	1200	$900	$0.75	25d	1	0.70mi
1206 Belair Ave Kannapolis, NC	3.0	2.0	1425	$1,695	$1.19	14d	1	0.72mi
705 Rainbow Dr Kannapolis, NC	3.0	1.5	1166	$1,400	$1.20	0d	1	0.83mi
804 Klondale Ave Kannapolis, NC	2.0	1.0	996	$1,295	$1.30	19d	1	0.83mi
816 Fairview St Unit A Kannapolis, NC	3.0	2.5	1288	$1,750	$1.36	25d	1	0.83mi
710 Irene Ave Unit A Kannapolis, NC	3.0	2.0	1064	$1,700	$1.60	25d	1	0.84mi
907 Victoria Ave Kannapolis, NC	3.0	2.0	1330	$1,715	$1.29	25d	1	0.90mi
1 Dale Earnhardt Blvd Kannapolis, NC	3.0	2.0	1200	$2,400	$2.00	18d	1	0.91mi
1005 Rainbow Dr Kannapolis, NC	3.0	2.0	1500	$1,575	$1.05	25d	1	0.94mi
421 N East Ave Kannapolis, NC	3.0	1.0	850	$1,550	$1.82	19d	1	1.00mi
1110 Mason St Kannapolis, NC	4.0	2.0	1400	$1,850	$1.32	16d	1	1.02mi
1017 McLain Rd Kannapolis, NC	3.0	2.0	1046	$1,600	$1.53	3d	1	1.06mi
602 N Juniper Ave Kannapolis, NC	2.0	1.0	1200	$1,300	$1.08	16d	1	1.15mi
500 Jackson Park Rd Unit 12 Kannapolis, NC	2.0	1.5	925	$1,305	$1.41	16d	1	1.18mi
300 Sandy Ct Kannapolis, NC	1.0–2.0	1.0	854	$1,254	$1.47	25d	1	1.20mi
1065 Ridgeway Dr Kannapolis, NC	1.0–3.0	1.0–2.0	1003	$1,341	$1.34	25d	1	1.23mi
1361 Ontario Dr Kannapolis, NC	3.0	2.5	1240	$1,850	$1.49	6d	1	1.25mi
1402 Martin Luther King Ave Unit B Kannapolis, NC	3.0	2.5	1500	$1,978	$1.32	25d	1	1.25mi
1004 Valley St Kannapolis, NC	2.0	2.0	1322	$2,200	$1.66	0d	1	1.26mi
200 Franklin Ave Unit 200 Kannapolis, NC	2.0	1.5	1024	$1,500	$1.46	22d	1	1.27mi
1300 Oakwood Ave Unit 827 Kannapolis, NC	2.0	1.5	832	$1,100	$1.32	25d	1	1.28mi
1022 W C St Kannapolis, NC	3.0	2.5	1407	$2,100	$1.49	25d	1	1.32mi
5945 Granbury Dr Kannapolis, NC	3.0	2.5	1498	$1,900	$1.27	0d	1	1.35mi
839 Robinhood Ln Unit 10 Kannapolis, NC	2.0	1.0	700	$1,050	$1.50	4d	1	1.39mi
919 N Walnut St Kannapolis, NC	2.0	1.0	794	$1,375	$1.73	16d	1	1.43mi

Listing history 3 events

1. 2026-06-21
   days on market $185,000 Active 4 DOM
2. 2026-06-17
   remarks 549-char remark
3. 2026-06-17
   listed $185,000 Active 1 DOM

ⓘ 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: $2,029 · $169/mo
• Projected year-2 tax: $2,029 · $169/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 15% 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: $20,317
• − Mortgage interest: −$10,363
• − Property taxes: −$2,029
• − Insurance: −$925
• − Repairs & maintenance: −$1,625
• − Management: −$1,625
• − Depreciation: −$5,382
• Taxable loss: −$1,632
• Est. tax savings @ 24.0%: +$392
• After-tax cash flow: $1,846/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): 28,095
• Household income: $66,257
• Rent vs Own: 35.6% rent · 64.4% own
• Severe rent burden: 633.0

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 55% Black 25% Hispanic / Latino 16% Two or more races 5% Asian 1%
• Hispanic origin (detail): Mexican 11% Puerto Rican 3%
• Common ancestry: Slovak 2% Serbian 1% Lithuanian 1%
• Foreign-born: 8% · Canada
• Languages at home: 85% English-only · Spanish 13% Tagalog/Filipino 1% Other Indo-European 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: ▼ -318.30%
• Current HPI: 307.0675
• Rent YoY: ▲ 2.15%
• 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

+255.8% since first listed

10 events — show timeline

• 2026-06-17 Listed $185,000 CANOPYMLS as Distributed by MLS Grid
• 2026-01-08 Sold (Public Records) $170,000 Public Records
• 2026-01-08 Sold (MLS) $170,000 CANOPYMLS as Distributed by MLS Grid
• 2025-12-11 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2025-12-01 Price Changed $189,000 CANOPYMLS as Distributed by MLS Grid
• 2025-11-24 Price Changed $199,000 CANOPYMLS as Distributed by MLS Grid
• 2025-10-25 Price Changed $210,000 CANOPYMLS as Distributed by MLS Grid
• 2025-09-11 Listed $235,000 CANOPYMLS as Distributed by MLS Grid
• 2006-03-31 Sold (Public Records) $63,500 Public Records
• 1999-10-01 Sold (Public Records) $52,000 Public Records

Property tax history

+3.0%/yr

Latest (2025): $2,029 · +0.0% YoY. Source: county tax records.