3700 Marlboro Dr SW · Concord, NC 28027

$214,900

3 bd · 2.0 ba · 1,404 sqft · Manufactured public records · 6 Days on market

Built 1997 0.74 ac lot

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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 +19.8/30.0
• ARV discount +7.5/15.0
• DSCR +6.3/10.0
• Schools +4.7/10.0
• 1% rule +4.6/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to 3700 Marlboro Drive SW in one of Concord's most sought-after locations! This charming 3-bedroom, 2-bathroom home offers the perfect blend of comfort and convenience — nestled in the heart of the 28027 zip code, known for its top-rated Cabarrus County schools and easy access to everything the greater Charlotte metro has to offer. Whether you're a growing family or a savvy buyer looking for value in a prime corridor, this home checks all the boxes. Enjoy a functional layout designed for everyday living and entertaining, with spacious bedrooms and a well-appointed primary suite. Step outside and discover a neighborhood that puts you minutes from Concord Mills, premier din

Key facts

• Premier dining
• Top rated schools
• Easy access to i 85

Tags

• SOUGHT AFTER LOCATION
• TOP RATED SCHOOLS
• EASY ACCESS TO I 85
• EASY ACCESS TO I 485
• MINUTES FROM CONCORD MILLS
• PREMIER DINING

Property features AI

Finance

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

Exterior

• Parking: Driveway
• Utilities: City water; Public sewer; Cable available; Phone connected
• Home design: Single-family manufactured home; One level
• Construction: Vinyl exterior; Crawl space foundation
• Exterior features: Lot approximately 0.74 acres; Lot dimensions approximately 130 x 86 x 107 x 183 x 201; Roads are gravel and paved; Publicly maintained road; No waterfront

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Ice maker
• Bedrooms: Three bedrooms on the main level
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Electric heating; Central air conditioning (electric)
• Interior features: 9 total rooms; Utility room for laundry inside the home
• Laundry & utility: Washer and dryer included; Laundry in utility room inside the home

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $215k.

Deal economics

• At list price, monthly cash flow is $256 ($3k/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 $206k (4.3% below list).
• Recommended offer: $206k (4.3% below list) — sets the bar for 1% rule.
• Cap rate 7.7% vs local median 3.3% 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: Wolf Meadow Elementary (math 27% / reading 28%, grade F, #1,028 of 1,410 statewide, top 73%, 494 students, 99% FRL); West Cabarrus High (math 45% / reading 49%, grade D-, #334 of 535 statewide, top 64%, 1,833 students, 59% FRL) — zoned schools average 79% FRL vs 36% district-wide (43 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 37% at this address vs 54% district-wide (-17 pts) — the specific schools serving this property underperform the Cabarrus County Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.2%/yr); 522 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $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 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $95k; list at $215k implies a 126% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 22% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $205,694 (4.3% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 0.96% ✗
• Cap rate: 7.72%
• Cash-on-cash: 5.10%
• DSCR: 1.23
• GRM: 8.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -11.6%
• Equity multiple: 0.59×
• Total profit: $-24,596
• Equity at exit: $32,042

10-year hold

• IRR: -7.2%
• Equity multiple: 0.60×
• Total profit: $-23,896
• Equity at exit: $18,581

Cash invested: $60,172 (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 28027

• Rents YoY: -0.2%
• Active inventory: 522
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $2,057 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$153 /mo · $1,832/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$432
• Net cashflow: $256

Break-even live

Break-even rent $1,733

Max offer price $214,900

Occupancy floor 83%

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: $53,725
• Closing costs: $6,447
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3057 Fountainview Ave Concord, NC	3.0	2.0	1629	$2,495	$1.53	5d	1	0.27mi
4400 Concord Pointe Ln SW Concord, NC	2.0–4.0	2.0	1108	$1,602	$1.45	23d	23	0.30mi
51 Tala Dr SW Concord, NC	2.0–3.0	2.0	1143	$1,976	$1.73	1d	8	0.44mi
3651 Stonefield St SW Concord, NC	4.0	3.0	1730	$2,199	$1.27	2d	1	0.75mi
3664 Stonefield St SW Concord, NC	3.0	2.5	1472	$1,860	$1.26	3d	1	0.82mi
4688 Falcon Chase Dr SW Concord, NC	3.0	2.0	1100	$1,939	$1.76	14d	1	1.32mi
4685 Falcon Chase Dr SW Concord, NC	3.0	2.0	1156	$1,805	$1.56	21d	1	1.35mi
4980 Wheat Dr SW Concord, NC	3.0	2.0	1207	$1,970	$1.63	5d	1	1.38mi
5020 Wheat Dr SW Concord, NC	3.0	2.0	1277	$1,795	$1.41	23d	1	1.42mi

Listing history 7 events

1. 2026-05-05
   status Pending
2. 2026-05-04
   price $214,900
3. 2026-05-01
   status Active
4. 2026-04-25
   status Pending
5. 2026-04-23
   listed $229,900 Active
6. 2006-09-18
   soldstatus $95,000
7. 1997-12-01
   soldstatus $25,000

ⓘ 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: $1,832 · $153/mo
• Projected year-2 tax: $1,832 · $153/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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 22% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,683
• − Mortgage interest: −$12,038
• − Property taxes: −$1,832
• − Insurance: −$1,074
• − Repairs & maintenance: −$1,975
• − Management: −$1,975
• − Depreciation: −$6,252
• Taxable loss: −$462
• Est. tax savings @ 24.0%: +$111
• After-tax cash flow: $3,181/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: 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

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 · 218,793 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: 1909.0

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 0.66)
• 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%

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

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

+759.6% since first listed

7 events — show timeline

• 2026-05-05 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-05-04 Price Changed $214,900 CANOPYMLS as Distributed by MLS Grid
• 2026-05-01 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2026-04-25 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-04-23 Listed $229,900 CANOPYMLS as Distributed by MLS Grid
• 2006-09-18 Sold (Public Records) $95,000 Public Records
• 1997-12-01 Sold (Public Records) $25,000 Public Records

Property tax history

+3.9%/yr

Latest (2025): $1,832 · +0.0% YoY. Source: county tax records.