262 Elm Ave NW · Concord, NC 28025

$169,000

3 bd · 1.0 ba · 1,363 sqft · SingleFamily public records · 118 Days on market

Built 1916 7,187 sqft lot Est $277k · 39% under

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Why this score? — see what drove the B 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 +26.6/30.0
• ARV discount +15.0/15.0
• DSCR +9.1/10.0
• 1% rule +6.4/10.0
• Schools +4.7/10.0
• Livability +4.0/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor opportunity in the heart of Concord! This 3-bedroom, 1-bath home offers immediate income potential with a tenant currently in place on a month-to-month lease, providing flexibility for the next owner. Whether you’re looking to expand your rental portfolio, secure your first investment property, or purchase with future plans in mind, this property presents a solid opportunity. With month-to-month tenancy, investors have the option to continue renting for steady cash flow or explore value-add improvements to maximize returns. Please note: the AC is currently not working, offering an additional opportunity for upgrades and increased value.

Key facts

• 7,187 sq ft lot
• Built 1916
• Listed 118 days

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway (no main-level garage)
• Utilities: City water; Public sewer
• Home design: Single-family residential property; One-story home; Residential zoning (RC)
• Construction: Site-built construction; Construction materials: other (see remarks); Crawl space foundation; Built as a one-level structure
• Exterior features: Roads are concrete and paved; Publicly maintained road

Interior

• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: 5 total rooms; Other appliances (see remarks)
• Laundry & utility: Laundry features: other (see remarks)

🏷️ Possibly a rental listed for sale. The $169,000 price doesn't fit this home's estimated sale value (~$276,689) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $169k.

Deal economics

• At list price, monthly cash flow is $454 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $169k).
• Recommended offer: $154k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.5% 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: schools C-, 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.
• Market conditions: Rents rising (+3.2%/yr); 303 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals leasing fast (median 13d 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 $5k 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.
• At projected returns (-3.0% appreciation + 3.2% rent growth), your $47k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 118 days — a 9% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $140k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1916 — 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 $153,790 (9.0% below list)

Questions for the listing agent

1. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1916 — 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. 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: 1.14% ✓
• Cap rate: 9.52%
• Cash-on-cash: 11.52%
• DSCR: 1.51
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $276,689
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
293 Misenheimer Dr NW #42	0.31mi	3/2.0	1,308 (-4%)	9mo	$287,000	$219	68
269 Misenheimer Dr NW	0.30mi	3/2.0	1,234 (-10%)	1mo	$283,000	$229	66
353 Ann St NW	0.28mi	2/2.0 (-1)	1,464 (+7%)	3mo	$289,000	$197	63
150 Cedar Dr NW	0.34mi	3/2.0	1,200 (-12%)	1mo	$275,000	$229	59
52 Fenix Dr SW	0.69mi	3/2.0	1,355 (-1%)	4mo	$207,000	$153	59
90 Sumner Ave NW	0.56mi	3/2.0	1,500 (+10%)	2mo	$341,500	$228	51
250 Franklin Ave NW	0.37mi	4/2.0 (+1)	1,527 (+12%)	4mo	$260,000	$170	51
41 Saint Mary Ave NW	0.62mi	3/2.0	1,196 (-12%)	0mo	$230,000	$192	46
63 Brookwood Ave NW	0.68mi	3/1.0	1,529 (+12%)	6mo	$255,000	$167	42
304 Cabarrus Ave W	0.63mi	3/3.0	1,476 (+8%)	9mo	$299,000	$203	41
78 Sumner Ave NW	0.64mi	3/2.0	1,210 (-11%)	9mo	$295,000	$244	40
47 Douglas Ave NW	0.67mi	2/2.5 (-1)	1,196 (-12%)	9mo	$235,000	$196	30

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 · 3.23% rent growth · sell at horizon

5-year hold

• IRR: 1.1%
• Equity multiple: 1.04×
• Total profit: $1,962
• Equity at exit: $25,198

10-year hold

• IRR: 10.9%
• Equity multiple: 1.86×
• Total profit: $40,682
• Equity at exit: $14,612

Cash invested: $47,320 (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 28025

• Rents YoY: 3.2%
• Active inventory: 303
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,930 high
• Mortgage (P&I): −$886
• Tax from tax record: −$114 /mo · $1,366/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$405
• Net cashflow: $454

Break-even live

Break-even rent $1,355

Max offer price $169,000

Occupancy floor 71%

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
100 Ash Ave NW Concord, NC	3.0	2.0	1170	$1,845	$1.58	5d	1	0.47mi
435 Central Dr NW Concord, NC	4.0	2.0	1252	$1,850	$1.48	17d	1	0.58mi
195 Vee Ave SW Concord, NC	4.0	3.5	1867	$2,250	$1.21	24d	1	0.61mi
1 Buffalo Ave NW Concord, NC	2.0–3.0	1.5–2.0	1179	$1,500	$1.27	10d	6	0.66mi
204 Corban Ave SW Concord, NC	3.0	2.0	1487	$1,600	$1.08	1d	1	0.72mi
13 Douglas Ave NW Concord, NC	2.0	1.0	980	$1,650	$1.68	24d	1	0.76mi
393 Church St N Unit 1 Concord, NC	3.0	3.0	1370	$1,950	$1.42	24d	1	0.77mi
283 Houston St NE Concord, NC	3.0	2.0	1176	$1,702	$1.45	17d	1	0.83mi
23 Market St SW Concord, NC	2.0	1.0–2.0	940	$2,470	$2.63	10d	118	0.83mi
6 Meadowview Ave SW Concord, NC	3.0	2.0	1176	$1,750	$1.49	12d	1	0.93mi
641 Central Dr NW Concord, NC	3.0	2.0	1601	$2,295	$1.43	24d	1	0.94mi
83 American Ave NE Unit 83 Concord, NC	3.0	2.0	1150	$1,350	$1.17	24d	1	0.95mi
337 Pecan Ct SW Concord, NC	3.0	2.0	1254	$1,610	$1.28	12d	1	0.97mi
145 McKinnon Ave NE Concord, NC	4.0	2.0	1536	$1,775	$1.16	5d	1	0.99mi
25 Todd Dr NE Concord, NC	2.0	2.0	936	$1,650	$1.76	24d	1	1.00mi
116 Cabarrus Ave E Concord, NC	3.0	1.0	1495	$2,300	$1.54	4d	1	1.05mi
538 Hillandale St NE Concord, NC	2.0	1.0	915	$1,350	$1.48	5d	1	1.14mi
335 Cliffwood St NW Unit E Concord, NC	3.0	2.5	1338	$1,850	$1.38	24d	1	1.15mi
228 Tournament Dr SW Concord, NC	3.0	2.0	1161	$1,650	$1.42	20d	1	1.17mi
71 Woodsdale Pl SE Concord, NC	3.0	2.5	1315	$1,900	$1.44	5d	1	1.17mi
260 Brookwood Ave NE Unit 1E Concord, NC	2.0	1.5	940	$1,350	$1.44	12d	1	1.26mi
219 Green Dr SW Concord, NC	3.0	2.0	1278	$1,900	$1.49	5d	1	1.39mi
219 Green Dr SW Concord, NC	3.0	2.0	1278	$1,900	$1.49	3d	1	1.39mi

Listing history 21 events

1. 2026-06-18
   days on market $169,000 Active 118 DOM
2. 2026-06-17
   days on market $169,000 Active 117 DOM
3. 2026-06-16
   days on market $169,000 Active 116 DOM
4. 2026-06-15
   days on market $169,000 Active 115 DOM
5. 2026-06-13
   days on market $169,000 Active 113 DOM
6. 2026-06-09
   days on market $169,000 Active 109 DOM
7. 2026-06-08
   days on market $169,000 Active 108 DOM
8. 2026-06-07
   days on market $169,000 Active 107 DOM
9. 2026-06-04
   days on market $169,000 Active 104 DOM
10. 2026-06-03
    days on market $169,000 Active 103 DOM
11. 2026-06-02
    days on market $169,000 Active 102 DOM
12. 2026-06-01
    days on market $169,000 Active 101 DOM
13. 2026-05-31
    days on market $169,000 Active 100 DOM
14. 2026-04-30
    price $169,000
15. 2026-03-30
    price $185,000
16. 2026-02-20
    listed $200,000 Active
17. 2023-11-27
    soldstatus $140,000
18. 2021-05-03
    soldstatus $120,000
19. 2006-08-01
    soldstatus $58,000
20. 2002-07-29
    soldstatus $580,000
21. 1993-05-01
    soldstatus $32,500

ⓘ 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: $1,366 · $114/mo
• Projected year-2 tax: $1,386 · $115/mo
• Expected delta: +$20/yr (+$2/mo · 1.4%)

ⓘ 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 6/10 Major 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 20% 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: $23,161
• − Mortgage interest: −$9,467
• − Property taxes: −$1,366
• − Insurance: −$845
• − Repairs & maintenance: −$1,853
• − Management: −$1,853
• − Depreciation: −$4,916
• Taxable income: $2,861
• Est. tax owed @ 24.0%: −$687
• After-tax cash flow: $4,764/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): 58,334
• Household income: $79,545
• Rent vs Own: 30.9% rent · 69.1% own
• Severe rent burden: 1852.0

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 0.57)
• Race & ethnicity: White 61% Black 21% Hispanic / Latino 13% Two or more races 8% Asian 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Serbian 2% Italian 2% Slovak 1%
• Foreign-born: 7% · Canada
• Languages at home: 89% English-only · Spanish 9%

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: ▼ -282.07%
• Current HPI: 258.1615
• Rent YoY: ▲ 3.23%
• 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

+420.0% since first listed

8 events — show timeline

• 2026-04-30 Price Changed $169,000 CANOPYMLS as Distributed by MLS Grid
• 2026-03-30 Price Changed $185,000 CANOPYMLS as Distributed by MLS Grid
• 2026-02-20 Listed $200,000 CANOPYMLS as Distributed by MLS Grid
• 2023-11-27 Sold (Public Records) $140,000 Public Records
• 2021-05-03 Sold (Public Records) $120,000 Public Records
• 2006-08-01 Sold (Public Records) $58,000 Public Records
• 2002-07-29 Sold (Public Records) $580,000 Public Records
• 1993-05-01 Sold (Public Records) $32,500 Public Records

Property tax history

+5.8%/yr

Latest (2025): $1,366 · +0.0% YoY. Source: county tax records.