1530 Buffalo St · Enochville, NC 28081

$84,999

2 bd · 1.0 ba · 882 sqft · SingleFamily public records · 284 Days on market

Built 1952 8,712 sqft lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +3.1/5.0
• Livability +3.0/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

* * * CURRENT BID IS $75,000, FILE NO. 25SP000231-790, UPSET BID PERIOD ENDS 6/22 AT 4:30 * * * This 2 bedroom, 1 bath home in growing Kannapolis is full of potential and priced well-an excellent opportunity for investors or handy homeowners to build equity fast. Situated on a corner lot outside the city limits, this home has hardwood floors that would gleam again with some TLC. The home also features a spacious kitchen, unfinished add on, and a charming front covered porch-perfect for your favorite rocking chairs. Outside, you'll find multiple storage sheds and a detached garage. Please note that this is a judicial sale. If you're unfamiliar with the process, your agent will be happy

Key facts

• Front covered porch
• Spacious kitchen
• Corner lot

Tags

• CORNER LOT
• HARDWOOD FLOORS
• SPACIOUS KITCHEN
• FRONT COVERED PORCH
• MULTIPLE STORAGE SHEDS
• DETACHED GARAGE

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Detached 1-car garage; Driveway
• Utilities: City water; Septic installed; Electricity connected
• Home design: Single-family residence; One story; Site built; RM2 zoning
• Construction: Vinyl exterior; Crawl space foundation; Shallow building footprint (one level)
• Exterior features: Covered front and rear porches; Corner lot; Roads are gravel and paved; publicly maintained

Interior

• Kitchen: Electric oven; Electric range; Refrigerator
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Vinyl flooring; Wood flooring
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Baseboard heating; Window AC unit(s)
• Interior features: Two or more access exits; Room count: 1
• Laundry & utility: Washer; Dryer; Laundry located in the kitchen

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $707 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.3% vs local median 3.0% in Enochville — 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 60/100 on livability (#506 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: schools F, amenities F, commute F.
• Rowan-Salisbury Schools (rural): math 26% / reading 35% proficiency, ranked #142 of 178 in NC (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.5%/yr); 225 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $587 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 2.5% rent growth), your $24k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 284 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $55k; list at $85k implies a 55% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1952 — 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 $74,799 (12.0% below list)

Questions for the listing agent

1. It's been on market 284 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1952 — 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. 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.
7. 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.
8. 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: 1.84% ✓
• Cap rate: 16.27%
• Cash-on-cash: 35.64%
• DSCR: 2.59
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $201,096
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
131 Westover Ave	0.36mi	2/1.0	867 (-2%)	18mo	$198,000	$228	65
112 Mccray Ave	0.56mi	2/1.0	850 (-4%)	12mo	$244,900	$288	58
1114 Mountain St	0.72mi	2/1.0	908 (+3%)	10mo	$245,000	$270	53
116 Dexter Ave	0.45mi	2/1.0	925 (+5%)	22mo	$215,000	$232	52
108 Franklin Ave	0.41mi	2/1.0	971 (+10%)	14mo	$145,000	$149	52
300 Gurley St	0.70mi	2/1.0	950 (+8%)	10mo	$155,000	$163	46
1407 Birch St	0.74mi	2/1.0	832 (-6%)	12mo	$85,000	$102	46
1411 Due West St	0.48mi	3/1.0 (+1)	935 (+6%)	21mo	$208,000	$222	45
1006 Callie St	0.67mi	2/1.0	993 (+13%)	4mo	$225,000	$227	44
403 Westover Ave	0.75mi	2/1.0	852 (-3%)	22mo	$217,000	$255	41
211 Franklin Ave	0.66mi	1/1.0 (-1)	750 (-15%)	1mo	$172,000	$229	39
1814 W C St	0.47mi	1/1.0 (-1)	992 (+12%)	18mo	$85,000	$86	37

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: 30.7%
• Equity multiple: 2.28×
• Total profit: $30,453
• Equity at exit: $12,674

10-year hold

• IRR: 37.7%
• Equity multiple: 4.41×
• Total profit: $81,260
• Equity at exit: $7,349

Cash invested: $23,800 (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 28081

• Rents YoY: 2.5%
• Active inventory: 225
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,568 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$51 /mo · $609/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$329
• Net cashflow: $707

Break-even live

Break-even rent $673

Max offer price $84,999

Occupancy floor 50%

Sensitivity live

Price	-10% $755	-5% $731	+0% $707	+5% $683	+10% $659
Rent	-10% $583	-5% $645	+0% $707	+5% $769	+10% $831
Rate	-1.0pp $750	-0.5pp $729	base $707	+0.5pp $685	+1.0pp $662

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
200 Franklin Ave Unit 200 Kannapolis, NC	2.0	1.5	1024	$1,500	$1.46	21d	1	0.56mi
4301 Forestridge Ln Kannapolis, NC	1.0–2.0	1.0–2.0	797	$1,450	$1.82	25d	1	0.60mi
515 Broad St Kannapolis, NC	2.0	1.0	800	$1,250	$1.56	25d	1	1.42mi
210 S Main St Kannapolis, NC	3.0	1.0–2.0	914	$2,203	$2.41	2d	21	1.49mi

Listing history 16 events

1. 2026-06-21
   days on market $84,999 Active 284 DOM
2. 2026-06-18
   days on market $84,999 Active 281 DOM
3. 2026-06-17
   days on market $84,999 Active 280 DOM
4. 2026-06-16
   days on market $84,999 Active 279 DOM
5. 2026-06-15
   days on market $84,999 Active 278 DOM
6. 2026-06-13
   days on market $84,999 Active 276 DOM
7. 2026-06-10
   days on market $84,999 Active 272 DOM
8. 2026-06-08
   pricedays on market $84,999 Active 271 DOM
9. 2026-06-07
   days on market $99,000 Active 270 DOM
10. 2026-06-04
    days on market $99,000 Active 267 DOM
11. 2026-06-03
    days on market $99,000 Active 266 DOM
12. 2026-06-02
    days on market $99,000 Active 265 DOM
13. 2026-06-01
    days on market $99,000 Active 264 DOM
14. 2026-05-31
    days on market $99,000 Active 263 DOM
15. 2025-09-11
    listed $99,000 Active
16. 2011-05-26
    soldstatus $55,000

ⓘ 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: $609 · $51/mo
• Projected year-2 tax: $697 · $58/mo
• Expected delta: +$88/yr (+$7/mo · 14.4%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥104°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: $18,818
• − Mortgage interest: −$4,761
• − Property taxes: −$609
• − Insurance: −$425
• − Repairs & maintenance: −$1,505
• − Management: −$1,505
• − Depreciation: −$2,473
• Taxable income: $7,538
• Est. tax owed @ 24.0%: −$1,809
• After-tax cash flow: $6,673/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: Rowan-Salisbury Schools
• NCES district ID: 3704050
• Math proficiency: 26% ▲ 2.00%
• Reading proficiency: 35% ▲ 1.00%
• Median HH income: $43,953
• Composite: 26.01/100
• National rank: #7317
• State rank: #142 of 178 in NC

Livability — Enochville

• Score: 60/100
• State rank: #506
• US rank: #18525

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Enochville, NC
• County: Cabarrus County · 218,793 people
• 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

+80.0% since first listed

2 events — show timeline

• 2025-09-11 Listed $99,000 CANOPYMLS as Distributed by MLS Grid
• 2011-05-26 Sold (Public Records) $55,000 Public Records

Property tax history

+4.1%/yr

Latest (2025): $609 · +0.0% YoY. Source: county tax records.