1205 Oakwood Ave · Kannapolis, NC 28081

$147,000

2 bd · 1.0 ba · 896 sqft · SingleFamily public records · 3 Days on market

Built 1945 0.26 ac lot Est $187k · 22% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +14.5/30.0
• DSCR +4.4/10.0
• 1% rule +3.6/10.0
• 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

Great investment property, single family residence w/ two attached garage bays in Shady Brook in Kannapolis. Smart use of space on 2nd level providing spacious kitchen, 2 bedrooms and 1 bathroom. Tenant currently living in 2nd level space. 2 attached garage bays are unfinished, ground floor. Reach out to listing agent Justin Porter for questions and showings. * * Vacant Lot beside property is also listed for sale - 1203 Oakwood Ave.

Key facts

• 0.26 acre lot
• 2 garage spots
• Built 1945

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Attached garage facing front; 2-car garage; Main level garage
• Utilities: City water; Public sewer
• Home design: Single family residence; Residential property; Two levels; Entry level: Upper (living area located on upper level); Zoned R-4
• Construction: Site-built construction; Block exterior; Slab foundation
• Exterior features: Gravel and concrete road access; Publicly maintained road

Interior

• Kitchen: Electric oven
• Bedrooms: 2 bedrooms (both on the upper level)
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: 6 total rooms; Electric oven
• Laundry & utility: Laundry in a common area

🏷️ Possibly a rental listed for sale. The $147,000 price doesn't fit this home's estimated sale value (~$187,264) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $147k.

Deal economics

• At list price, monthly cash flow is $33 ($394/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 $127k (13.7% below list).
• Recommended offer: $127k (13.7% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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: Shady Brook Elementary (math 17% / reading 32%, grade F, #1,112 of 1,410 statewide, top 82%, 295 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 (+2.5%/yr); 226 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $4k 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 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1945 — 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 $126,924 (13.7% below list)

Questions for the listing agent

1. Built in 1945 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.86% ✗
• Cap rate: 6.56%
• Cash-on-cash: 0.96%
• DSCR: 1.04
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $187,264
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1216 Innis Ave	0.29mi	2/2.0	900 (+0%)	12mo	$223,712	$249	72
825 Margate Ave	0.56mi	2/1.0	860 (-4%)	0mo	$204,000	$237	67
808 Walker St	0.21mi	2/1.0	794 (-11%)	6mo	$100,000	$126	67
1220 Milton Ave	0.37mi	2/1.0	1,004 (+12%)	6mo	$255,000	$254	57
1312 Dogwood Ave	0.24mi	2/1.0	1,030 (+15%)	10mo	$226,000	$219	56
1406 Todd Ave	0.50mi	1/2.0 (-1)	892 (-0%)	18mo	$85,000	$95	52
806 Margate Ave	0.59mi	2/1.0	986 (+10%)	6mo	$135,000	$137	51
1404 Todd Ave	0.50mi	2/1.0	839 (-6%)	18mo	$175,000	$209	51
1401 Power St	0.47mi	2/1.0	828 (-8%)	18mo	$170,000	$205	50
602 Walker St	0.24mi	2/1.0	1,026 (+14%)	18mo	$200,000	$195	50
830 Richard Ave	0.43mi	2/1.0	785 (-12%)	12mo	$165,000	$210	49
1105 Horton Ave	0.69mi	3/1.0 (+1)	928 (+4%)	12mo	$113,500	$122	47

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: -15.3%
• Equity multiple: 0.46×
• Total profit: $-22,374
• Equity at exit: $21,918

10-year hold

• IRR: -7.6%
• Equity multiple: 0.53×
• Total profit: $-19,410
• Equity at exit: $12,710

Cash invested: $41,160 (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: 226
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,269 high
• Mortgage (P&I): −$771
• Tax from tax record: −$138 /mo · $1,653/yr
• Insurance: −$61
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $33

Break-even live

Break-even rent $1,228

Max offer price $147,000

Occupancy floor 92%

Sensitivity live

Price	-10% $116	-5% $74	+0% $33	+5% $-9	+10% $-50
Rent	-10% $-67	-5% $-17	+0% $33	+5% $83	+10% $133
Rate	-1.0pp $107	-0.5pp $70	base $33	+0.5pp $-5	+1.0pp $-44

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: $36,750
• Closing costs: $4,410
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1300 Oakwood Ave Unit 827 Kannapolis, NC	2.0	1.5	832	$1,100	$1.32	25d	1	0.19mi
1300 Oakwood Ave Unit 801 Kannapolis, NC	1.0	1.0	615	$1,000	$1.63	0d	1	0.19mi
1300 Oakwood Ave Unit 861 Oakwood Villa Kannapolis, NC	1.0	1.0	615	$1,050	$1.71	0d	1	0.19mi
839 Robinhood Ln Unit 10 Kannapolis, NC	2.0	1.0	700	$1,050	$1.50	4d	1	0.30mi
1448 Nottingham Rd Kannapolis, NC	2.0	1.0	900	$1,250	$1.39	25d	1	0.60mi
1450 Nottingham Rd Kannapolis, NC	2.0	1.0	900	$1,250	$1.39	6d	1	0.60mi
1450 Nottingham Rd Kannapolis, NC	2.0	1.0	900	$1,250	$1.39	25d	1	0.60mi
804 Klondale Ave Kannapolis, NC	2.0	1.0	996	$1,295	$1.30	19d	1	0.61mi
701 Rain Place Ct Kannapolis, NC	2.0	1.0	800	$1,290	$1.61	6d	2	0.80mi
515 Broad St Kannapolis, NC	2.0	1.0	800	$1,250	$1.56	25d	1	0.89mi
310 Pineview St Unit NA Kannapolis, NC	2.0	1.0	813	$1,650	$2.03	19d	1	0.93mi
310 Pineview St Kannapolis, NC	2.0	1.0	813	$1,599	$1.97	12d	1	0.93mi
111 Briarcliff Dr Kannapolis, NC	2.0	1.0	800	$1,000	$1.25	0d	1	1.24mi
303 York Ave Kannapolis, NC	1.0	1.0	829	$1,295	$1.56	3d	1	1.28mi
121 Briarcliff Dr Kannapolis, NC	2.0	1.0	800	$950	$1.19	25d	1	1.28mi
2202 S Main St Kannapolis, NC	2.0	1.0	800	$950	$1.19	0d	1	1.30mi
2208 S Main St Kannapolis, NC	2.0	1.0	800	$975	$1.22	0d	1	1.30mi
531 Park St Kannapolis, NC	2.0	1.5	1050	$1,235	$1.18	25d	1	1.31mi
530 Walter St Kannapolis, NC	2.0	1.5	1050	$1,350	$1.29	25d	1	1.34mi
528 Walter St Kannapolis, NC	2.0	1.5	1050	$1,350	$1.29	25d	1	1.34mi
210 S Main St Kannapolis, NC	3.0	1.0–2.0	914	$2,203	$2.41	0d	21	1.43mi
200 S Main St Kannapolis, NC	2.0	1.0–2.0	880	$2,495	$2.84	0d	84	1.49mi

Listing history 6 events

1. 2026-06-10
   status $147,000 Pending 3 DOM
2. 2026-06-09
   days on market $147,000 Active 3 DOM
3. 2026-06-08
   days on market $147,000 Active 2 DOM
4. 2026-06-08
   remarks 437-char remark
5. 2026-06-07
   remarks 413-char remark
6. 2026-06-07
   listed $147,000 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: $1,653 · $138/mo
• Projected year-2 tax: $1,653 · $138/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 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: $15,231
• − Mortgage interest: −$8,234
• − Property taxes: −$1,653
• − Insurance: −$735
• − Repairs & maintenance: −$1,218
• − Management: −$1,218
• − Depreciation: −$4,276
• Taxable loss: −$2,105
• Est. tax savings @ 24.0%: +$505
• After-tax cash flow: $899/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): 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

-70.6% since first listed

2 events — show timeline

• 2026-06-06 Listed $147,000 CANOPYMLS as Distributed by MLS Grid
• 2017-02-10 Sold (Public Records) $500,000 Public Records

Property tax history

+3.7%/yr

Latest (2025): $1,653 · +0.0% YoY. Source: county tax records.