2900 Irish Potato Rd · Concord, NC 28025

$130,000

3 bd · 2.0 ba · 1,100 sqft · SingleFamily · 7 Days on market

Built 1995 1.01 ac 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
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• ARV discount +7.5/15.0
• 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

Great opportunity on this 1.01-acre parcel with road frontage and a 1995 mobile home featuring covered parking/carport and additional outdoor space. Property offers a peaceful country setting with convenient access to Concord, Kannapolis, and surrounding areas. Ideal for investors, rental potential, primary residence, or someone looking for affordable land ownership with room for storage, gardening, or outdoor living. Property being sold as-is.

Key facts

• 1.01 acre lot
• Parking
• Built 1995

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Detached carport; 1 covered parking space; No main-level garage
• Utilities: Private well water; Septic system installed
• Home design: Manufactured single-family residence; One level; Crawl space foundation
• Construction: Built with asbestos and wood materials
• Exterior features: Property includes storage; Road surfaces include dirt, gravel and paved; Publicly maintained road access

Interior

• Kitchen: No appliances listed
• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Heating: Other (see remarks); Cooling: Other (see remarks)
• Interior features: 2 total rooms; Storage space
• Laundry & utility: Laundry located on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $654 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Cap rate 12.3% 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; 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 $899 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.
• At projected returns (-3.0% appreciation + 3.2% rent growth), your $36k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• 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 $130,000

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: 1.38% ✓
• Cap rate: 12.33%
• Cash-on-cash: 21.55%
• DSCR: 1.96
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $260,700
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2120 Irish Potato Rd	0.68mi	3/1.5	1,224 (+11%)	1mo	$290,000	$237	46

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: 14.3%
• Equity multiple: 1.58×
• Total profit: $20,939
• Equity at exit: $19,383

10-year hold

• IRR: 23.2%
• Equity multiple: 3.02×
• Total profit: $73,349
• Equity at exit: $11,240

Cash invested: $36,400 (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: 6.0×

Monthly cashflow live

• Estimated rent: $1,796 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$29 /mo · $349/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $654

Break-even live

Break-even rent $968

Max offer price $130,000

Occupancy floor 59%

Sensitivity live

Price	-10% $727	-5% $691	+0% $654	+5% $617	+10% $580
Rent	-10% $512	-5% $583	+0% $654	+5% $725	+10% $796
Rate	-1.0pp $719	-0.5pp $687	base $654	+0.5pp $620	+1.0pp $586

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-18
   days on market $130,000 Active 7 DOM
2. 2026-06-17
   days on market $130,000 Active 6 DOM
3. 2026-06-16
   days on market $130,000 Active 5 DOM
4. 2026-06-15
   days on market $130,000 Active 4 DOM
5. 2026-06-13
   statusdays on market $130,000 Active 2 DOM
6. 2026-06-09
   days on market $130,000 Coming Soon 12 DOM
7. 2026-06-08
   days on market $130,000 Coming Soon 11 DOM
8. 2026-06-07
   days on market $130,000 Coming Soon 10 DOM
9. 2026-06-04
   days on market $130,000 Coming Soon 7 DOM
10. 2026-06-03
    days on market $130,000 Coming Soon 6 DOM
11. 2026-06-02
    days on market $130,000 Coming Soon 5 DOM
12. 2026-06-01
    days on market $130,000 Coming Soon 4 DOM
13. 2026-05-31
    days on market $130,000 Coming Soon 3 DOM
14. 2026-05-28
    historical $130,000

ⓘ 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: $349 · $29/mo
• Projected year-2 tax: $1,066 · $89/mo
• Expected delta: +$717/yr (+$60/mo · 205.2%)

ⓘ 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 4/10 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 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,552
• − Mortgage interest: −$7,282
• − Property taxes: −$349
• − Insurance: −$650
• − Repairs & maintenance: −$1,724
• − Management: −$1,724
• − Depreciation: −$3,782
• Taxable income: $6,041
• Est. tax owed @ 24.0%: −$1,450
• After-tax cash flow: $6,396/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

• 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

1 event — show timeline

• 2026-05-28 Coming Soon $130,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+2.7%/yr

Latest (2025): $349 · +0.0% YoY. Source: county tax records.