1362 Poplar Glen Dr · Kannapolis, NC 28083

$245,000

3 bd · 2.0 ba · 1,490 sqft · Manufactured public records · 14 Days on market

Built 2001 10,018 sqft lot

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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).

• Cash flow +14.8/30.0
• ARV discount +7.5/15.0
• DSCR +4.5/10.0
• Livability +3.2/5.0
• 1% rule +3.1/10.0
• Rent growth +3.0/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Just updated and move in ready 3 bedroom, 2 bath home in great Kannapolis location. Quiet, private street conveniently located near I-85. Great floor plan! Features include quartz countertops in kitchen and bathrooms, new vinyl plank floors (no carpet), and fresh paint throughout. Primary bath includes a separate tub, walk in shower and double sinks. Large walk-in closet in the primary bedroom. There is a front porch, plus a covered deck for grilling out and relaxing. HVAC and water heater were replaced within the last 4-5 years and there is a brand new roof!

Key facts

• 0.23 acre lot
• Built 2001
• Listed 14 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $245k.

Deal economics

• At list price, monthly cash flow is $69 ($825/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 $199k (18.6% below list).
• Recommended offer: $199k (18.6% 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: Jackson Park Elementary (math 50% / reading 41%, grade D-, #562 of 1,410 statewide, top 40%, 416 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 (+2.1%/yr); 144 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 592 units permitted in Rowan County in 2024 (5 in 5+ unit buildings).
• This rent runs 36% of the median local income ($66k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

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 $199,397 (18.6% 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. 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?
3. 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?
4. 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.
5. 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.
6. 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: 0.81% ✗
• Cap rate: 6.63%
• Cash-on-cash: 1.20%
• DSCR: 1.05
• GRM: 10.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.15% rent growth · sell at horizon

5-year hold

• IRR: -15.3%
• Equity multiple: 0.46×
• Total profit: $-37,095
• Equity at exit: $36,530

10-year hold

• IRR: -8.2%
• Equity multiple: 0.51×
• Total profit: $-33,825
• Equity at exit: $21,183

Cash invested: $68,600 (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 28083

• Rents YoY: 2.1%
• Active inventory: 144
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,994 high
• Mortgage (P&I): −$1,285
• Tax from tax record: −$120 /mo · $1,435/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $69

Break-even live

Break-even rent $1,907

Max offer price $245,000

Occupancy floor 92%

Sensitivity live

Price	-10% $207	-5% $138	+0% $69	+5% $-1	+10% $-70
Rent	-10% $-89	-5% $-10	+0% $69	+5% $148	+10% $226
Rate	-1.0pp $192	-0.5pp $131	base $69	+0.5pp $5	+1.0pp $-59

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2220 Moose Rd Kannapolis, NC	3.0	2.5	1864	$2,290	$1.23	12d	1	0.65mi
1855 Lane St Kannapolis, NC	3.0	2.0	1430	$1,895	$1.33	23d	1	0.74mi
1024 E 10th St Kannapolis, NC	3.0	1.5	1030	$1,595	$1.55	6d	1	0.79mi
1614 Barbara Ann Cir Kannapolis, NC	3.0	2.0	1509	$1,899	$1.26	18d	1	1.18mi
614 Forest Ridge Rd Kannapolis, NC	3.0	2.0	1483	$2,085	$1.41	0d	1	1.22mi
2031 Samantha Dr Kannapolis, NC	3.0	2.0	1300	$1,725	$1.33	12d	1	1.23mi
500 Jackson Park Rd Unit 12 Kannapolis, NC	2.0	1.5	925	$1,305	$1.41	16d	1	1.29mi
368 W 18th St Kannapolis, NC	3.0	2.0	1399	$1,995	$1.43	6d	1	1.37mi

Listing history 7 events

1. 2026-04-22
   status Pending
2. 2026-04-09
   listed $245,000 Active
3. 2026-03-19
   historical $245,000
4. 2023-05-11
   soldstatus $222,000
5. 2023-05-10
   soldstatus $222,000 Closed 567-char remark

   Show marketing remark (567 chars)

   Just updated and move in ready 3 bedroom, 2 bath home in great Kannapolis location. Quiet, private street conveniently located near I-85. Great floor plan! Features include quartz countertops in kitchen and bathrooms, new vinyl plank floors (no carpet), and fresh paint throughout. Primary bath includes a separate tub, walk in shower and double sinks. Large walk-in closet in the primary bedroom. There is a front porch, plus a covered deck for grilling out and relaxing. HVAC and water heater were replaced within the last 4-5 years and there is a brand new roof!

6. 2023-02-21
   historical Active Under Contract 567-char remark

   Show marketing remark (567 chars)

   Just updated and move in ready 3 bedroom, 2 bath home in great Kannapolis location. Quiet, private street conveniently located near I-85. Great floor plan! Features include quartz countertops in kitchen and bathrooms, new vinyl plank floors (no carpet), and fresh paint throughout. Primary bath includes a separate tub, walk in shower and double sinks. Large walk-in closet in the primary bedroom. There is a front porch, plus a covered deck for grilling out and relaxing. HVAC and water heater were replaced within the last 4-5 years and there is a brand new roof!

7. 2023-02-14
   listed $235,000 Active 567-char remark

   Show marketing remark (567 chars)

   Just updated and move in ready 3 bedroom, 2 bath home in great Kannapolis location. Quiet, private street conveniently located near I-85. Great floor plan! Features include quartz countertops in kitchen and bathrooms, new vinyl plank floors (no carpet), and fresh paint throughout. Primary bath includes a separate tub, walk in shower and double sinks. Large walk-in closet in the primary bedroom. There is a front porch, plus a covered deck for grilling out and relaxing. HVAC and water heater were replaced within the last 4-5 years and there is a brand new roof!

ⓘ 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: $1,435 · $120/mo
• Projected year-2 tax: $2,009 · $167/mo
• Expected delta: +$574/yr (+$48/mo · 40.0%)

ⓘ 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 16% 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: $23,928
• − Mortgage interest: −$13,724
• − Property taxes: −$1,435
• − Insurance: −$1,225
• − Repairs & maintenance: −$1,914
• − Management: −$1,914
• − Depreciation: −$7,127
• Taxable loss: −$3,412
• Est. tax savings @ 24.0%: +$819
• After-tax cash flow: $1,644/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): 28,095
• Household income: $66,257
• Rent vs Own: 35.6% rent · 64.4% own
• Severe rent burden: 633.0

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 55% Black 25% Hispanic / Latino 16% Two or more races 5% Asian 1%
• Hispanic origin (detail): Mexican 11% Puerto Rican 3%
• Common ancestry: Slovak 2% Serbian 1% Lithuanian 1%
• Foreign-born: 8% · Canada
• Languages at home: 85% English-only · Spanish 13% Tagalog/Filipino 1% Other Indo-European 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: ▼ -318.30%
• Current HPI: 307.0675
• Rent YoY: ▲ 2.15%
• 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

+4.3% since first listed

7 events — show timeline

• 2026-04-22 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-04-09 Listed $245,000 CANOPYMLS as Distributed by MLS Grid
• 2026-03-19 Coming Soon $245,000 CANOPYMLS as Distributed by MLS Grid
• 2023-05-11 Sold (Public Records) $222,000 Public Records
• 2023-05-10 Sold (MLS) $222,000 CANOPYMLS as Distributed by MLS Grid
• 2023-02-21 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2023-02-14 Listed $235,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+2.8%/yr

Latest (2025): $1,435 · +0.0% YoY. Source: county tax records.