6423 Town Hall Pl · Harrisburg, NC 28075

$235,000

3 bd · 2.0 ba · 1,225 sqft · Condo public records · 240 Days on market

Built 2002 $407/mo HOA · 16% of rent

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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 +15.1/30.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• Rent growth +4.7/5.0
• Schools +4.7/10.0
• DSCR +4.6/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great 3rd floor condo. Move in ready in fantastic Harrisburg Town Center. Walk to shops and dining. Split BR plan, primary bath with double sinks. Granite counter tops in kitchen, stainless appliances, modern fixtures. Minutes to 485. Close to Frank Liske park for nature lovers. Extra storage room on covered porch. Microwave on wall does not work, microwave on counter will remain

Key facts

• $407 HOA
• Built 2002
• Listed 239 days

Property features AI

Finance

• HOA & community: HOA managed by Cusick Management; Mandatory HOA dues; Monthly association fee of $339

Exterior

• Parking: Assigned parking
• Utilities: City water; Public sewer
• Home design: Residential condominium; Planned unit development (PUD); Single-story (one level)
• Construction: Site-built construction; Vinyl exterior; Slab foundation
• Exterior features: Balcony; Asphalt-paved road; publicly maintained

Interior

• Kitchen: Dishwasher; Electric cooktop; Electric oven; Microwave; Refrigerator
• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Heat pump heating; Central air conditioning; Ceiling fans
• Interior features: Eight total rooms; Entry on the 3rd level
• Laundry & utility: In-unit laundry (washer/dryer included)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $235k.

Deal economics

• At list price, monthly cash flow is $77 ($919/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $235k).
• Recommended offer: $207k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.7% vs local median 3.1% in Harrisburg — 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 79/100 on livability (#23 in NC, #2,104 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: cost of living 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.
• Zoned schools: Pitts School Road Elementary (math 56% / reading 52%, grade C, #328 of 1,410 statewide, top 24%, 844 students, 48% FRL); Jay M Robinson High (math 62% / reading 59%, grade C+, #210 of 535 statewide, top 40%, 1,080 students, 50% FRL).
• Market conditions: Rents rising fast (+9.0%/yr); 195 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 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 $2k of loan paydown is wiped out by about $7k 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 + 8.0% rent growth), your $66k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 240 days — a 12% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 8y ago; this cycle's ask has dropped $35k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 22% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $206,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 240 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.08% ✓
• Cap rate: 6.68%
• Cash-on-cash: 1.40%
• DSCR: 1.06
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -7.6%
• Equity multiple: 0.70×
• Total profit: $-19,581
• Equity at exit: $35,039

10-year hold

• IRR: 8.1%
• Equity multiple: 1.78×
• Total profit: $51,111
• Equity at exit: $20,319

Cash invested: $65,800 (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 28075

• Home prices YoY: -30.6%
• Rents YoY: 9.0%
• Active inventory: 195
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $2,535 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$189 /mo · $2,263/yr
• Insurance: −$98
• HOA: −$407
• Vacancy / Maint / Mgmt: −$532
• Net cashflow: $77

Break-even live

Break-even rent $2,438

Max offer price $235,000

Occupancy floor 92%

Sensitivity live

Price	-10% $210	-5% $143	+0% $77	+5% $10	+10% $-56
Rent	-10% $-124	-5% $-24	+0% $77	+5% $177	+10% $277
Rate	-1.0pp $195	-0.5pp $136	base $77	+0.5pp $16	+1.0pp $-46

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5020 Wheat Dr SW Concord, NC	3.0	2.0	1277	$1,795	$1.41	25d	1	1.45mi
4980 Wheat Dr SW Concord, NC	3.0	2.0	1207	$1,970	$1.63	6d	1	1.45mi

HOA detail condo

• Monthly dues: $407 · $4,884/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 35 events

1. 2026-06-21
   days on market $235,000 Active 240 DOM
2. 2026-06-18
   days on market $235,000 Active 237 DOM
3. 2026-06-17
   days on market $235,000 Active 236 DOM
4. 2026-06-16
   days on market $235,000 Active 235 DOM
5. 2026-06-15
   days on market $235,000 Active 234 DOM
6. 2026-06-13
   days on market $235,000 Active 232 DOM
7. 2026-06-09
   days on market $235,000 Active 228 DOM
8. 2026-06-08
   days on market $235,000 Active 227 DOM
9. 2026-06-07
   days on market $235,000 Active 226 DOM
10. 2026-06-04
    days on market $235,000 Active 223 DOM
11. 2026-06-03
    days on market $235,000 Active 222 DOM
12. 2026-06-02
    days on market $235,000 Active 221 DOM
13. 2026-06-01
    days on market $235,000 Active 220 DOM
14. 2026-05-31
    days on market $235,000 Active 219 DOM
15. 2026-05-07
    price $235,000
16. 2026-03-04
    status Active
17. 2026-03-04
    price $245,000
18. 2025-07-09
    price $260,000
19. 2025-04-03
    listed $270,000 Active
20. 2025-03-31
    historical $270,000
21. 2023-03-06
    soldstatus $225,000 Closed 391-char remark

    Show marketing remark (391 chars)

    Great 3rd floor condo. Move in ready in fantastic Harrisburg Town Center. Walk to shops and dining. Split BR plan, primary bath with double sinks. Granite counter tops in kitchen, stainless appliances, modern fixtures. Minutes to 485. Close to Frank Liske park for nature lovers. Extra storage room on covered porch. Microwave on wall does not work, microwave on counter will remain

22. 2023-03-06
    soldstatus $225,000

    Show marketing remark (391 chars)

    Great 3rd floor condo. Move in ready in fantastic Harrisburg Town Center. Walk to shops and dining. Split BR plan, primary bath with double sinks. Granite counter tops in kitchen, stainless appliances, modern fixtures. Minutes to 485. Close to Frank Liske park for nature lovers. Extra storage room on covered porch. Microwave on wall does not work, microwave on counter will remain

23. 2023-02-16
    historical Active Under Contract 391-char remark

    Show marketing remark (391 chars)

    Great 3rd floor condo. Move in ready in fantastic Harrisburg Town Center. Walk to shops and dining. Split BR plan, primary bath with double sinks. Granite counter tops in kitchen, stainless appliances, modern fixtures. Minutes to 485. Close to Frank Liske park for nature lovers. Extra storage room on covered porch. Microwave on wall does not work, microwave on counter will remain

24. 2023-01-26
    price $239,900 391-char remark

    Show marketing remark (391 chars)

    Great 3rd floor condo. Move in ready in fantastic Harrisburg Town Center. Walk to shops and dining. Split BR plan, primary bath with double sinks. Granite counter tops in kitchen, stainless appliances, modern fixtures. Minutes to 485. Close to Frank Liske park for nature lovers. Extra storage room on covered porch. Microwave on wall does not work, microwave on counter will remain

25. 2022-11-17
    price $244,900 391-char remark

    Show marketing remark (391 chars)

    Great 3rd floor condo. Move in ready in fantastic Harrisburg Town Center. Walk to shops and dining. Split BR plan, primary bath with double sinks. Granite counter tops in kitchen, stainless appliances, modern fixtures. Minutes to 485. Close to Frank Liske park for nature lovers. Extra storage room on covered porch. Microwave on wall does not work, microwave on counter will remain

26. 2022-10-26
    listed $249,900 Active 391-char remark

    Show marketing remark (391 chars)

    Great 3rd floor condo. Move in ready in fantastic Harrisburg Town Center. Walk to shops and dining. Split BR plan, primary bath with double sinks. Granite counter tops in kitchen, stainless appliances, modern fixtures. Minutes to 485. Close to Frank Liske park for nature lovers. Extra storage room on covered porch. Microwave on wall does not work, microwave on counter will remain

27. 2022-10-24
    historical $249,900 391-char remark

    Show marketing remark (391 chars)

    Great 3rd floor condo. Move in ready in fantastic Harrisburg Town Center. Walk to shops and dining. Split BR plan, primary bath with double sinks. Granite counter tops in kitchen, stainless appliances, modern fixtures. Minutes to 485. Close to Frank Liske park for nature lovers. Extra storage room on covered porch. Microwave on wall does not work, microwave on counter will remain

28. 2021-09-17
    soldstatus $216,000 Closed 723-char remark

    Show marketing remark (723 chars)

    ~End Unit Condo~ Is now available in good ole Cabarrus County Town of Harrisburg! This 3 bedroom 2 bath split-bedroom plan contains well-kept Vinyl Plank Flooring, Granite countertops, stainless steel appliances, modern fixtures and natural lighting throughout. Conveniently situated in the Harrisburg Town Center you'll be pleased to find amenities galore including phenomenal restaurants and is directly across the street from PUBlIX and banking establishments. Minutes to hwy 485 , The University of North Carolina at Charlotte and the light-rail. Make your way to Frank Liske Park and enjoy some of the best running trails with amazing pond views, tennis courts or have a BBQ at one of their picnic spots! Welcome Home!

29. 2021-08-17
    status Pending 723-char remark

    Show marketing remark (723 chars)

    ~End Unit Condo~ Is now available in good ole Cabarrus County Town of Harrisburg! This 3 bedroom 2 bath split-bedroom plan contains well-kept Vinyl Plank Flooring, Granite countertops, stainless steel appliances, modern fixtures and natural lighting throughout. Conveniently situated in the Harrisburg Town Center you'll be pleased to find amenities galore including phenomenal restaurants and is directly across the street from PUBlIX and banking establishments. Minutes to hwy 485 , The University of North Carolina at Charlotte and the light-rail. Make your way to Frank Liske Park and enjoy some of the best running trails with amazing pond views, tennis courts or have a BBQ at one of their picnic spots! Welcome Home!

30. 2021-08-13
    listed $197,500 Active 723-char remark

    Show marketing remark (723 chars)

    ~End Unit Condo~ Is now available in good ole Cabarrus County Town of Harrisburg! This 3 bedroom 2 bath split-bedroom plan contains well-kept Vinyl Plank Flooring, Granite countertops, stainless steel appliances, modern fixtures and natural lighting throughout. Conveniently situated in the Harrisburg Town Center you'll be pleased to find amenities galore including phenomenal restaurants and is directly across the street from PUBlIX and banking establishments. Minutes to hwy 485 , The University of North Carolina at Charlotte and the light-rail. Make your way to Frank Liske Park and enjoy some of the best running trails with amazing pond views, tennis courts or have a BBQ at one of their picnic spots! Welcome Home!

31. 2021-08-03
    historical $197,500 723-char remark

    Show marketing remark (723 chars)

    ~End Unit Condo~ Is now available in good ole Cabarrus County Town of Harrisburg! This 3 bedroom 2 bath split-bedroom plan contains well-kept Vinyl Plank Flooring, Granite countertops, stainless steel appliances, modern fixtures and natural lighting throughout. Conveniently situated in the Harrisburg Town Center you'll be pleased to find amenities galore including phenomenal restaurants and is directly across the street from PUBlIX and banking establishments. Minutes to hwy 485 , The University of North Carolina at Charlotte and the light-rail. Make your way to Frank Liske Park and enjoy some of the best running trails with amazing pond views, tennis courts or have a BBQ at one of their picnic spots! Welcome Home!

32. 2018-08-01
    soldstatus $136,000 Closed
33. 2018-08-01
    soldstatus $136,000
34. 2018-06-09
    historical Under Contract - Show
35. 2018-06-07
    listed $137,900 Active

ⓘ 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: $2,263 · $189/mo
• Projected year-2 tax: $2,263 · $189/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 7/10 Severe 7 d/yr ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 22% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,417
• − Mortgage interest: −$13,164
• − Property taxes: −$2,263
• − Insurance: −$1,175
• − Repairs & maintenance: −$2,433
• − Management: −$2,433
• − HOA: −$4,884
• − Depreciation: −$6,836
• Taxable loss: −$2,771
• Est. tax savings @ 24.0%: +$665
• After-tax cash flow: $1,584/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 — Harrisburg

• Score: 79/100
• State rank: #23
• US rank: #2104

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Harrisburg, NC
• County: Cabarrus County · 218,793 people
• City population: 21,517
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 21,517
• Household income: $144,288
• Rent vs Own: 7.2% rent · 92.8% own
• Severe rent burden: 107.0

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 0.61)
• Race & ethnicity: White 59% Black 12% Asian 12% Two or more races 11% Hispanic / Latino 8%
• Hispanic origin (detail): Mexican 2% Dominican 2%
• Common ancestry: Serbian 3% Slovak 2% Romanian 2%
• Foreign-born: 13% · Canada, China, India
• Languages at home: 81% English-only · Spanish 5% Other Indo-European 5% Other Asian/Pacific 3%

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: ▼ -105.04%
• Current HPI: 238.1994
• Rent YoY: ▲ 8.99%
• 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

+70.4% since first listed

21 events — show timeline

• 2026-05-07 Price Changed $235,000 CANOPYMLS as Distributed by MLS Grid
• 2026-03-04 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2026-03-04 Price Changed $245,000 CANOPYMLS as Distributed by MLS Grid
• 2025-07-09 Price Changed $260,000 CANOPYMLS as Distributed by MLS Grid
• 2025-04-03 Listed $270,000 CANOPYMLS as Distributed by MLS Grid
• 2025-03-31 Coming Soon $270,000 CANOPYMLS as Distributed by MLS Grid
• 2023-03-06 Sold (Public Records) $225,000 Public Records
• 2023-03-06 Sold (MLS) $225,000 CANOPYMLS as Distributed by MLS Grid
• 2023-02-16 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2023-01-26 Price Changed $239,900 CANOPYMLS as Distributed by MLS Grid
• 2022-11-17 Price Changed $244,900 CANOPYMLS as Distributed by MLS Grid
• 2022-10-26 Listed $249,900 CANOPYMLS as Distributed by MLS Grid
• 2022-10-24 Coming Soon $249,900 CANOPYMLS as Distributed by MLS Grid
• 2021-09-17 Sold (MLS) $216,000 CANOPYMLS as Distributed by MLS Grid
• 2021-08-17 Pending — CANOPYMLS as Distributed by MLS Grid
• 2021-08-13 Listed $197,500 CANOPYMLS as Distributed by MLS Grid
• 2021-08-03 Coming Soon $197,500 CANOPYMLS as Distributed by MLS Grid
• 2018-08-01 Sold (Public Records) $136,000 Public Records
• 2018-08-01 Sold (MLS) $136,000 CANOPYMLS as Distributed by MLS Grid
• 2018-06-09 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2018-06-07 Listed $137,900 CANOPYMLS as Distributed by MLS Grid

Property tax history

+8.5%/yr

Latest (2025): $2,263 · +0.0% YoY. Source: county tax records.