512 Ford St · Kannapolis, NC 28083

$150,000

2 bd · 1.0 ba · 896 sqft · SingleFamily public records · 62 Days on market

Built 1935 0.26 ac lot Est $204k · 27% under

---

Why this score? — see what drove the C 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 +20.0/30.0
• ARV discount +15.0/15.0
• DSCR +6.3/10.0
• 1% rule +5.0/10.0
• Livability +3.2/5.0
• Rent growth +3.0/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Calling all investors and dreamers looking for a beautiful property full of potential! This is a fantastic opportunity to bring your vision to life and create something truly special. Whether you’re looking to renovate, update, or completely transform the space, this property offers the perfect canvas to make it your own. With the right improvements and personal touch, this home could shine and deliver great value. Ideal for those with a creative eye or investment goals, the possibilities here are endless. * * Buyer to verify all utilities and property details. Seller has never occupied the property. ” * *

Key facts

• 0.26 acre lot
• Built 1935
• Listed 62 days

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Utilities: Other (see remarks)
• Home design: Single-family residence; One-story; Site-built construction; Vinyl exterior; Entry level: Main; Zoned R8
• Construction: Crawl space foundation
• Exterior features: Paved, publicly maintained road access; Road surface may include other or none as noted; No waterfront

Interior

• Kitchen: No kitchen appliances listed
• Bedrooms: 2 bedrooms (both on the main level)
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Heating: Other (see remarks); Cooling: Other (see remarks)
• Interior features: 5 total rooms; No built-in appliances listed
• Laundry & utility: No laundry facilities listed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $184 ($2k/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 $149k (0.5% below list).
• Recommended offer: $141k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.8% 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: Forest Park Elementary (math 32% / reading 36%, grade F, #882 of 1,410 statewide, top 63%, 444 students, 99% 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); 140 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 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

• It's been on market 62 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $22k; list at $150k implies a 582% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1935 — 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 $141,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1935 — 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: 1.00% ✗
• Cap rate: 7.76%
• Cash-on-cash: 5.24%
• DSCR: 1.23
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $204,288
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
803 Desoto Ave	0.18mi	2/1.0	937 (+5%)	5mo	$218,000	$233	80
402 Ford St	0.18mi	2/1.5	920 (+3%)	6mo	$209,500	$228	80
613 Hillside St	0.27mi	2/1.0	857 (-4%)	5mo	$195,000	$228	76
310 Pineview St	0.21mi	2/1.0	813 (-9%)	1mo	$205,000	$252	74
902 Oakshade Ave	0.27mi	2/1.0	851 (-5%)	6mo	$185,000	$217	74
813 S Ridge Ave	0.30mi	2/1.0	953 (+6%)	12mo	$167,500	$176	65
1105 Horton Ave	0.45mi	3/1.0 (+1)	928 (+4%)	12mo	$113,500	$122	59
1000 Oakshade Ave	0.30mi	2/1.0	997 (+11%)	11mo	$245,000	$246	58
705 Gem St	0.56mi	2/1.0	804 (-10%)	0mo	$197,000	$245	56
351 Old Centergrove Rd	0.39mi	3/1.0 (+1)	1,030 (+15%)	1mo	$179,300	$174	51
495 Carver St	0.49mi	2/1.0	1,007 (+12%)	10mo	$80,000	$79	48
830 Richard Ave	0.73mi	2/1.0	785 (-12%)	12mo	$165,000	$210	35

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 · 2.15% rent growth · sell at horizon

5-year hold

• IRR: -9.1%
• Equity multiple: 0.67×
• Total profit: $-13,885
• Equity at exit: $22,365

10-year hold

• IRR: -0.8%
• Equity multiple: 0.95×
• Total profit: $-2,155
• Equity at exit: $12,969

Cash invested: $42,000 (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: 140
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,493 high
• Mortgage (P&I): −$787
• Tax from tax record: −$147 /mo · $1,763/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $184

Break-even live

Break-even rent $1,261

Max offer price $150,000

Occupancy floor 83%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
531 Park St Kannapolis, NC	2.0	1.5	1050	$1,235	$1.18	24d	1	0.20mi
310 Pineview St Kannapolis, NC	2.0	1.0	813	$1,599	$1.97	11d	1	0.23mi
310 Pineview St Unit NA Kannapolis, NC	2.0	1.0	813	$1,650	$2.03	18d	1	0.23mi
530 Walter St Kannapolis, NC	2.0	1.5	1050	$1,350	$1.29	24d	1	0.23mi
528 Walter St Kannapolis, NC	2.0	1.5	1050	$1,350	$1.29	24d	1	0.23mi
303 York Ave Kannapolis, NC	1.0	1.0	829	$1,295	$1.56	2d	1	0.38mi
760 Hillside St Kannapolis, NC	2.0	2.5	1008	$1,495	$1.48	13d	1	0.43mi
648 Wilson St Kannapolis, NC	1.0	1.0	650	$800	$1.23	13d	1	0.43mi
710 Irene Ave Unit A Kannapolis, NC	3.0	2.0	1064	$1,700	$1.60	24d	1	0.56mi
210 S Main St Kannapolis, NC	3.0	1.0–2.0	914	$2,203	$2.41	2d	21	0.74mi
701 Rain Place Ct Kannapolis, NC	2.0	1.0	800	$1,290	$1.61	5d	2	0.76mi
200 S Main St Kannapolis, NC	2.0	1.0–2.0	880	$2,495	$2.84	2d	84	0.77mi
1017 McLain Rd Kannapolis, NC	3.0	2.0	1046	$1,600	$1.53	2d	1	0.78mi
103 S Ridge Ave #5 Kannapolis, NC	3.0	2.5	1100	$1,600	$1.45	24d	1	0.78mi
210 Basin Ave Kannapolis, NC	1.0	1.0	600	$1,195	$1.99	18d	1	0.79mi
515 Broad St Kannapolis, NC	2.0	1.0	800	$1,250	$1.56	24d	1	0.81mi
300 Sandy Ct Kannapolis, NC	1.0–2.0	1.0	854	$1,254	$1.47	24d	1	0.92mi
1065 Ridgeway Dr Kannapolis, NC	1.0–3.0	1.0–2.0	1003	$1,190	$1.19	24d	1	0.95mi
804 Klondale Ave Kannapolis, NC	2.0	1.0	996	$1,295	$1.30	18d	1	1.02mi
421 N East Ave Kannapolis, NC	3.0	1.0	850	$1,550	$1.82	18d	1	1.16mi
500 Jackson Park Rd Unit 12 Kannapolis, NC	2.0	1.5	925	$1,305	$1.41	15d	1	1.27mi
1300 Oakwood Ave Unit 801 Kannapolis, NC	1.0	1.0	615	$1,050	$1.71	24d	1	1.29mi
1300 Oakwood Ave Unit 827 Kannapolis, NC	2.0	1.5	832	$1,100	$1.32	24d	1	1.29mi
1700 Inspired Way Kannapolis, NC	2.0	1.5	1105	$1,342	$1.21	22d	2	1.30mi
839 Robinhood Ln Unit 10 Kannapolis, NC	2.0	1.0	700	$1,050	$1.50	3d	1	1.41mi

Listing history 16 events

1. 2026-06-18
   days on market $150,000 Active 62 DOM
2. 2026-06-17
   days on market $150,000 Active 61 DOM
3. 2026-06-16
   days on market $150,000 Active 60 DOM
4. 2026-06-15
   days on market $150,000 Active 59 DOM
5. 2026-06-13
   days on market $150,000 Active 57 DOM
6. 2026-06-09
   days on market $150,000 Active 53 DOM
7. 2026-06-08
   days on market $150,000 Active 52 DOM
8. 2026-06-07
   days on market $150,000 Active 51 DOM
9. 2026-06-04
   days on market $150,000 Active 48 DOM
10. 2026-06-03
    pricestatusdays on market $150,000 Active 47 DOM
11. 2026-06-02
    days on market $175,000 Active Under Contract 46 DOM
12. 2026-06-01
    days on market $175,000 Active Under Contract 45 DOM
13. 2026-05-31
    days on market $175,000 Active Under Contract 44 DOM
14. 2026-04-19
    historical Active Under Contract
15. 2026-04-17
    listed $175,000 Active
16. 1995-12-01
    soldstatus $22,000

ⓘ 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: $1,763 · $147/mo
• Projected year-2 tax: $1,763 · $147/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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 18% 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: $17,917
• − Mortgage interest: −$8,402
• − Property taxes: −$1,763
• − Insurance: −$750
• − Repairs & maintenance: −$1,433
• − Management: −$1,433
• − Depreciation: −$4,364
• Taxable loss: −$228
• Est. tax savings @ 24.0%: +$55
• After-tax cash flow: $2,257/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 (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 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 · 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: ▼ -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

+695.5% since first listed

3 events — show timeline

• 2026-04-19 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2026-04-17 Listed $175,000 CANOPYMLS as Distributed by MLS Grid
• 1995-12-01 Sold (Public Records) $22,000 Public Records

Property tax history

+2.8%/yr

Latest (2025): $1,763 · +0.0% YoY. Source: county tax records.