112 Academy Ave NW · Concord, NC 28025

$184,997

2 bd · 1.0 ba · 936 sqft · SingleFamily public records · 30 Days on market

Built 1965 7,100 sqft lot Est $212k · 13% 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).

• Cash flow +13.8/30.0
• ARV discount +13.3/15.0
• Schools +4.7/10.0
• DSCR +4.2/10.0
• Livability +4.0/5.0
• Rent growth +3.3/5.0
• 1% rule +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Well-maintained investment opportunity just minutes from Downtown Concord! Built in 1965, this charming home offers immediate cash flow with a reliable long-term tenant currently on a 3-month lease paying $1,050/month, with potential for future rental upside as rent is currently below market value. The property has been thoughtfully maintained over the years, including a roof replaced in 2020, gutters replaced in 2022, and crawlspace sill replacement within the last 10 years. Interior flooring and carpet are both in great condition, making this a truly turnkey opportunity. Tenant handles much of the routine property maintenance, contributing to the home’s excellent condition and stron

Key facts

• Gutters replaced
• Covered carport
• Roof replaced

Tags

• INVESTMENT OPPORTUNITY
• ROOF REPLACED
• GUTTERS REPLACED
• CRAWLSPACE SILL REPLACEMENT
• COVERED CARPORT
• ALL APPLIANCES CONVEYING

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Attached carport (1 covered space); Driveway with 1 open parking space
• Utilities: City water; Public sewer; Cable connected
• Home design: Single-family residence; Residential property; One-story; Entry and living spaces on main level
• Construction: Site-built construction; Aluminum exterior; Crawl space foundation
• Exterior features: Partial fencing; Corner lot; Publicly maintained paved concrete road; Shed(s)

Interior

• Kitchen: Dishwasher; Electric oven / Electric range; Exhaust fan / Exhaust hood; Oven; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Heat pump; Window unit(s)
• Interior features: Ceiling fans in multiple rooms; 6 total rooms
• Laundry & utility: Washer hookup (in kitchen); Washer included; Dryer hookup (electric); Dryer included; Main level laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $18 ($213/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 $148k (19.8% below list).
• Recommended offer: $148k (19.8% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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: 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: Coltrane-Webb Elementary (math 57% / reading 57%, grade C+, #249 of 1,410 statewide, top 20%, 377 students, 53% FRL); Concord Middle (math 24% / reading 30%, grade F, #374 of 475 statewide, top 80%, 713 students, 100% FRL); Concord High (math 42% / reading 50%, grade D-, #346 of 535 statewide, top 65%, 984 students, 66% FRL) — zoned schools average 73% FRL vs 36% district-wide (37 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.2%/yr); 302 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $1k of loan paydown is wiped out by about $6k 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 30 days — a 2% lower offer ($182k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 22% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $148,339 (19.8% below list)

Questions for the listing agent

1. Built in 1965 — 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. 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: 0.80% ✗
• Cap rate: 6.41%
• Cash-on-cash: 0.41%
• DSCR: 1.02
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $212,472
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
230 Spring St NW	0.10mi	3/1.0 (+1)	1,012 (+8%)	4mo	$180,000	$178	73
267 Buffalo Ave NW	0.41mi	2/1.5	896 (-4%)	11mo	$203,000	$227	62
107 Meadow Ave NE #7	0.50mi	2/1.0	978 (+4%)	12mo	$195,000	$199	59
333 Hillandale St NE	0.64mi	3/1.0 (+1)	901 (-4%)	7mo	$220,000	$244	53
44 Fenix Dr SW	0.67mi	2/1.0	881 (-6%)	9mo	$170,000	$193	52
287 Fink Ave	0.41mi	3/2.0 (+1)	1,036 (+11%)	5mo	$235,000	$227	50
147 Madison Ave NE	0.75mi	3/1.0 (+1)	964 (+3%)	8mo	$218,000	$226	49
502 Allison St NW	0.64mi	2/1.0	1,020 (+9%)	10mo	$200,000	$196	47
94 Snyder Ct NE	0.73mi	2/2.0	1,036 (+11%)	2mo	$250,000	$241	42
505 Gibson Dr NW	0.67mi	2/2.0	872 (-7%)	17mo	$255,000	$292	39
528 NW Gibson Dr NW	0.70mi	2/2.0	1,066 (+14%)	3mo	$271,000	$254	38
34 Carolina Ave NE	0.70mi	3/2.0 (+1)	981 (+5%)	18mo	$265,000	$270	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 · 3.23% rent growth · sell at horizon

5-year hold

• IRR: -15.5%
• Equity multiple: 0.45×
• Total profit: $-28,558
• Equity at exit: $27,584

10-year hold

• IRR: -6.7%
• Equity multiple: 0.57×
• Total profit: $-22,214
• Equity at exit: $15,995

Cash invested: $51,799 (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: 302
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,483 high
• Mortgage (P&I): −$970
• Tax from tax record: −$107 /mo · $1,283/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$312
• Net cashflow: $18

Break-even live

Break-even rent $1,461

Max offer price $184,997

Occupancy floor 94%

Sensitivity live

Price	-10% $122	-5% $70	+0% $18	+5% $-35	+10% $-87
Rent	-10% $-99	-5% $-41	+0% $18	+5% $76	+10% $135
Rate	-1.0pp $111	-0.5pp $65	base $18	+0.5pp $-30	+1.0pp $-79

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: $46,249
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
220 Odell Dr NW Concord, NC	1.0	1.0	700	$1,100	$1.57	25d	1	0.26mi
1 Buffalo Ave NW Concord, NC	2.0–3.0	1.5–2.0	1179	$1,200	$1.02	12d	6	0.34mi
275 Academy Ave NW Concord, NC	1.0	1.0	566	$1,180	$2.08	6d	1	0.39mi
275 Academy Ave NW Concord, NC	1.0	1.0	566	$1,180	$2.08	18d	1	0.39mi
375 Church St N Concord, NC	1.0	1.0	1010	$1,305	$1.29	0d	1	0.45mi
385 Church St N Unit 1 Concord, NC	2.0	1.0	675	$1,390	$2.06	18d	1	0.49mi
385 Church St N Unit 1 Concord, NC	2.0	1.0	750	$1,400	$1.87	25d	1	0.49mi
393 Kerr St NW Concord, NC	1.0	1.0	1050	$650	$0.62	25d	1	0.50mi
13 Douglas Ave NW Concord, NC	2.0	1.0	980	$1,650	$1.68	25d	1	0.52mi
14 Union St N Concord, NC	1.0	1.0	472	$1,400	$2.96	0d	3	0.53mi
14 Union St S Unit 308 Concord, NC	1.0	1.0	560	$1,400	$2.50	25d	1	0.56mi
14 Union St S Unit 505 Concord, NC	1.0	1.0	550	$1,300	$2.36	25d	1	0.56mi
23 Market St SW Concord, NC	2.0	1.0–2.0	940	$2,470	$2.63	12d	118	0.57mi
17 Brookwood Ave NW Unit 2 Concord, NC	2.0	1.0	867	$1,500	$1.73	0d	1	0.58mi
15 Brookwood Ave NW Unit 1 Concord, NC	2.0	1.0	843	$1,500	$1.78	18d	1	0.58mi
67 Grattan Dr NE Concord, NC	1.0	1.0	605	$1,050	$1.74	25d	1	0.62mi
52 Union St S Concord, NC	1.0	1.0	658	$1,650	$2.51	25d	1	0.63mi
161 Cannon Ave NW Concord, NC	3.0	1.0	850	$1,680	$1.98	19d	1	0.64mi
161 Cannon Ave NW Concord, NC	3.0	1.0	874	$1,680	$1.92	25d	1	0.64mi
320 NE Hamilton Dr unit E Concord, NC	2.0	1.0	800	$999	$1.25	25d	1	0.72mi
320 Hamilton Dr NE Unit H Concord, NC	2.0	1.0	800	$1,250	$1.56	23d	1	0.72mi
25 Todd Dr NE Concord, NC	2.0	2.0	936	$1,650	$1.76	25d	1	0.79mi
543 Hyde Park Dr NE Concord, NC	1.0	1.0	600	$950	$1.58	25d	1	0.83mi
260 Brookwood Ave NE Unit 1E Concord, NC	2.0	1.5	940	$1,350	$1.44	14d	1	0.91mi
538 Hillandale St NE Concord, NC	2.0	1.0	915	$1,350	$1.48	6d	1	0.92mi
179 Booker Dr SW Concord, NC	3.0	1.0	776	$1,050	$1.35	23d	1	1.15mi
680 Tulsa Ct NW Concord, NC	3.0	1.0	850	$1,350	$1.59	6d	1	1.31mi
357 Freedom St SW Unit 4A Concord, NC	2.0	1.0	832	$1,150	$1.38	25d	1	1.34mi
373 Spring St SW Unit 1 Concord, NC	1.0	1.0	624	$1,260	$2.02	16d	1	1.36mi
91 Sunderland Rd SW Unit 93 Concord, NC	2.0	1.0	829	$1,225	$1.48	25d	1	1.43mi
93 Sunderland Rd SW Concord, NC	2.0	2.0	828	$1,225	$1.48	25d	1	1.43mi

Listing history 15 events

1. 2026-06-21
   days on market $184,997 Active 30 DOM
2. 2026-06-18
   days on market $184,997 Active 27 DOM
3. 2026-06-17
   days on market $184,997 Active 26 DOM
4. 2026-06-16
   days on market $184,997 Active 25 DOM
5. 2026-06-15
   days on market $184,997 Active 24 DOM
6. 2026-06-13
   pricedays on market $184,997 Active 22 DOM
7. 2026-06-09
   days on market $199,000 Active 18 DOM
8. 2026-06-08
   days on market $199,000 Active 17 DOM
9. 2026-06-07
   days on market $199,000 Active 16 DOM
10. 2026-06-04
    days on market $199,000 Active 13 DOM
11. 2026-06-03
    days on market $199,000 Active 12 DOM
12. 2026-06-02
    days on market $199,000 Active 11 DOM
13. 2026-06-01
    days on market $199,000 Active 10 DOM
14. 2026-05-31
    days on market $199,000 Active 9 DOM
15. 2026-05-22
    listed $199,000 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: $1,283 · $107/mo
• Projected year-2 tax: $1,517 · $126/mo
• Expected delta: +$234/yr (+$20/mo · 18.2%)

ⓘ 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 22% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,801
• − Mortgage interest: −$10,363
• − Property taxes: −$1,283
• − Insurance: −$925
• − Repairs & maintenance: −$1,424
• − Management: −$1,424
• − Depreciation: −$5,382
• Taxable loss: −$3,000
• Est. tax savings @ 24.0%: +$720
• After-tax cash flow: $933/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

• Census place: Concord, NC
• 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

• 2026-05-22 Listed $199,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+6.3%/yr

Latest (2025): $1,283 · +0.0% YoY. Source: county tax records.