220 Basin Avenue, Kannapolis, NC 28083 | MLS #4370322 | Dickens Mitchener Residential Real Estate

Price Reduced

Listing provided courtesy of Realty One Group RevolutionMLS# 4370322

Pick up a great portfolio consisting of 8 units, 5 homes (3 duplex, 2 SFR) in the rapidly appreciating market of downtown Kannapolis, all on the same block! The nhood features several new construction homes and rising rents. This portfolio represents over an 8% CAP rate which is hard to find, especially when so much of the work has already been done and over 60% of the rents are guaranteed! 3 of the units have new kitchens with granite counters, 4/5 of the homes have new roofs in 2024. These units are in high demand and are re-rented in under 30 days with long term tenants who are backed & guaranteed by a community health program providing very stable rental income. Come see all the new development taking place in/around Kannapolis and prepare to be impressed!

Source: Canopy MLS, MLS#: 4370322

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Property Type

Residential Income

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Andi Morgan
REALTOR®/Broker
Main Office
Mobile Phone 704-494-1082
Client Ratings:

Median Age

37
Population Density

1,222
College Educated

27%
Estimated Median Income

$49,527
Estimated Total Home Owners

5,333
Estimated Total Renters

3,779
Owner / Renter Divide

59% / 41%
Estimated Average Household Size

3
Total Population

25,109
Community data courtesy of LiveBy, Inc.

Owning this Home

Estimated Monthly Cost

Price

Down Payment

$ %

Loan Length (years)

Interest Rate

* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

Life at 220 Basin Avenue

Schools

School data courtesy of LiveBy, Inc.

Ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating. The schools displayed on this website are for informational purposes only and may not represent a complete or up-to-date list. School assignments are subject to change and should be verified directly with the local school district. Please contact the appropriate school district to confirm school zoning and enrollment eligibility for this property.

History

Date	Event	Value
6/30/2026Source: Canopy MLS	Price Reduction	$1,299,000 -5.5%
5/17/2026Source: Canopy MLS	Price Reduction	$1,375,000 -1.8%
4/15/2026Source: Canopy MLS	Added to Database	April 15, 2026
10/31/2023Source: Canopy MLS	Added to Database	October 31, 2023
10/31/2023Source: Canopy MLS	Added to Database	October 31, 2023