731 E Third Ave · Gastonia, NC 28054

$130,000

2 bd · 1.0 ba · 1,314 sqft · SingleFamily public records · 17 Days on market

Built 1920 10,018 sqft lot Est $239k · 46% under

---

Why this score? — see what drove the B- 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 +24.7/30.0
• ARV discount +15.0/15.0
• DSCR +8.0/10.0
• 1% rule +6.1/10.0
• Schools +3.6/10.0
• Livability +3.0/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor opportunity in the heart of Gastonia. This home needs work and is priced accordingly — a great candidate for a cosmetic rehab, whether you're looking to flip or hold as a rental. Located near downtown Gastonia, shopping, and major commuter routes. Sold as-is. Showings available at the Open House only: Saturday, June 6th, 11 AM–2 PM. Bring your contractor and take a look.

Key facts

• Investor opportunity
• Cosmetic rehab
• 0.23 acre lot

Tags

• INVESTOR OPPORTUNITY
• COSMETIC REHAB
• NEAR DOWNTOWN GASTONIA
• MAJOR COMMUTER ROUTES

Property features AI

Finance

• HOA & community: No HOA dues

Exterior

• Parking: Driveway parking; One open parking space
• Utilities: City water; Public sewer; Electricity connected
• Home design: Single-family residence; Site-built construction; One story; Entry level: Main; Residential zoning
• Construction: Vinyl exterior; Composition roof; Crawl space foundation; Built as site-built
• Exterior features: Back yard fencing; Dirt and paved road access; Publicly maintained road

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: Three bedrooms (all on the main level)
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Electric range; Refrigerator; Room count: 1
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $271 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Recommended offer: $128k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 3.7% in Gastonia — 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 59/100 on livability (#528 in NC) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools D, employment D, crime F.
• Gaston County Schools (suburban): math 44% / reading 42% proficiency, ranked #93 of 178 in NC (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents flat; 180 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 2,069 units permitted in Gaston County in 2024 (142 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Gaston County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.
• Current owner paid $50k; list at $130k implies a 160% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 25% 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 $128,050 (1.5% below list)

Questions for the listing agent

1. Built in 1920 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. 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.
6. 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.
7. 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: 1.11% ✓
• Cap rate: 8.80%
• Cash-on-cash: 8.94%
• DSCR: 1.40
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $239,148
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
425 S Columbia St	0.28mi	3/1.0 (+1)	1,285 (-2%)	7mo	$150,000	$117	72
621 E Maple Ave	0.10mi	3/2.5 (+1)	1,394 (+6%)	6mo	$259,900	$186	70
910 E Fourth Ave	0.26mi	3/2.0 (+1)	1,248 (-5%)	6mo	$207,000	$166	66
1040 Laurel Ln	0.73mi	2/1.0	1,315 (+0%)	2mo	$185,000	$141	64
108 S Belvedere Ave	0.48mi	3/1.0 (+1)	1,280 (-3%)	5mo	$138,000	$108	64
224 Columbia St	0.28mi	3/2.5 (+1)	1,475 (+12%)	1mo	$290,000	$197	55
411 Willow St	0.34mi	3/2.0 (+1)	1,172 (-11%)	3mo	$165,000	$141	54
412 E Walnut Ave	0.73mi	3/2.0 (+1)	1,322 (+1%)	8mo	$240,000	$182	49
506 Beacon St	0.72mi	3/2.5 (+1)	1,261 (-4%)	2mo	$274,900	$218	47
205 E 8th Ave	0.62mi	3/2.0 (+1)	1,219 (-7%)	6mo	$240,000	$197	45
306 E Ratchford Ave	0.69mi	3/2.0 (+1)	1,204 (-8%)	4mo	$226,600	$188	42
740 Crestwood Ave	0.58mi	3/1.0 (+1)	1,489 (+13%)	5mo	$205,000	$138	41

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 · 0.27% rent growth · sell at horizon

5-year hold

• IRR: -5.8%
• Equity multiple: 0.79×
• Total profit: $-7,649
• Equity at exit: $19,383

10-year hold

• IRR: 0.3%
• Equity multiple: 1.02×
• Total profit: $599
• Equity at exit: $11,240

Cash invested: $36,400 (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 28054

• Rents YoY: 0.3%
• Active inventory: 180
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,444 high
• Mortgage (P&I): −$682
• Tax from tax record: −$133 /mo · $1,600/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $271

Break-even live

Break-even rent $1,100

Max offer price $130,000

Occupancy floor 76%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
910 E Davis Ave Gastonia, NC	2.0	1.0	900	$1,288	$1.43	4d	2	0.51mi
913 Nottingham Dr Unit 33 Gastonia, NC	2.0	1.5	1120	$1,000	$0.89	16d	1	0.64mi
814 Dewey St Gastonia, NC	3.0	2.0	1104	$1,780	$1.61	4d	1	0.67mi
511 S South St Gastonia, NC	2.0	1.0	950	$1,195	$1.26	24d	1	0.75mi
516 Beacon St Gastonia, NC	3.0	2.0	1347	$1,800	$1.34	24d	1	0.76mi
141 W Main Ave Gastonia, NC	2.0	1.5	1200	$1,599	$1.33	24d	1	0.76mi
147 W Main Ave Gastonia, NC	3.0	1.0–2.0	1080	$1,950	$1.81	24d	8	0.76mi
710 Neil St Gastonia, NC	3.0	2.5	1505	$1,675	$1.11	15d	1	0.84mi
330 Willow Oak Ln Gastonia, NC	1.0–3.0	1.0–1.5	1050	$1,286	$1.22	24d	1	0.95mi
407 S Chester St Gastonia, NC	2.0	1.5	1060	$1,262	$1.19	3d	2	0.98mi
1408 Poston Cir Gastonia, NC	2.0	1.0	900	$1,395	$1.55	24d	1	1.11mi
636 Stevens St Apt P Gastonia, NC	2.0	1.5	925	$1,300	$1.41	24d	1	1.13mi
636 Stevens St Apt C Gastonia, NC	2.0	1.5	925	$1,250	$1.35	24d	1	1.13mi
118 W Harrison Ave Gastonia, NC	2.0	1.0	1500	$1,295	$0.86	24d	1	1.20mi
221 Welch Ave Unit B Gastonia, NC	2.0	1.0	1000	$1,100	$1.10	24d	1	1.32mi
917 N Oakland St Gastonia, NC	2.0	1.0	1410	$1,150	$0.82	22d	1	1.32mi
526 Carl St Gastonia, NC	1.0–2.0	1.0–1.5	825	$1,225	$1.48	4d	7	1.35mi
1216 Jackson Rd Gastonia, NC	3.0	2.0	1254	$1,825	$1.46	24d	1	1.36mi
903 W 6th Avenue B Gastonia, NC	2.0	1.0	1111	$1,450	$1.31	20d	1	1.45mi
508 Pryor St Gastonia, NC	3.0	1.0	1076	$1,350	$1.25	24d	1	1.48mi

Listing history 12 events

1. 2026-06-18
   days on market $130,000 Active 17 DOM
2. 2026-06-17
   days on market $130,000 Active 16 DOM
3. 2026-06-16
   days on market $130,000 Active 15 DOM
4. 2026-06-15
   days on market $130,000 Active 14 DOM
5. 2026-06-13
   days on market $130,000 Active 12 DOM
6. 2026-06-09
   days on market $130,000 Active 8 DOM
7. 2026-06-08
   days on market $130,000 Active 7 DOM
8. 2026-06-07
   days on market $130,000 Active 6 DOM
9. 2026-06-04
   days on market $130,000 Active 3 DOM
10. 2026-06-03
    days on market $130,000 Active 2 DOM
11. 2026-06-01
    remarks 382-char remark
12. 2026-06-01
    listed $130,000 Active 1 DOM

ⓘ 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: $1,600 · $133/mo
• Projected year-2 tax: $1,600 · $133/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 6/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 25% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,323
• − Mortgage interest: −$7,282
• − Property taxes: −$1,600
• − Insurance: −$650
• − Repairs & maintenance: −$1,386
• − Management: −$1,386
• − Depreciation: −$3,782
• Taxable income: $1,238
• Est. tax owed @ 24.0%: −$297
• After-tax cash flow: $2,957/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: Gaston County Schools
• NCES district ID: 3701620
• Math proficiency: 44% ▲ 4.00%
• Reading proficiency: 42% ▲ 1.00%
• Median HH income: $43,644
• Composite: 36.39/100
• National rank: #4680
• State rank: #93 of 178 in NC

Livability — Gastonia

• Score: 59/100
• State rank: #528
• US rank: #19444

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gastonia, NC
• County: Gaston County · 201,497 people
• City population: 114,179
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 41,707
• Household income: $61,035
• Rent vs Own: 53.2% rent · 46.8% own
• Severe rent burden: 2314.0

Population outlook (Gaston County) Hauer SSP2

• Today (2025): 230,027 people
• By 2030: 237,300 · +3.2%
• By 2040: 249,659 · +8.5%
• By 2050: 257,806 · +12.1%
• By 2075: 272,163 · +18.3%
• By 2100: 268,652 · +16.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 54% Black 29% Hispanic / Latino 10% Two or more races 9% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Slovak 2% Serbian 2% Lithuanian 1%
• Foreign-born: 6% · Canada, Jamaica, Vietnam
• Languages at home: 89% English-only · Spanish 9% Other Indo-European 1%

Political lean MEDSL · Gaston

• 2024 margin: Strong R (+25.0) · D 37.0% · R 62.1%
• 2008→2024 swing: 0.0pp no change · 2008: -25.0pp · 2024: -25.0pp
• All cycles: 2024: R+25.0 2020: R+27.8 2016: R+32.1 2012: R+25.6 2008: R+25.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -314.82%
• Current HPI: 257.2241
• Rent YoY: ▲ 0.27%
• 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

+251.4% since first listed

5 events — show timeline

• 2026-06-01 Listed $130,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-01 Listed $127,500 CANOPYMLS as Distributed by MLS Grid
• 2015-07-30 Price Changed $67,900 CANOPYMLS as Distributed by MLS Grid
• 2006-05-05 Sold (Public Records) $50,000 Public Records
• 1999-05-21 Sold (Public Records) $37,000 Public Records

Property tax history

+4.9%/yr

Latest (2025): $1,600 · -0.1% YoY. Source: county tax records.