502 Allison Ave · Gastonia, NC 28052

$145,000

2 bd · 1.0 ba · 900 sqft · SingleFamily public records · 50 Days on market

Built 1930 4,791 sqft lot Est $158k · 8% under

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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 +17.5/30.0
• ARV discount +11.3/15.0
• DSCR +5.5/10.0
• Rent growth +3.9/5.0
• 1% rule +3.7/10.0
• Schools +3.6/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Sold As Is - Where Is Double close-Please ask listing agent for more details Investor Attorneys only - Ask Listing agent for a list - Seller has not taken possession - please inspect and verify all relevant information Tenant Occupied

Key facts

• 4,791 sq ft lot
• Built 1930
• Listed 49 days

Property features AI

Finance

• Other: R1 zoning
• HOA & community: No HOA

Exterior

• Parking: Shared driveway
• Utilities: City water; Public sewer
• Home design: Single-family residence; One story; Site built
• Construction: Block and hardboard siding construction; Crawl space foundation
• Exterior features: Gravel, stone, and paved road access; Publicly maintained road

Interior

• Kitchen: Gas range; Oven; Refrigerator
• Bedrooms: 3 bedrooms, all on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Electric heating; Natural gas heating; Wall unit(s) for cooling
• Interior features: 7 total rooms; Gas water heater
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $112 ($1k/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 $126k (12.9% below list).
• Recommended offer: $126k (12.9% below list) — sets the bar for 1% rule.
• Cap rate 7.2% 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 rising fast (+5.6%/yr); 351 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 2,069 units permitted in Gaston County in 2024 (142 in 5+ unit buildings).
• This rent runs 31% of the median local income ($50k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• 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 50 days — a 3% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y ago 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 $30k; list at $145k implies a 392% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 21% 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 $126,305 (12.9% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.87% ✗
• Cap rate: 7.22%
• Cash-on-cash: 3.30%
• DSCR: 1.15
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $158,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
819 W Rankin Ave	0.48mi	2/1.0	894 (-1%)	11mo	$150,000	$168	67
1001 N Ransom St	0.55mi	2/1.0	863 (-4%)	4mo	$1,600,000	$1,854	64
503 N Boyce St	0.10mi	3/1.0 (+1)	985 (+9%)	13mo	$173,329	$176	64
506 Sycamore Ave	0.39mi	3/2.0 (+1)	979 (+9%)	4mo	$70,000	$72	55
803 N Weldon St	0.47mi	2/1.0	1,023 (+14%)	1mo	$155,000	$152	55
914 Hanover St	0.60mi	3/1.0 (+1)	960 (+7%)	2mo	$139,000	$145	54
612 N Highland St	0.27mi	3/2.0 (+1)	970 (+8%)	15mo	$217,000	$224	52
624 Windy Hill Dr	0.47mi	2/1.0	805 (-11%)	15mo	$165,000	$205	48
305 Linden Cir	0.72mi	3/1.0 (+1)	968 (+8%)	4mo	$220,000	$227	46
1211 N Boyce St	0.36mi	3/2.0 (+1)	1,014 (+13%)	11mo	$228,000	$225	44
1047 Ridge Ave	0.74mi	2/1.0	788 (-12%)	9mo	$72,000	$91	38
1043 Ridge Ave	0.72mi	2/1.0	1,009 (+12%)	14mo	$125,000	$124	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 · 5.63% rent growth · sell at horizon

5-year hold

• IRR: -8.5%
• Equity multiple: 0.68×
• Total profit: $-13,010
• Equity at exit: $21,620

10-year hold

• IRR: 3.8%
• Equity multiple: 1.31×
• Total profit: $12,468
• Equity at exit: $12,537

Cash invested: $40,600 (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 28052

• Rents YoY: 5.6%
• Active inventory: 351
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,263 high
• Mortgage (P&I): −$760
• Tax from tax record: −$65 /mo · $785/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $112

Break-even live

Break-even rent $1,122

Max offer price $145,000

Occupancy floor 86%

Sensitivity live

Price	-10% $194	-5% $153	+0% $112	+5% $71	+10% $30
Rent	-10% $12	-5% $62	+0% $112	+5% $162	+10% $211
Rate	-1.0pp $185	-0.5pp $148	base $112	+0.5pp $74	+1.0pp $36

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
508 Allison Ave Gastonia, NC	2.0	1.0	770	$1,075	$1.40	4d	1	0.03mi
508 Pryor St Gastonia, NC	3.0	1.0	1076	$1,350	$1.25	25d	1	0.19mi
310 Norment Ave Gastonia, NC	2.0	1.0	691	$995	$1.44	25d	1	0.23mi
1201 N York St Gastonia, NC	2.0	1.0	860	$1,300	$1.51	25d	1	0.26mi
401 N Highland St Gastonia, NC	2.0	2.0	944	$1,471	$1.56	5d	1	0.35mi
901 N Weldon St Gastonia, NC	3.0	1.0	858	$1,200	$1.40	16d	1	0.47mi
1120 N Ransom St Gastonia, NC	1.0	1.0	624	$1,175	$1.88	3d	1	0.54mi
1109 N Ransom St Unit 1105 Gastonia, NC	3.0	1.0	850	$1,100	$1.29	25d	1	0.55mi
612 W Main Ave Gastonia, NC	1.0	1.0	810	$1,500	$1.85	4d	1	0.58mi
612 W Main Ave Gastonia, NC	1.0	1.0	777	$1,551	$2.00	25d	1	0.58mi
1027 New Beginnings Ave Gastonia, NC	2.0	1.0	560	$995	$1.78	25d	1	0.63mi
1262 Baugh St Unit C Gastonia, NC	3.0	1.5	978	$1,300	$1.33	25d	1	0.65mi
147 W Main Ave Gastonia, NC	3.0	1.0–2.0	1080	$1,950	$1.81	25d	8	0.69mi
1017 Sims Cir Unit B Gastonia, NC	2.0	1.0	842	$1,250	$1.48	0d	1	0.70mi
604 Westwood Cir Gastonia, NC	2.0	1.0	886	$1,450	$1.64	0d	1	0.70mi
922 Dowd Dr Unit D Gastonia, NC	1.0	1.0	702	$950	$1.35	25d	1	0.72mi
1018 Sims Cir Gastonia, NC	3.0	1.0	978	$1,275	$1.30	25d	1	0.72mi
1301 Sims Cir Unit D Gastonia, NC	1.0	1.0	702	$950	$1.35	14d	1	0.73mi
402 N Broad St Gastonia, NC	1.0	1.0	600	$850	$1.42	19d	1	0.75mi
710 Glenn St Gastonia, NC	2.0	1.0	800	$1,125	$1.41	25d	1	0.76mi
1321 Sims Cir Unit B Gastonia, NC	2.0	1.0	842	$1,250	$1.48	12d	1	0.77mi
1100 Sims Cir Unit C Gastonia, NC	2.0	1.0	842	$1,250	$1.48	25d	1	0.77mi
210 S Highland St Unit A Gastonia, NC	1.0	1.0	800	$995	$1.24	17d	1	0.77mi
407 S Chester St Gastonia, NC	2.0	1.5	1060	$1,262	$1.19	4d	2	0.93mi
609 N Rhyne St Gastonia, NC	2.0	1.0	780	$1,450	$1.86	5d	1	1.01mi
300 S Firestone St Gastonia, NC	1.0	1.0	902	$1,425	$1.58	25d	1	1.02mi
315 S Ransom St Gastonia, NC	3.0	1.0	1012	$1,399	$1.38	16d	1	1.04mi
408 S Weldon St Gastonia, NC	2.0	1.0	600	$900	$1.50	16d	1	1.04mi
416 S Weldon St Gastonia, NC	2.0	1.0	650	$900	$1.38	16d	1	1.06mi
610 W 5th Ave Unit 12 Gastonia, NC	2.0	1.0	676	$950	$1.41	25d	1	1.08mi
511 S South St Gastonia, NC	2.0	1.0	950	$1,195	$1.26	25d	1	1.11mi
903 W 6th Avenue B Gastonia, NC	2.0	1.0	1111	$1,450	$1.31	21d	1	1.23mi
910 E Davis Ave Gastonia, NC	2.0	1.0	900	$1,288	$1.43	5d	2	1.40mi
1665 N Webb St Apt : H Gastonia, NC	2.0	1.0	674	$1,025	$1.52	25d	1	1.41mi

Listing history 21 events

1. 2026-06-21
   days on market $145,000 Active 50 DOM
2. 2026-06-18
   days on market $145,000 Active 47 DOM
3. 2026-06-17
   days on market $145,000 Active 46 DOM
4. 2026-06-16
   days on market $145,000 Active 45 DOM
5. 2026-06-15
   days on market $145,000 Active 44 DOM
6. 2026-06-13
   days on market $145,000 Active 42 DOM
7. 2026-06-09
   days on market $145,000 Active 38 DOM
8. 2026-06-08
   days on market $145,000 Active 37 DOM
9. 2026-06-07
   remarks 469-char remark
10. 2026-06-07
    days on market $145,000 Active 36 DOM
11. 2026-06-04
    days on market $145,000 Active 33 DOM
12. 2026-06-03
    days on market $145,000 Active 32 DOM
13. 2026-06-02
    days on market $145,000 Active 31 DOM
14. 2026-06-01
    days on market $145,000 Active 30 DOM
15. 2026-05-31
    days on market $145,000 Active 29 DOM
16. 2026-05-14
    price $145,000
17. 2026-05-03
    listed $149,000 Active
18. 2026-04-30
    historical $149,000
19. 2017-10-26
    soldstatus $29,500 Closed 238-char remark

    Show marketing remark (238 chars)

    Sold As Is - Where Is Double close-Please ask listing agent for more details Investor Attorneys only - Ask Listing agent for a list - Seller has not taken possession - please inspect and verify all relevant information Tenant Occupied

20. 2017-09-25
    historical Under Contract - No Show 238-char remark

    Show marketing remark (238 chars)

    Sold As Is - Where Is Double close-Please ask listing agent for more details Investor Attorneys only - Ask Listing agent for a list - Seller has not taken possession - please inspect and verify all relevant information Tenant Occupied

21. 2017-09-14
    listed $40,000 Active 238-char remark

    Show marketing remark (238 chars)

    Sold As Is - Where Is Double close-Please ask listing agent for more details Investor Attorneys only - Ask Listing agent for a list - Seller has not taken possession - please inspect and verify all relevant information Tenant Occupied

ⓘ 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: $785 · $65/mo
• Projected year-2 tax: $1,189 · $99/mo
• Expected delta: +$404/yr (+$34/mo · 51.5%)

ⓘ 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 6/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 21% 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: $15,157
• − Mortgage interest: −$8,122
• − Property taxes: −$785
• − Insurance: −$725
• − Repairs & maintenance: −$1,213
• − Management: −$1,213
• − Depreciation: −$4,218
• Taxable loss: −$1,119
• Est. tax savings @ 24.0%: +$268
• After-tax cash flow: $1,608/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): 36,272
• Household income: $49,643
• Rent vs Own: 45.3% rent · 54.7% own
• Severe rent burden: 1521.0

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 0.65)
• Race & ethnicity: White 46% Black 33% Hispanic / Latino 16% Two or more races 9%
• Hispanic origin (detail): Mexican 6% Puerto Rican 2%
• Common ancestry: Serbian 2% Slovak 1% Italian 1%
• Foreign-born: 7% · Canada, Dominican Republic, Jamaica
• Languages at home: 86% English-only · Spanish 13%

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: ▼ -348.71%
• Current HPI: 252.912
• Rent YoY: ▲ 5.63%
• 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

+262.5% since first listed

6 events — show timeline

• 2026-05-14 Price Changed $145,000 CANOPYMLS as Distributed by MLS Grid
• 2026-05-03 Listed $149,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-30 Coming Soon $149,000 CANOPYMLS as Distributed by MLS Grid
• 2017-10-26 Sold (MLS) $29,500 CANOPYMLS as Distributed by MLS Grid
• 2017-09-25 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2017-09-14 Listed $40,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+4.8%/yr

Latest (2025): $785 · +0.0% YoY. Source: county tax records.