407 N Pear St · Gastonia, NC 28054

$125,000

2 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 31 Days on market

Built 1968 6,969 sqft lot Est $202k · 38% 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 +23.1/30.0
• ARV discount +15.0/15.0
• DSCR +7.4/10.0
• 1% rule +5.9/10.0
• 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

This 2BR fixer upper can easily be a 3BR, 2BA home with the right improvements; The vinyl siding and the metal roof are the only parts of the home that do not need updating / remodeling; Please exercise caution on the quaint front porch and the large rear deck; Wood floors in the home can be refinished; Living room wood stove and also a gas line for a space heater; Kitchen appliances have been removed; Bathroom walk-in shower with a ceramic tile surround; The laundry is located in a large open room in the back of the home with another room off of that; That back room can be broken in to a laundry room, a bathroom and a closet while the back room can be made in to the master bedroom; Attach

Key facts

• Metal roof
• Wood floors
• Vinyl siding

Tags

• VINYL SIDING
• METAL ROOF
• QUAINT FRONT PORCH
• LARGE REAR DECK
• WOOD FLOORS
• LIVING ROOM WOOD STOVE

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: City water; Public sewer
• Home design: Single-family residential, site-built; One story; R1 zoning
• Construction: Vinyl exterior; Metal roof; Crawl space foundation; Built on site
• Exterior features: Deck; Front porch; Chain link fence in back yard; Shed(s)

Interior

• Bedrooms: 2 bedrooms on the main level
• Flooring: Linoleum flooring; Wood flooring
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Forced air heating (propane); Electric cooling
• Interior features: 7 total rooms; Electric water heater
• Laundry & utility: Laundry room with electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $225 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $121k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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: employment D, crime F, amenities 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.
• Zoned schools: Brookside Elementary (math 34% / reading 32%, grade F, #890 of 1,410 statewide, top 64%, 502 students, 99% FRL); North Gaston High (math 49% / reading 42%, grade D-, #347 of 535 statewide, top 65%, 1,134 students, 63% FRL) — zoned schools average 81% FRL vs 37% district-wide (45 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 183 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $864 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 31 days — a 3% lower offer ($121k) 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 $121,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1968 — 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: 1.09% ✓
• Cap rate: 8.45%
• Cash-on-cash: 7.70%
• DSCR: 1.34
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $201,600
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1508 E Cole St	0.10mi	2/2.0	995 (-1%)	5mo	$129,000	$130	85
605 N Mcfarland St N	0.22mi	3/1.5 (+1)	1,025 (+2%)	12mo	$200,000	$195	70
1908 Flint Ln	0.30mi	2/1.0	1,101 (+9%)	6mo	$109,000	$99	66
1884 Hilltop Cir	0.35mi	2/1.0	1,090 (+8%)	7mo	$143,900	$132	64
313 Welch Ave Unit 1-3	0.45mi	2/2.0	1,040 (+3%)	9mo	$148,000	$142	63
1811 Hemlock Ave	0.26mi	2/1.0	860 (-15%)	4mo	$190,000	$221	60
1314 Poston Cir	0.50mi	2/1.0	910 (-10%)	6mo	$176,900	$194	56
1109 Balthis Dr	0.69mi	3/1.5 (+1)	1,015 (+1%)	8mo	$209,000	$206	52
1212 Bicycle Ct	0.55mi	3/2.0 (+1)	1,133 (+12%)	1mo	$234,900	$207	44
614 N Rhyne St	0.74mi	2/1.0	877 (-13%)	1mo	$175,000	$200	43
1413 Modena St	0.68mi	3/2.0 (+1)	1,146 (+14%)	3mo	$265,000	$231	34
808 Raindrops Rd	0.68mi	3/2.5 (+1)	1,158 (+15%)	11mo	$258,000	$223	24

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: -7.6%
• Equity multiple: 0.73×
• Total profit: $-9,568
• Equity at exit: $18,638

10-year hold

• IRR: -1.9%
• Equity multiple: 0.89×
• Total profit: $-3,969
• Equity at exit: $10,808

Cash invested: $35,000 (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 28054

• Rents YoY: 0.3%
• Active inventory: 183
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,358 high
• Mortgage (P&I): −$656
• Tax from tax record: −$140 /mo · $1,682/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $225

Break-even live

Break-even rent $1,073

Max offer price $125,000

Occupancy floor 78%

Sensitivity live

Price	-10% $295	-5% $260	+0% $225	+5% $189	+10% $154
Rent	-10% $117	-5% $171	+0% $225	+5% $278	+10% $332
Rate	-1.0pp $288	-0.5pp $256	base $225	+0.5pp $192	+1.0pp $159

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1808 Hemlock Ave Gastonia, NC	3.0	2.0	1190	$1,698	$1.43	25d	1	0.27mi
1907 E Elm St Gastonia, NC	2.0	1.0	848	$1,150	$1.36	23d	1	0.30mi
221 Welch Ave Unit B Gastonia, NC	2.0	1.0	1000	$1,100	$1.10	25d	1	0.31mi
1912 Gum St Gastonia, NC	2.0	1.0	896	$1,255	$1.40	16d	1	0.37mi
1408 Poston Cir Gastonia, NC	2.0	1.0	900	$1,395	$1.55	25d	1	0.38mi
330 Willow Oak Ln Gastonia, NC	1.0–3.0	1.0–1.5	1050	$1,286	$1.22	25d	1	0.62mi
1620 Poston Cir Gastonia, NC	1.0–3.0	1.0	645	$1,172	$1.82	4d	6	0.64mi
526 Carl St Gastonia, NC	1.0–2.0	1.0–1.5	825	$1,225	$1.48	5d	7	0.71mi
609 N Rhyne St Gastonia, NC	2.0	1.0	780	$1,450	$1.86	4d	1	0.78mi
2417 E Ozark Ave Apt A Charlotte NC 28269 Gastonia, NC	3.0	2.0	996	$1,450	$1.46	25d	1	0.83mi
2417 E Ozark Ave Gastonia, NC	2.0	1.0	728	$1,000	$1.37	25d	1	0.83mi
1850 Yellowstone Ct Gastonia, NC	1.0–2.0	1.0–2.0	850	$1,350	$1.59	25d	1	0.84mi
910 E Davis Ave Gastonia, NC	2.0	1.0	900	$1,288	$1.43	5d	2	0.93mi
516 Beacon St Gastonia, NC	3.0	2.0	1347	$1,800	$1.34	25d	1	1.00mi
1680 Plyler Lake Rd Gastonia, NC	3.0	2.0	1128	$1,482	$1.31	17d	1	1.19mi
917 N Oakland St Gastonia, NC	2.0	1.0	1410	$1,150	$0.82	23d	1	1.30mi
2205 Brookneal Dr Gastonia, NC	3.0	1.0	1256	$1,595	$1.27	5d	1	1.36mi
118 W Harrison Ave Gastonia, NC	2.0	1.0	1500	$1,295	$0.86	25d	1	1.46mi

Listing history 15 events

1. 2026-06-21
   days on market $125,000 Active 31 DOM
2. 2026-06-18
   days on market $125,000 Active 28 DOM
3. 2026-06-17
   days on market $125,000 Active 27 DOM
4. 2026-06-16
   days on market $125,000 Active 26 DOM
5. 2026-06-15
   days on market $125,000 Active 25 DOM
6. 2026-06-13
   days on market $125,000 Active 23 DOM
7. 2026-06-09
   days on market $125,000 Active 19 DOM
8. 2026-06-08
   days on market $125,000 Active 18 DOM
9. 2026-06-07
   days on market $125,000 Active 17 DOM
10. 2026-06-04
    days on market $125,000 Active 14 DOM
11. 2026-06-03
    days on market $125,000 Active 13 DOM
12. 2026-06-02
    days on market $125,000 Active 12 DOM
13. 2026-06-01
    days on market $125,000 Active 11 DOM
14. 2026-05-31
    days on market $125,000 Active 10 DOM
15. 2026-05-21
    listed $125,000 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: $1,682 · $140/mo
• Projected year-2 tax: $1,682 · $140/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 22% 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: $16,290
• − Mortgage interest: −$7,002
• − Property taxes: −$1,682
• − Insurance: −$625
• − Repairs & maintenance: −$1,303
• − Management: −$1,303
• − Depreciation: −$3,636
• Taxable income: $738
• Est. tax owed @ 24.0%: −$177
• After-tax cash flow: $2,518/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

1 event — show timeline

• 2026-05-21 Listed $125,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+5.9%/yr

Latest (2025): $1,682 · +0.0% YoY. Source: county tax records.