119 Stedman Rd · Dallas, NC 28034

$164,900

3 bd · 1.0 ba · 1,040 sqft · SingleFamily public records · 46 Days on market

Built 1965 0.50 ac lot

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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 +27.2/30.0
• DSCR +9.5/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• Schools +3.6/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Rent growth +1.1/5.0
• Appreciation +0.0/10.0

Listing remarks

Tucked away on a private drive, this 3-bedroom, 1-bathroom home offers a unique opportunity to enjoy a peaceful country setting while remaining just minutes from Dallas. Situated on approximately 0.5 acres, the property provides privacy, space, and a quiet atmosphere that is hard to find at this price point. The home features a functional layout and presents an excellent opportunity for those looking to renovate, invest, or create a personalized living space. With its desirable location and serene surroundings, this property is ideal as an investment opportunity or fixer-upper project. Whether you're an investor or a buyer looking to bring your vision to life, this property offers strong po

Key facts

• Functional layout
• Fixer-upper project
• Private drive

Tags

• PRIVATE DRIVE
• PEACEFUL COUNTRY SETTING
• APPROXIMATELY 0.5 ACRES
• FUNCTIONAL LAYOUT
• INVESTMENT OPPORTUNITY
• FIXER-UPPER PROJECT

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: City water; Septic system installed
• Home design: Single-family residential; Site-built construction; One story; R1 zoning
• Construction: Partial brick and wood exterior; Crawl space foundation
• Exterior features: Private maintained road access; Dirt and gravel road surface

Interior

• Kitchen: No appliances specified
• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Single-level home; Crawl space foundation; No built-in appliances listed
• Laundry & utility: Laundry in utility room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $474 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $160k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 5.2% in Dallas — 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 65/100 on livability (#299 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, employment 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: Carr Elementary (math 39% / reading 31%, grade F, #825 of 1,410 statewide, top 59%, 633 students, 100% FRL); W C Friday Middle School (math 38% / reading 42%, grade F, #222 of 475 statewide, top 49%, 605 students, 74% FRL); North Gaston High (math 49% / reading 42%, grade D-, #347 of 535 statewide, top 65%, 1,134 students, 63% FRL) — zoned schools average 79% FRL vs 37% district-wide (42 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents falling (-5.5%/yr); 93 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 36% of the median local income ($62k/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 $5k 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 46 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $48k; list at $165k implies a 247% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $159,953 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 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 1965 — 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. 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: 1.13% ✓
• Cap rate: 9.74%
• Cash-on-cash: 12.32%
• DSCR: 1.55
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $72,800
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1406 Ratchford Dr	0.71mi	2/1.5 (-1)	891 (-14%)	12mo	$62,000	$70	26

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -1.2%
• Equity multiple: 0.96×
• Total profit: $-2,032
• Equity at exit: $24,587

10-year hold

• IRR: 5.3%
• Equity multiple: 1.34×
• Total profit: $15,812
• Equity at exit: $14,258

Cash invested: $46,172 (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 28034

• Home prices YoY: -24.6%
• Rents YoY: -5.5%
• Active inventory: 93
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,859 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$61 /mo · $732/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$390
• Net cashflow: $474

Break-even live

Break-even rent $1,259

Max offer price $164,900

Occupancy floor 69%

Sensitivity live

Price	-10% $567	-5% $521	+0% $474	+5% $427	+10% $381
Rent	-10% $327	-5% $401	+0% $474	+5% $548	+10% $621
Rate	-1.0pp $557	-0.5pp $516	base $474	+0.5pp $431	+1.0pp $388

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: $41,225
• Closing costs: $4,947
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5703 Erin Dr Dallas, NC	2.0	2.5	1111	$1,565	$1.41	14d	1	0.98mi
6008 Bradford Ct Dallas, NC	3.0	2.0	1160	$1,719	$1.48	25d	1	1.05mi
1301 Limestone Ct Dallas, NC	2.0–3.0	2.0	1393	$2,381	$1.71	0d	6	1.15mi
308 North St Dallas, NC	3.0	1.0	1053	$1,325	$1.26	23d	1	1.35mi

Listing history 16 events

1. 2026-06-21
   days on market $164,900 Active 46 DOM
2. 2026-06-18
   days on market $164,900 Active 43 DOM
3. 2026-06-17
   days on market $164,900 Active 42 DOM
4. 2026-06-16
   days on market $164,900 Active 41 DOM
5. 2026-06-15
   days on market $164,900 Active 40 DOM
6. 2026-06-13
   pricedays on market $164,900 Active 38 DOM
7. 2026-06-09
   days on market $169,900 Active 34 DOM
8. 2026-06-08
   days on market $169,900 Active 33 DOM
9. 2026-06-07
   days on market $169,900 Active 32 DOM
10. 2026-06-04
    days on market $169,900 Active 29 DOM
11. 2026-06-03
    days on market $169,900 Active 28 DOM
12. 2026-06-02
    days on market $169,900 Active 27 DOM
13. 2026-06-01
    days on market $169,900 Active 26 DOM
14. 2026-05-31
    days on market $169,900 Active 25 DOM
15. 2026-05-06
    listed $169,900 Active
16. 1992-08-01
    soldstatus $47,500

ⓘ 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: $732 · $61/mo
• Projected year-2 tax: $1,352 · $113/mo
• Expected delta: +$620/yr (+$52/mo · 84.7%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 15% 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: $22,308
• − Mortgage interest: −$9,237
• − Property taxes: −$732
• − Insurance: −$824
• − Repairs & maintenance: −$1,785
• − Management: −$1,785
• − Depreciation: −$4,797
• Taxable income: $3,148
• Est. tax owed @ 24.0%: −$756
• After-tax cash flow: $4,934/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 — Dallas

• Score: 65/100
• State rank: #299
• US rank: #12509

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Gaston County · 201,497 people
• City population: 18,979
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 18,979
• Household income: $62,083
• Rent vs Own: 25.4% rent · 74.6% own
• Severe rent burden: 383.0

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: Predominantly White (69%)
• Race & ethnicity: White 69% Black 16% Hispanic / Latino 9% Two or more races 6% Native American 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Slovak 2% Serbian 2% Italian 1%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 94% English-only · Spanish 5%

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: ▼ -78.58%
• Current HPI: 241.4021
• Rent YoY: ▼ -5.47%
• 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

+257.7% since first listed

2 events — show timeline

• 2026-05-06 Listed $169,900 CANOPYMLS as Distributed by MLS Grid
• 1992-08-01 Sold (Public Records) $47,500 Public Records

Property tax history

+1.9%/yr

Latest (2025): $732 · +0.0% YoY. Source: county tax records.