209 W 1st St · Lowell, NC 28098

$110,000

2 bd · 1.0 ba · 1,064 sqft · SingleFamily public records · 1 Days on market

Built 1930 0.27 ac lot

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• ARV discount +7.5/15.0
• Appreciation +5.2/10.0
• Schools +3.6/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Two bedroom bungalow. To be sold in "AS IS CONDITION''.

Key facts

• 0.27 acre lot
• Built 1930

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: No garage; No designated parking features listed
• Utilities: City water; Public sewer
• Home design: Manufactured single-family residence; One story
• Construction: Wood construction; Crawl space foundation
• Exterior features: Lot of approximately 0.27 acres; Paved road access; Publicly maintained road

Interior

• Kitchen: No appliances listed for the kitchen
• Bedrooms: Two bedrooms on the main level
• Bathrooms: One full bathroom (main level)
• Heating & cooling: No heating system listed; No cooling system listed
• Interior features: One main-level living area (1 total room); No built-in appliances listed
• Laundry & utility: No laundry features listed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $539 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).

Location & tenants

• Location reads 66/100 on livability (#291 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A-, housing A-; Watch: employment D, schools 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.
• Market conditions: 21 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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

• In year one you build about $1k of equity ($761 loan paydown + $540 appreciation (0.5% local appreciation)).
• Gaston County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (0.5% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $7k; list at $110k implies a 1567% 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, 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 $110,000

Questions for the listing agent

1. Built in 1930 — 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 F-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. 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.
5. 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.
6. 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: 1.47% ✓
• Cap rate: 12.17%
• Cash-on-cash: 20.99%
• DSCR: 1.93
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $257,488
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
209 W 1st St	0.00mi	2/1.0	1,096 (+3%)	0mo	$105,000	$96	95
514 Hand Cir	0.29mi	3/1.0 (+1)	1,123 (+6%)	6mo	$230,000	$205	68
508 Hand Cir	0.25mi	3/1.0 (+1)	976 (-8%)	6mo	$250,000	$256	64
913 Stowe Dr	0.71mi	2/1.0	1,032 (-3%)	6mo	$255,000	$247	56
508 Mill St	0.37mi	3/2.0 (+1)	1,186 (+12%)	3mo	$289,000	$244	52
510 Mill St	0.38mi	3/2.0 (+1)	1,186 (+12%)	3mo	$286,000	$241	52
211 Seigle St Unit 37-38	0.39mi	3/2.0 (+1)	1,198 (+13%)	2mo	$290,000	$242	50
403 Groves St	0.33mi	3/2.0 (+1)	1,190 (+12%)	9mo	$270,000	$227	48
720 Martha Ave	0.55mi	3/2.0 (+1)	1,191 (+12%)	4mo	$290,000	$243	42
503 Caroline Ave	0.70mi	3/2.0 (+1)	1,186 (+12%)	2mo	$280,000	$236	37
120 S Elm St	0.59mi	3/2.0 (+1)	1,200 (+13%)	7mo	$289,900	$242	36
706 Stowe Dr	0.66mi	2/1.5	1,214 (+14%)	9mo	$260,000	$214	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.49% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.0%
• Equity multiple: 2.09×
• Total profit: $33,665
• Equity at exit: $34,666

10-year hold

• IRR: 25.5%
• Equity multiple: 3.95×
• Total profit: $90,934
• Equity at exit: $43,913

Cash invested: $30,800 (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 28098

• Home prices YoY: 0.2%
• Active inventory: 21
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,622 high
• Mortgage (P&I): −$577
• Tax from tax record: −$120 /mo · $1,439/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $539

Break-even live

Break-even rent $940

Max offer price $110,000

Occupancy floor 62%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4132 Gardner Ridge Dr Gastonia, NC	1.0	1.0	750	$1,100	$1.47	17d	6	1.00mi
2132 Boulder Ct Gastonia, NC	3.0	2.5	1441	$1,850	$1.28	2d	1	1.02mi
1351 Darlington Dr Lowell, NC	2.0	2.0	1236	$1,695	$1.37	14d	1	1.13mi
740 Log Cabin Dr Gastonia, NC	3.0	1.5	1100	$1,750	$1.59	16d	1	1.21mi
740 Log Cabin Dr Gastonia, NC	3.0	1.5	1100	$1,750	$1.59	23d	1	1.21mi
1654 Lowell Bethesda Rd Gastonia, NC	2.0	2.0	1000	$1,495	$1.50	23d	1	1.40mi
1654 Lowell Bethesda Rd Gastonia, NC	2.0	2.0	1000	$1,495	$1.50	3d	1	1.40mi
2901 Fraley Church Rd Gastonia, NC	3.0	2.0	1120	$1,800	$1.61	2d	1	1.49mi

Listing history 3 events

1. 2026-05-18
   status Pending
2. 2026-05-14
   listed $110,000 Active
3. 1966-04-01
   soldstatus $6,600

ⓘ 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: $1,439 · $120/mo
• Projected year-2 tax: $1,439 · $120/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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,462
• − Mortgage interest: −$6,162
• − Property taxes: −$1,439
• − Insurance: −$550
• − Repairs & maintenance: −$1,557
• − Management: −$1,557
• − Depreciation: −$3,200
• Taxable income: $4,997
• Est. tax owed @ 24.0%: −$1,199
• After-tax cash flow: $5,264/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 — Lowell

• Score: 66/100
• State rank: #291
• US rank: #12313

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lowell, NC
• City population: 3,746
• Population (ZIP): 3,746

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 (67%)
• Race & ethnicity: White 67% Hispanic / Latino 16% Black 12% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 10% Dominican 2%
• Common ancestry: Serbian 3% Iranian 1% Portuguese 1%
• Foreign-born: 10% · Canada, China
• Languages at home: 83% English-only · Spanish 12% Arabic 2% 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: ▲ 0.49%
• Current HPI: 258.788
• Rent YoY: —
• Metro: —
• 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

+1566.7% since first listed

3 events — show timeline

• 2026-05-18 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-05-14 Listed $110,000 CANOPYMLS as Distributed by MLS Grid
• 1966-04-01 Sold (Public Records) $6,600 Public Records

Property tax history

+3.8%/yr

Latest (2025): $1,439 · +0.0% YoY. Source: county tax records.