808 Floyd Ln · Gastonia, NC 28052

$135,000

2 bd · 1.0 ba · 820 sqft · Condo public records · 23 Days on market

Built 1980 $150/mo HOA · 12% of rent

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Why this score? — see what drove the D 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 +14.5/30.0
• ARV discount +7.5/15.0
• DSCR +4.4/10.0
• 1% rule +4.3/10.0
• Rent growth +3.9/5.0
• Schools +3.6/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this charming and low-maintenance townhome, conveniently located in Gastonia. This inviting 2-bedroom home offers an open layout with spacious living areas and neutral finishes. The kitchen features ample cabinet space and flows seamlessly into the dining and living areas, creating an ideal setup for both everyday living and entertaining. Both bedrooms are conveniently located across from each other, while the private rear patio provides the perfect space to relax outdoors or enjoy your morning coffee. Surrounded by mature trees and tucked into a quiet community setting, this home offers comfort, convenience, and easy living. Residents enjoy HOA-maintained grounds and a convenien

Key facts

• Easy commute
• Convenient location
• Private rear patio

Tags

• PRIVATE REAR PATIO
• HOA MAINTAINED GROUNDS
• CONVENIENT LOCATION
• EASY COMMUTE

Property features AI

Finance

• HOA & community: Merritt on Floyd HOA; Mandatory HOA; Monthly HOA fee of $150

Exterior

• Parking: Parking space(s)
• Utilities: City water; Public sewer
• Home design: Residential condominium; Single-story; Site built construction; Single family limited (R-1 zoning)
• Construction: Partial brick and vinyl exterior; Slab foundation; Other foundation details noted
• Exterior features: Patio; Paved road access; Publicly maintained road

Interior

• Kitchen: Dishwasher; Electric range; Microwave
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Central heating; Space heater; Central air conditioning
• Interior features: Six total rooms; Entry level: 1
• Laundry & utility: In-unit laundry; Laundry closet

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $135k.

Deal economics

• At list price, monthly cash flow is $30 ($361/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 (6.9% below list).
• Recommended offer: $126k (6.9% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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: Gardner Park Elementary (math 35% / reading 36%, grade F, #817 of 1,410 statewide, top 58%, 521 students, 99% FRL); York Chester Middle (math 27% / reading 24%, grade F, #388 of 475 statewide, top 83%, 431 students, 98% FRL); Ashbrook High (math 57% / reading 46%, grade D+, #299 of 535 statewide, top 56%, 1,303 students, 72% FRL) — zoned schools average 90% FRL vs 37% district-wide (53 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.6%/yr); 352 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 30% 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 $933 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 23 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $47k; list at $135k implies a 187% gain — meaningful room to come down on a strong offer.

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 $125,691 (6.9% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.93% ✗
• Cap rate: 6.56%
• Cash-on-cash: 0.96%
• DSCR: 1.04
• GRM: 9.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.63% rent growth · sell at horizon

5-year hold

• IRR: -11.7%
• Equity multiple: 0.56×
• Total profit: $-16,508
• Equity at exit: $20,129

10-year hold

• IRR: 1.0%
• Equity multiple: 1.08×
• Total profit: $3,029
• Equity at exit: $11,672

Cash invested: $37,800 (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 28052

• Rents YoY: 5.6%
• Active inventory: 352
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,257 high
• Mortgage (P&I): −$708
• Tax from tax record: −$49 /mo · $584/yr
• Insurance: −$56
• HOA: −$150
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $30

Break-even live

Break-even rent $1,219

Max offer price $135,000

Occupancy floor 93%

Sensitivity live

Price	-10% $107	-5% $68	+0% $30	+5% $-8	+10% $-46
Rent	-10% $-69	-5% $-20	+0% $30	+5% $80	+10% $129
Rate	-1.0pp $98	-0.5pp $64	base $30	+0.5pp $-5	+1.0pp $-40

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
105 Summit St Gastonia, NC	2.0	1.0	894	$995	$1.11	19d	1	0.28mi
315 S Ransom St Gastonia, NC	3.0	1.0	1012	$1,399	$1.38	16d	1	0.29mi
300 S Firestone St Gastonia, NC	1.0	1.0	902	$1,425	$1.58	25d	1	0.31mi
903 W 6th Avenue B Gastonia, NC	2.0	1.0	1111	$1,450	$1.31	22d	1	0.32mi
112 Dean St Gastonia, NC	2.0	2.0	882	$1,400	$1.59	25d	1	0.32mi
112 Miller St Gastonia, NC	3.0	1.0	950	$1,395	$1.47	0d	1	0.33mi
112 Miller St Gastonia, NC	3.0	1.0	950	$1,395	$1.47	25d	1	0.33mi
416 S Weldon St Gastonia, NC	2.0	1.0	650	$900	$1.38	16d	1	0.35mi
408 S Weldon St Gastonia, NC	2.0	1.0	600	$900	$1.50	16d	1	0.37mi
610 W 5th Ave Unit 12 Gastonia, NC	2.0	1.0	676	$950	$1.41	25d	1	0.53mi
210 S Highland St Unit A Gastonia, NC	1.0	1.0	800	$995	$1.24	18d	1	0.60mi
1632 W 5th Ave Unit C Gastonia, NC	1.0	1.0	580	$1,050	$1.81	25d	1	0.72mi
407 S Chester St Gastonia, NC	2.0	1.5	1060	$1,262	$1.19	5d	2	0.79mi
612 W Main Ave Gastonia, NC	1.0	1.0	777	$1,551	$2.00	25d	1	0.79mi
612 W Main Ave Gastonia, NC	1.0	1.0	810	$1,500	$1.85	4d	1	0.79mi
1917 Parkdale Ave Gastonia, NC	2.0	1.5	800	$930	$1.16	25d	1	0.80mi
1923 Parkdale Ave Gastonia, NC	2.0	1.5	800	$930	$1.16	25d	1	0.81mi
1665 N Webb St Apt : H Gastonia, NC	2.0	1.0	674	$1,025	$1.52	25d	1	0.84mi
604 Westwood Cir Gastonia, NC	2.0	1.0	886	$1,450	$1.64	0d	1	0.97mi
1204 Iva Ave Gastonia, NC	2.0	1.0	816	$1,275	$1.56	25d	1	0.98mi
511 S South St Gastonia, NC	2.0	1.0	950	$1,195	$1.26	25d	1	1.01mi
401 N Highland St Gastonia, NC	2.0	2.0	944	$1,471	$1.56	6d	1	1.03mi
710 Glenn St Gastonia, NC	2.0	1.0	800	$1,125	$1.41	25d	1	1.06mi
2104 W 6th Ave Gastonia, NC	2.0	1.0	800	$1,050	$1.31	25d	1	1.07mi
807 Memory Ln Gastonia, NC	3.0	1.0	864	$1,200	$1.39	25d	1	1.13mi
508 Pryor St Gastonia, NC	3.0	1.0	1076	$1,350	$1.25	25d	1	1.17mi
147 W Main Ave Gastonia, NC	3.0	1.0–2.0	1080	$1,950	$1.81	25d	8	1.19mi
1027 New Beginnings Ave Gastonia, NC	2.0	1.0	560	$995	$1.78	25d	1	1.23mi
1009 Plymouth St Unit D Gastonia, NC	2.0	1.0	600	$925	$1.54	25d	1	1.29mi
1009 Plymouth St Unit A Gastonia, NC	2.0	1.0	600	$900	$1.50	25d	1	1.29mi
508 Allison Ave Gastonia, NC	2.0	1.0	770	$1,075	$1.40	5d	1	1.29mi
901 N Weldon St Gastonia, NC	3.0	1.0	858	$1,200	$1.40	16d	1	1.33mi
1109 N Ransom St Unit 1105 Gastonia, NC	3.0	1.0	850	$1,100	$1.29	25d	1	1.34mi
1120 N Ransom St Gastonia, NC	1.0	1.0	624	$1,175	$1.88	4d	1	1.37mi
1201 Butler St Unit 333-B Gastonia, NC	1.0	1.0	549	$995	$1.81	25d	1	1.46mi
1201 Butler St Gastonia, NC	1.0	1.0	549	$995	$1.81	25d	1	1.46mi
319 Osceola St Unit D Gastonia, NC	2.0	1.0	785	$1,300	$1.66	19d	1	1.46mi
319 Osceola St Gastonia, NC	2.0	1.0	785	$1,275	$1.62	5d	1	1.46mi
319 Osceola St Apt B Gastonia, NC	2.0	2.0	785	$1,275	$1.62	6d	1	1.46mi
319 Osceola St Apt H Gastonia, NC	1.0	1.0	650	$1,150	$1.77	19d	1	1.46mi

HOA detail condo

• Monthly dues: $150 · $1,800/yr
• Likely covers: gaslandscaping
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-21
   days on market $135,000 Active 23 DOM
2. 2026-06-18
   days on market $135,000 Active 20 DOM
3. 2026-06-17
   days on market $135,000 Active 19 DOM
4. 2026-06-16
   days on market $135,000 Active 18 DOM
5. 2026-06-15
   days on market $135,000 Active 17 DOM
6. 2026-06-13
   days on market $135,000 Active 15 DOM
7. 2026-06-09
   days on market $135,000 Active 11 DOM
8. 2026-06-08
   days on market $135,000 Active 10 DOM
9. 2026-06-07
   days on market $135,000 Active 9 DOM
10. 2026-06-04
    days on market $135,000 Active 6 DOM
11. 2026-06-03
    days on market $135,000 Active 5 DOM
12. 2026-06-02
    days on market $135,000 Active 4 DOM
13. 2026-06-01
    days on market $135,000 Active 3 DOM
14. 2026-05-31
    days on market $135,000 Active 2 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: $584 · $49/mo
• Projected year-2 tax: $1,107 · $92/mo
• Expected delta: +$523/yr (+$44/mo · 89.6%)

ⓘ 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: $15,083
• − Mortgage interest: −$7,562
• − Property taxes: −$584
• − Insurance: −$675
• − Repairs & maintenance: −$1,207
• − Management: −$1,207
• − HOA: −$1,800
• − Depreciation: −$3,927
• Taxable loss: −$1,878
• Est. tax savings @ 24.0%: +$451
• After-tax cash flow: $812/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

+187.2% since first listed

2 events — show timeline

• 2026-05-29 Listed $135,000 CANOPYMLS as Distributed by MLS Grid
• 1999-03-08 Sold (Public Records) $47,000 Public Records

Property tax history

-2.5%/yr

Latest (2025): $584 · +0.0% YoY. Source: county tax records.