608 Crowders Creek Rd · Gastonia, NC 28052

$70,000

2 bd · 1.0 ba · 1,072 sqft · SingleFamily public records · 170 Days on market

Built 1945 0.99 ac lot ↓ 42% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Investment Opportunity, 0.99 Acre Lot 2 Bed, 1 Bath Full Renovation Needed Investor special! Located on a spacious 0.99-acre lot, this 2-bedroom, 1-bathroom property is the perfect opportunity for a complete renovation or a fresh start from the ground up. This home requires a complete renovation, providing a blank canvas for your vision. Whether you're interested in flipping the property, renting it out, or building something new, this large lot offers ample space and potential. Please note that there is no power in the house, so you’ll need a flashlight to explore the interior. According to the property owner, there was a mobile home located at the back of the lot, which had a se

Key facts

• Complete renovation
• Large lot
• 0.99 acre lot

Tags

• 0.99 ACRE LOT
• COMPLETE RENOVATION
• LARGE LOT
• SEPARATE SEPTIC SYSTEM

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $744 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.0% 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: Chapel Grove Elementary (math 37% / reading 32%, grade F, #835 of 1,410 statewide, top 62%, 357 students, 99% FRL); Southwest Middle (math 35% / reading 30%, grade F, #312 of 475 statewide, top 66%, 804 students, 100% FRL); Hunter Huss High (math 37% / reading 38%, grade F, #411 of 535 statewide, top 77%, 1,120 students, 80% FRL) — zoned schools average 93% FRL vs 37% district-wide (56 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; 2 comparable units currently listed for rent nearby; 2,069 units permitted in Gaston County in 2024 (142 in 5+ unit buildings).
• This rent runs 37% 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 $484 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 5.6% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 170 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $50k (42%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• 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 $61,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 170 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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 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: 2.18% ✓
• Cap rate: 19.05%
• Cash-on-cash: 45.56%
• DSCR: 3.03
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $219,760
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
608 Crowders Creek Rd	0.00mi	2/1.0	1,072 (0%)	1mo	$69,000	$64	99
104 Lou Dr	0.21mi	3/1.5 (+1)	1,200 (+12%)	1mo	$244,900	$204	62
4618 Cottonwood Ln	0.51mi	3/1.0 (+1)	1,038 (-3%)	7mo	$200,000	$193	60
113 Lou Dr	0.22mi	3/1.5 (+1)	1,200 (+12%)	6mo	$245,000	$204	58
4636 Merrywood Ln	0.43mi	3/2.0 (+1)	1,154 (+8%)	4mo	$260,000	$225	55
4609 Cottonwood Ln	0.57mi	3/2.0 (+1)	1,132 (+6%)	4mo	$234,000	$207	52
112 Lou Dr	0.24mi	3/1.5 (+1)	1,216 (+13%)	17mo	$289,900	$238	46
4901 Greenwood Dr	0.63mi	3/2.0 (+1)	1,222 (+14%)	14mo	$250,000	$205	27
105 Chinaberry Ct	0.73mi	3/2.0 (+1)	1,186 (+11%)	17mo	$285,500	$241	25

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: 45.6%
• Equity multiple: 3.05×
• Total profit: $40,208
• Equity at exit: $10,437

10-year hold

• IRR: 52.6%
• Equity multiple: 6.82×
• Total profit: $114,046
• Equity at exit: $6,052

Cash invested: $19,600 (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: 352
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,528 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$67 /mo · $798/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$321
• Net cashflow: $744

Break-even live

Break-even rent $586

Max offer price $70,000

Occupancy floor 46%

Sensitivity live

Price	-10% $784	-5% $764	+0% $744	+5% $724	+10% $704
Rent	-10% $623	-5% $684	+0% $744	+5% $804	+10% $865
Rate	-1.0pp $779	-0.5pp $762	base $744	+0.5pp $726	+1.0pp $708

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
145 Hickory Creek Dr Gastonia, NC	3.0	2.0	1092	$1,670	$1.53	25d	1	0.74mi
5212 Lewis Rd Gastonia, NC	3.0	1.0	1120	$1,575	$1.41	6d	1	1.45mi

Listing history 9 events

1. 2026-04-24
   status Pending
2. 2026-04-16
   status Active
3. 2026-04-16
   price $70,000
4. 2026-04-02
   status Pending
5. 2026-01-26
   status Active
6. 2026-01-11
   status Pending
7. 2026-01-05
   price $95,000
8. 2025-11-13
   price $110,000
9. 2025-10-06
   listed $120,000 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: $798 · $67/mo
• Projected year-2 tax: $798 · $67/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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 19% 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: $18,332
• − Mortgage interest: −$3,921
• − Property taxes: −$798
• − Insurance: −$350
• − Repairs & maintenance: −$1,467
• − Management: −$1,467
• − Depreciation: −$2,036
• Taxable income: $8,293
• Est. tax owed @ 24.0%: −$1,990
• After-tax cash flow: $6,939/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

• 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

-41.7% since first listed

9 events — show timeline

• 2026-04-24 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-04-16 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2026-04-16 Price Changed $70,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-02 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-01-26 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2026-01-11 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-01-05 Price Changed $95,000 CANOPYMLS as Distributed by MLS Grid
• 2025-11-13 Price Changed $110,000 CANOPYMLS as Distributed by MLS Grid
• 2025-10-06 Listed $120,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+2.5%/yr

Latest (2025): $798 · +0.0% YoY. Source: county tax records.