607 Morningside Dr · Mount Holly, NC 28120

$50,000

2 bd · 1.0 ba · 936 sqft · SingleFamily public records · 2 Days on market

Built 1955 0.42 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Small quaint home located in a quite neighborhood. 936 square foot home with 2 bedrooms and 1bath room, comfortable live are and kitchen. The home is on just under a half acre with a large backyard with plenty of space to entertain. The gravel driveway is long enough for 3 vehicles. Walk through by appointment only.

Key facts

• 0.42 acre lot
• Built 1955
• Listed 2 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $977 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Cap rate 29.8% vs local median 3.9% in Mount Holly — 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 67/100 on livability (#214 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: employment D+, health & safety D+, 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: Pinewood Elementary (math 52% / reading 50%, grade C-, #397 of 1,410 statewide, top 28%, 485 students, 56% FRL); Mount Holly Middle (math 45% / reading 46%, grade D+, #154 of 475 statewide, top 33%, 557 students, 62% FRL); Stuart W Cramer High (math 77% / reading 53%, grade B, #161 of 535 statewide, top 30%, 964 students, 45% FRL) — zoned schools average 54% FRL vs 37% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.1%/yr); 135 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $346 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 + 2.1% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1955 — 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 $50,000

Questions for the listing agent

1. Built in 1955 — 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 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?
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: 3.29% ✓
• Cap rate: 29.75%
• Cash-on-cash: 83.78%
• DSCR: 4.73
• GRM: 2.5

CMA / ARV

• ARV (on-the-fly): $210,600
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
128 Trexler Ave	0.68mi	3/1.0 (+1)	887 (-5%)	12mo	$200,000	$225	44

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 · 2.14% rent growth · sell at horizon

5-year hold

• IRR: 83.2%
• Equity multiple: 4.77×
• Total profit: $52,750
• Equity at exit: $7,455

10-year hold

• IRR: 86.3%
• Equity multiple: 9.60×
• Total profit: $120,445
• Equity at exit: $4,323

Cash invested: $14,000 (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 28120

• Rents YoY: 2.1%
• Active inventory: 135
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,646 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$40 /mo · $481/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $977

Break-even live

Break-even rent $409

Max offer price $50,000

Occupancy floor 36%

Sensitivity live

Price	-10% $1,006	-5% $992	+0% $977	+5% $963	+10% $949
Rent	-10% $847	-5% $912	+0% $977	+5% $1,042	+10% $1,108
Rate	-1.0pp $1,003	-0.5pp $990	base $977	+0.5pp $964	+1.0pp $951

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
105 Julia St Mount Holly, NC	3.0	1.5	1000	$1,695	$1.70	3d	1	1.32mi
101 Cavin Ave Mount Holly, NC	2.0	2.0	924	$1,650	$1.79	6d	1	1.46mi
101 Cavin Ave Unit 103-3 Mt Holly, NC	1.0	1.0	583	$1,295	$2.22	25d	1	1.46mi
405 Pine St Mount Holly, NC	2.0	1.0	839	$1,450	$1.73	25d	1	1.48mi

Listing history 3 events

1. 2021-06-01
   status Pending
2. 2021-05-31
   listed $50,000 Active
3. 2021-05-29
   historical $50,000

ⓘ 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: $481 · $40/mo
• Projected year-2 tax: $481 · $40/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 14% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,755
• − Mortgage interest: −$2,801
• − Property taxes: −$481
• − Insurance: −$250
• − Repairs & maintenance: −$1,580
• − Management: −$1,580
• − Depreciation: −$1,455
• Taxable income: $11,608
• Est. tax owed @ 24.0%: −$2,786
• After-tax cash flow: $8,943/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 — Mount Holly

• Score: 67/100
• State rank: #214
• US rank: #10224

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Gaston County · 201,497 people
• City population: 25,805
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 25,805
• Household income: $78,231
• Rent vs Own: 25.3% rent · 74.7% own
• Severe rent burden: 817.0

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 (71%)
• Race & ethnicity: White 71% Black 14% Hispanic / Latino 9% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3%
• Common ancestry: Serbian 3% Slovak 2% Italian 2%
• Foreign-born: 6% · Canada, Jamaica, Dominican Republic
• Languages at home: 92% English-only · Spanish 6% Other Asian/Pacific 1% 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: ▼ -141.08%
• Current HPI: 245.2596
• Rent YoY: ▲ 2.14%
• 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

+0.0% since first listed

3 events — show timeline

• 2021-06-01 Pending — CANOPYMLS as Distributed by MLS Grid
• 2021-05-31 Listed $50,000 CANOPYMLS as Distributed by MLS Grid
• 2021-05-29 Coming Soon $50,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+4.0%/yr

Latest (2025): $481 · +0.0% YoY. Source: county tax records.