1242 W Airline Ave · Gastonia, NC 28052

$148,000

2 bd · 1.0 ba · 1,086 sqft · SingleFamily public records · 131 Days on market

Built 1905 6,534 sqft lot Est $207k · 29% under

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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 +21.2/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• 1% rule +4.7/10.0
• 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 MLS

Bring your investors, this one is ready for a quick remodel to rent 450-650. Newer roof, new flashing around updated windows, replaced missing vinyl siding, great Heat/AC pump, updated wiring and plumbing. Home is exempt from property disclosures and sold AS-IS! Motivated seller!!!

Key facts

• 6,534 sq ft lot
• Built 1905
• Listed 131 days

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway parking; On-street parking; 2 open parking spaces
• Utilities: City water; Public sewer
• Home design: Single-family residence (site built); One story
• Construction: Vinyl siding; Asbestos shingle roof; Crawl space foundation; Site-built construction
• Exterior features: Back yard; Cross fenced; Corner lot; Dirt and paved road access; Publicly maintained road

Interior

• Kitchen: Electric range
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: 5 total rooms; Heat pump; Central air
• Laundry & utility: Washer hookup; Electric dryer hookup; Crawl space foundation (utility access)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $148k.

Deal economics

• At list price, monthly cash flow is $214 ($3k/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 $144k (2.9% below list).
• Recommended offer: $130k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.0% 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: Pleasant Ridge Elementary (math 37% / reading 33%, grade F, #825 of 1,410 statewide, top 59%, 866 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 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); 347 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 35% 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 $1k 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 131 days — a 12% lower offer ($130k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y ago; this cycle's ask has dropped $20k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $10k; list at $148k implies a 1380% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 21% 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 $130,240 (12.0% below list)

Questions for the listing agent

1. It's been on market 131 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 1905 — 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: 0.97% ✗
• Cap rate: 8.03%
• Cash-on-cash: 6.20%
• DSCR: 1.28
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $207,426
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
509 N Ransom St	0.56mi	2/1.0	1,082 (-0%)	1mo	$180,000	$166	72
318 S Liberty St	0.43mi	2/1.0	1,033 (-5%)	0mo	$197,700	$191	72
321 S Weldon St	0.46mi	3/1.0 (+1)	1,092 (+1%)	2mo	$205,000	$188	71
210 N Vance St	0.10mi	3/2.0 (+1)	1,200 (+10%)	1mo	$245,000	$204	68
714 Apple Blossom Cir	0.62mi	3/1.0 (+1)	1,042 (-4%)	4mo	$189,000	$181	56
406 N Boyd St	0.24mi	3/2.0 (+1)	1,237 (+14%)	4mo	$265,000	$214	54
815 S Weldon St	0.70mi	2/2.0	1,040 (-4%)	4mo	$145,000	$139	53
1428 May Ave	0.51mi	3/2.0 (+1)	1,190 (+10%)	4mo	$260,000	$218	48
1432 May Ave	0.52mi	3/2.0 (+1)	1,190 (+10%)	4mo	$250,000	$210	48
79 May St	0.61mi	3/2.0 (+1)	1,174 (+8%)	2mo	$190,000	$162	47
410 S Hill St	0.60mi	3/2.0 (+1)	1,200 (+10%)	1mo	$250,000	$208	45
525 S Trenton St	0.67mi	2/1.0	929 (-14%)	2mo	$120,000	$129	43

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: -4.1%
• Equity multiple: 0.84×
• Total profit: $-6,476
• Equity at exit: $22,067

10-year hold

• IRR: 8.2%
• Equity multiple: 1.69×
• Total profit: $28,660
• Equity at exit: $12,796

Cash invested: $41,440 (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: 347
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,436 high
• Mortgage (P&I): −$776
• Tax from tax record: −$83 /mo · $993/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $214

Break-even live

Break-even rent $1,165

Max offer price $148,000

Occupancy floor 80%

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: $37,000
• Closing costs: $4,440
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
300 S Firestone St Gastonia, NC	2.0	2.0	1488	$1,825	$1.23	10d	1	0.22mi
300 S Firestone St Gastonia, NC	1.0	1.0	1279	$1,630	$1.27	3d	1	0.22mi
300 S Firestone St Gastonia, NC	1.0	1.0	902	$1,425	$1.58	23d	1	0.22mi
106 S Dalton St Gastonia, NC	3.0	2.0	1395	$1,550	$1.11	21d	1	0.25mi
412 N Scruggs St Gastonia, NC	3.0	2.5	1338	$1,695	$1.27	23d	1	0.29mi
315 S Ransom St Gastonia, NC	3.0	1.0	1012	$1,399	$1.38	14d	1	0.33mi
210 S Highland St Unit A Gastonia, NC	1.0	1.0	800	$995	$1.24	16d	1	0.52mi
903 W 6th Avenue B Gastonia, NC	2.0	1.0	1111	$1,450	$1.31	20d	1	0.59mi
612 W Main Ave Gastonia, NC	1.0	1.0	810	$1,500	$1.85	2d	1	0.64mi
612 W Main Ave Gastonia, NC	1.0	1.0	777	$1,551	$2.00	23d	1	0.64mi
710 Glenn St Gastonia, NC	2.0	1.0	800	$1,125	$1.41	23d	1	0.65mi
105 Summit St Gastonia, NC	2.0	1.0	894	$995	$1.11	17d	1	0.70mi
401 N Highland St Gastonia, NC	2.0	2.0	944	$1,471	$1.56	4d	1	0.71mi
1731 Parkdale Ave Gastonia, NC	3.0	2.0	1159	$1,475	$1.27	12d	1	0.73mi
112 Dean St Gastonia, NC	2.0	2.0	882	$1,400	$1.59	23d	1	0.74mi
112 Miller St Gastonia, NC	3.0	1.0	950	$1,395	$1.47	23d	1	0.74mi
1608 James St Gastonia, NC	3.0	2.0	1416	$2,000	$1.41	3d	1	0.77mi
817 W Davidson Ave Gastonia, NC	3.0	2.0	1244	$1,600	$1.29	23d	1	0.82mi
1917 Parkdale Ave Gastonia, NC	2.0	1.5	800	$930	$1.16	23d	1	0.85mi
1923 Parkdale Ave Gastonia, NC	2.0	1.5	800	$930	$1.16	23d	1	0.86mi
407 S Chester St Gastonia, NC	2.0	1.5	1060	$1,262	$1.19	3d	2	0.86mi
508 Pryor St Gastonia, NC	3.0	1.0	1076	$1,350	$1.25	23d	1	0.87mi
901 N Weldon St Gastonia, NC	3.0	1.0	858	$1,200	$1.40	14d	1	0.95mi
1109 N Ransom St Unit 1105 Gastonia, NC	3.0	1.0	850	$1,100	$1.29	23d	1	0.96mi
208 Graham St Gastonia, NC	3.0	2.0	1315	$1,800	$1.37	23d	1	0.99mi
807 N Morris St Gastonia, NC	3.0	1.0	1196	$1,350	$1.13	23d	1	1.01mi
508 Allison Ave Gastonia, NC	2.0	1.0	770	$1,075	$1.40	3d	1	1.02mi
1216 Jackson Rd Gastonia, NC	3.0	2.0	1254	$1,825	$1.46	23d	1	1.12mi
511 S South St Gastonia, NC	2.0	1.0	950	$1,195	$1.26	23d	1	1.13mi
147 W Main Ave Gastonia, NC	3.0	1.0–2.0	1080	$1,950	$1.81	23d	8	1.14mi
141 W Main Ave Gastonia, NC	2.0	1.5	1200	$1,599	$1.33	23d	1	1.15mi
2104 W 6th Ave Gastonia, NC	2.0	1.0	800	$1,050	$1.31	23d	1	1.24mi
1262 Baugh St Unit C Gastonia, NC	3.0	1.5	978	$1,300	$1.33	23d	1	1.25mi
2427 Twin Ave Gastonia, NC	2.0	1.0	1200	$1,200	$1.00	4d	1	1.28mi
1018 Sims Cir Gastonia, NC	3.0	1.0	978	$1,275	$1.30	23d	1	1.30mi
1201 N York St Gastonia, NC	2.0	1.0	860	$1,300	$1.51	23d	1	1.30mi
118 W Harrison Ave Gastonia, NC	2.0	1.0	1500	$1,295	$0.86	23d	1	1.31mi
1301 Sims Cir Unit D Gastonia, NC	1.0	1.0	702	$950	$1.35	12d	1	1.32mi
1100 Sims Cir Unit C Gastonia, NC	2.0	1.0	842	$1,250	$1.48	23d	1	1.33mi
1204 Iva Ave Gastonia, NC	2.0	1.0	816	$1,275	$1.56	23d	1	1.33mi

Listing history 28 events

1. 2026-06-18
   days on market $148,000 Active 131 DOM
2. 2026-06-17
   days on market $148,000 Active 130 DOM
3. 2026-06-16
   days on market $148,000 Active 129 DOM
4. 2026-06-15
   days on market $148,000 Active 128 DOM
5. 2026-06-13
   days on market $148,000 Active 126 DOM
6. 2026-06-09
   days on market $148,000 Active 122 DOM
7. 2026-06-08
   days on market $148,000 Active 121 DOM
8. 2026-06-07
   days on market $148,000 Active 120 DOM
9. 2026-06-04
   days on market $148,000 Active 117 DOM
10. 2026-06-03
    days on market $148,000 Active 116 DOM
11. 2026-06-02
    days on market $148,000 Active 115 DOM
12. 2026-06-02
    price $148,000 Active 114 DOM
13. 2026-05-31
    days on market $156,000 Active 114 DOM
14. 2026-05-18
    status Active
15. 2026-04-08
    price $156,000
16. 2026-04-03
    status Active
17. 2026-03-10
    price $158,000
18. 2026-02-05
    listed $168,000 Active
19. 2026-02-05
    historical $168,000
20. 2015-10-19
    price $52,500
21. 2015-07-13
    soldstatus $10,000 Closed 283-char remark

    Show marketing remark (283 chars)

    Bring your investors, this one is ready for a quick remodel to rent 450-650. Newer roof, new flashing around updated windows, replaced missing vinyl siding, great Heat/AC pump, updated wiring and plumbing. Home is exempt from property disclosures and sold AS-IS! Motivated seller!!!

22. 2015-07-08
    historical Under Contract - Show 283-char remark

    Show marketing remark (283 chars)

    Bring your investors, this one is ready for a quick remodel to rent 450-650. Newer roof, new flashing around updated windows, replaced missing vinyl siding, great Heat/AC pump, updated wiring and plumbing. Home is exempt from property disclosures and sold AS-IS! Motivated seller!!!

23. 2015-05-22
    price $15,000 283-char remark

    Show marketing remark (283 chars)

    Bring your investors, this one is ready for a quick remodel to rent 450-650. Newer roof, new flashing around updated windows, replaced missing vinyl siding, great Heat/AC pump, updated wiring and plumbing. Home is exempt from property disclosures and sold AS-IS! Motivated seller!!!

24. 2015-05-09
    price $18,000 283-char remark

    Show marketing remark (283 chars)

    Bring your investors, this one is ready for a quick remodel to rent 450-650. Newer roof, new flashing around updated windows, replaced missing vinyl siding, great Heat/AC pump, updated wiring and plumbing. Home is exempt from property disclosures and sold AS-IS! Motivated seller!!!

25. 2015-03-09
    status Active 283-char remark

    Show marketing remark (283 chars)

    Bring your investors, this one is ready for a quick remodel to rent 450-650. Newer roof, new flashing around updated windows, replaced missing vinyl siding, great Heat/AC pump, updated wiring and plumbing. Home is exempt from property disclosures and sold AS-IS! Motivated seller!!!

26. 2015-03-05
    historical Under Contract - Show 283-char remark

    Show marketing remark (283 chars)

    Bring your investors, this one is ready for a quick remodel to rent 450-650. Newer roof, new flashing around updated windows, replaced missing vinyl siding, great Heat/AC pump, updated wiring and plumbing. Home is exempt from property disclosures and sold AS-IS! Motivated seller!!!

27. 2015-03-02
    listed $22,000 Active 283-char remark

    Show marketing remark (283 chars)

    Bring your investors, this one is ready for a quick remodel to rent 450-650. Newer roof, new flashing around updated windows, replaced missing vinyl siding, great Heat/AC pump, updated wiring and plumbing. Home is exempt from property disclosures and sold AS-IS! Motivated seller!!!

28. 1994-09-23
    soldstatus $25,000

ⓘ 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: $993 · $83/mo
• Projected year-2 tax: $1,214 · $101/mo
• Expected delta: +$220/yr (+$18/mo · 22.2%)

ⓘ 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 ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 21% 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: $17,238
• − Mortgage interest: −$8,290
• − Property taxes: −$993
• − Insurance: −$740
• − Repairs & maintenance: −$1,379
• − Management: −$1,379
• − Depreciation: −$4,305
• Taxable income: $151
• Est. tax owed @ 24.0%: −$36
• After-tax cash flow: $2,535/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

+524.0% since first listed

15 events — show timeline

• 2026-05-18 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2026-04-08 Price Changed $156,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-03 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2026-03-10 Price Changed $158,000 CANOPYMLS as Distributed by MLS Grid
• 2026-02-05 Listed $168,000 CANOPYMLS as Distributed by MLS Grid
• 2026-02-05 Coming Soon $168,000 CANOPYMLS as Distributed by MLS Grid
• 2015-10-19 Price Changed $52,500 CANOPYMLS as Distributed by MLS Grid
• 2015-07-13 Sold (MLS) $10,000 CANOPYMLS as Distributed by MLS Grid
• 2015-07-08 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2015-05-22 Price Changed $15,000 CANOPYMLS as Distributed by MLS Grid
• 2015-05-09 Price Changed $18,000 CANOPYMLS as Distributed by MLS Grid
• 2015-03-09 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2015-03-05 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2015-03-02 Listed $22,000 CANOPYMLS as Distributed by MLS Grid
• 1994-09-23 Sold (Public Records) $25,000 Public Records

Property tax history

+7.3%/yr

Latest (2025): $993 · +0.0% YoY. Source: county tax records.