502 W Henry St · Mount Holly, NC 28012

$230,000

2 bd · 1.0 ba · 1,300 sqft · SingleFamily public records · 38 Days on market

Built 1962 0.67 ac lot Est $325k · 29% under ↓ 8% since listing

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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 +23.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.7/10.0
• 1% rule +5.1/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This property has great potential! 1-owner home, and it is dated but appears to have been well cared for over the years. 3-bedroom, 1-bath home with an enclosed carport (included in the heated square footage). Hardwood flooring in the family room, hallway, and 2 of the 3 bedrooms. The windows have been upgraded to insulated windows at some point. The roof is believed to be approx 2007, the HVAC approx 5 years old. There is a lot to work with here, or it can easily be lived in, in its present state. Come check it out. This is an Estate property with only 1 heir and will be conveyed by a special warranty deed and in as-is condition. The Seller has not lived in the home in several years. The s

Key facts

• 0.67 acre lot
• Built 1962
• Listed 38 days

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: City water; Public sewer; Electricity connected
• Home design: Single-family residence (site built); One story; R-12 zoning
• Construction: Brick partial and vinyl exterior; Composition roof; Crawl space and slab foundation; Built as site-built construction
• Exterior features: Deck; Back yard fencing; Concrete and paved road access (publicly maintained)

Interior

• Kitchen: Electric cooktop; Wall oven
• Bedrooms: 3 bedrooms on the main level
• Flooring: Tile; Vinyl; Wood
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Insulated windows; 8 total rooms; Fireplace in the family room
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $447 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $230k).
• Recommended offer: $223k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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: Catawba Heights Elementary (math 47% / reading 37%, grade F, #633 of 1,410 statewide, top 48%, 259 students, 67% FRL); South Point High (math 87% / reading 71%, grade A-, #82 of 535 statewide, top 15%, 955 students, 32% FRL).
• Zoned-school proficiency averages 60% at this address vs 43% district-wide (+18 pts) — the actual schools serving this property are materially stronger than the Gaston County Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+2.7%/yr); 420 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).
• This rent runs 34% of the median local income ($83k/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 $2k of loan paydown is wiped out by about $7k 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 38 days — a 3% lower offer ($223k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 23% 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 $223,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
6. 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.
7. 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: 1.01% ✓
• Cap rate: 8.62%
• Cash-on-cash: 8.32%
• DSCR: 1.37
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $325,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
511 Cherry St	0.12mi	3/2.0 (+1)	1,212 (-7%)	1mo	$305,500	$252	73
300 Cherry St	0.21mi	2/2.0	1,244 (-4%)	10mo	$255,000	$205	71
226-B Brookwood Rd	0.17mi	3/2.0 (+1)	1,181 (-9%)	2mo	$274,900	$233	66
203 Blanche Ave	0.50mi	3/2.0 (+1)	1,276 (-2%)	1mo	$340,000	$266	64
107 Fire Department Dr	0.54mi	3/2.0 (+1)	1,323 (+2%)	2mo	$385,000	$291	61
108 E Main St	0.49mi	3/2.0 (+1)	1,338 (+3%)	7mo	$319,000	$238	57
515 Cherry St	0.16mi	3/2.5 (+1)	1,462 (+12%)	6mo	$325,000	$222	56
1306 S Main St	0.42mi	2/1.5	1,118 (-14%)	1mo	$230,000	$206	54
100 Centerview St	0.58mi	3/2.0 (+1)	1,213 (-7%)	0mo	$337,000	$278	52
936 Cason St	0.44mi	3/2.0 (+1)	1,140 (-12%)	0mo	$285,000	$250	50
206 Ross Ct	0.53mi	3/1.0 (+1)	1,120 (-14%)	1mo	$268,000	$239	46
1114 Cason St #6	0.64mi	3/2.0 (+1)	1,208 (-7%)	8mo	$337,000	$279	42

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 · 2.67% rent growth · sell at horizon

5-year hold

• IRR: -4.0%
• Equity multiple: 0.85×
• Total profit: $-9,678
• Equity at exit: $34,294

10-year hold

• IRR: 5.3%
• Equity multiple: 1.38×
• Total profit: $24,718
• Equity at exit: $19,886

Cash invested: $64,400 (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 28012

• Home prices YoY: -34.5%
• Rents YoY: 2.7%
• Active inventory: 420
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,334 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$95 /mo · $1,145/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$490
• Net cashflow: $447

Break-even live

Break-even rent $1,769

Max offer price $230,000

Occupancy floor 76%

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
107 Robinson St Belmont, NC	3.0	2.0	1300	$3,600	$2.77	4d	1	0.04mi
5038 Clearwater Lake Rd Unit 1 Mt Holly, NC	3.0	2.0	1852	$1,650	$0.89	17d	1	0.32mi
106 Margarette Ave Belmont, NC	2.0	2.0	1250	$1,750	$1.40	23d	1	0.33mi
404 Belmont Mount Holly Rd Belmont, NC	2.0	1.5	1050	$1,648	$1.57	14d	2	0.46mi
301 Tomberlin Rd Mount Holly, NC	3.0	2.0	1349	$2,500	$1.85	23d	1	0.50mi
301 Tomberlin Rd Mount Holly, NC	3.0	2.0	1349	$2,400	$1.78	4d	1	0.50mi
1109 Cason St Belmont, NC	3.0	2.0	1155	$1,625	$1.41	4d	1	0.61mi
106 Adcock St Belmont, NC	3.0	1.5	1084	$1,850	$1.71	23d	1	0.61mi
214 Ferstl Ave Belmont, NC	2.0	1.0	1014	$1,250	$1.23	23d	1	0.71mi
199 Belmont Mt Holly Rd Belmont, NC	1.0–2.0	1.0–1.5	874	$1,925	$2.20	2d	9	0.71mi
308 Eastwood Dr Mount Holly, NC	3.0	2.5	1414	$2,400	$1.70	23d	1	0.81mi
224 Howard St Mount Holly, NC	2.0	1.0	917	$1,450	$1.58	23d	1	0.93mi
1103 Johns Walk Way Belmont, NC	1.0	1.0	1325	$575	$0.43	23d	1	1.04mi
1029 Beatty Woods Dr Belmont, NC	1.0	1.0	1321	$770	$0.58	23d	1	1.05mi
417 River Park Rd Belmont, NC	2.0	2.5	1156	$1,750	$1.51	23d	1	1.16mi
315 Pine Rd Mount Holly, NC	3.0	2.0	1653	$1,750	$1.06	21d	1	1.36mi
315 Pine Rd Mount Holly, NC	3.0	2.0	1653	$1,750	$1.06	10d	1	1.36mi
63 Caldwell Dr Belmont, NC	1.0–3.0	1.0–2.0	1056	$1,917	$1.81	2d	41	1.45mi

Listing history 4 events

1. 2026-05-18
   status Pending
2. 2026-05-12
   price $230,000
3. 2026-04-11
   listed $250,000 Active
4. 2026-04-09
   historical $250,000

ⓘ 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: $1,145 · $95/mo
• Projected year-2 tax: $1,886 · $157/mo
• Expected delta: +$741/yr (+$62/mo · 64.8%)

ⓘ 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 ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 23% 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: $28,010
• − Mortgage interest: −$12,884
• − Property taxes: −$1,145
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,241
• − Management: −$2,241
• − Depreciation: −$6,691
• Taxable income: $1,660
• Est. tax owed @ 24.0%: −$398
• After-tax cash flow: $4,962/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

• Census place: Mount Holly, NC
• County: Gaston County · 201,497 people
• City population: 25,805
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 26,556
• Household income: $83,391
• Rent vs Own: 30.4% rent · 69.6% own
• Severe rent burden: 778.0

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 (84%)
• Race & ethnicity: White 84% Black 6% Hispanic / Latino 4% Two or more races 4% Asian 4%
• Common ancestry: Serbian 3% Romanian 2% Slovak 2%
• Foreign-born: 4% · Canada, Vietnam, China
• Languages at home: 93% English-only · Spanish 2% Other Indo-European 2% French/Haitian/Cajun 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: ▼ -134.92%
• Current HPI: 255.562
• Rent YoY: ▲ 2.67%
• 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

-8.0% since first listed

4 events — show timeline

• 2026-05-18 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-05-12 Price Changed $230,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-11 Listed $250,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-09 Coming Soon $250,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+4.6%/yr

Latest (2025): $1,145 · +0.0% YoY. Source: county tax records.