1024 W Sycamore Ave · Gastonia, NC 28052

$65,000

2 bd · 1.0 ba · 666 sqft · SingleFamily public records · 50 Days on market

Built 1950 7,840 sqft 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
• 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

A great opportunity to remodel or start over fresh. Lots of new construction and renovations nearby. This home offers value and investment potential, come see it today!

Key facts

• 7,840 sq ft lot
• Built 1950
• Listed 50 days

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: City water; Public sewer
• Home design: Single-family residence; Residential property; One story
• Construction: Site-built construction; Metal construction materials; Crawl space foundation; Built for 1 level living
• Exterior features: Lot approximately 0.18 acres; Roads are dirt and paved; Publicly maintained road

Interior

• Kitchen: No appliances listed
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: No heating listed; No central cooling
• Interior features: 3 total rooms; Fireplace
• Laundry & utility: No laundry features

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $473 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.0% 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: Bessemer City Primary (445 students, 99% FRL); Ashbrook High (math 57% / reading 46%, grade D+, #299 of 535 statewide, top 56%, 1,303 students, 72% FRL) — zoned schools average 86% FRL vs 37% district-wide (49 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; 11 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 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 $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $8k; list at $65k implies a 712% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• 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 $63,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 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 1950 — 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. 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. 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.
7. 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.
8. 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: 1.72% ✓
• Cap rate: 15.02%
• Cash-on-cash: 31.17%
• DSCR: 2.39
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $151,182
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1221 N Ransom St	0.06mi	2/1.0	750 (+13%)	9mo	$170,000	$227	69
1047 Sycamore Ave	0.06mi	2/1.0	721 (+8%)	21mo	$120,000	$166	66
1120 N Ransom St	0.11mi	1/1.0 (-1)	624 (-6%)	18mo	$85,000	$136	64
1341 Essex St	0.67mi	2/1.0	728 (+9%)	6mo	$178,000	$245	48

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: 28.8%
• Equity multiple: 2.24×
• Total profit: $22,614
• Equity at exit: $9,692

10-year hold

• IRR: 37.7%
• Equity multiple: 4.94×
• Total profit: $71,624
• Equity at exit: $5,620

Cash invested: $18,200 (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: 4.8×

Monthly cashflow live

• Estimated rent: $1,121 high
• Mortgage (P&I): −$341
• Tax from tax record: −$45 /mo · $540/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$235
• Net cashflow: $473

Break-even live

Break-even rent $523

Max offer price $65,000

Occupancy floor 53%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1120 N Ransom St Gastonia, NC	1.0	1.0	624	$1,175	$1.88	2d	1	0.13mi
1027 New Beginnings Ave Gastonia, NC	2.0	1.0	560	$995	$1.78	23d	1	0.23mi
1301 Sims Cir Unit D Gastonia, NC	1.0	1.0	702	$950	$1.35	12d	1	0.27mi
922 Dowd Dr Unit D Gastonia, NC	1.0	1.0	702	$950	$1.35	23d	1	0.31mi
310 Norment Ave Gastonia, NC	2.0	1.0	691	$995	$1.44	23d	1	0.72mi
1665 N Webb St Apt : H Gastonia, NC	2.0	1.0	674	$1,025	$1.52	23d	1	1.13mi
147 W Main Ave Gastonia, NC	3.0	1.0–2.0	1080	$1,950	$1.81	23d	8	1.31mi
408 S Weldon St Gastonia, NC	2.0	1.0	600	$900	$1.50	14d	1	1.32mi
416 S Weldon St Gastonia, NC	2.0	1.0	650	$900	$1.38	14d	1	1.34mi
402 N Broad St Gastonia, NC	1.0	1.0	600	$850	$1.42	17d	1	1.42mi
610 W 5th Ave Unit 12 Gastonia, NC	2.0	1.0	676	$950	$1.41	23d	1	1.45mi

Listing history 16 events

1. 2026-06-18
   days on market $65,000 Active 50 DOM
2. 2026-06-17
   days on market $65,000 Active 49 DOM
3. 2026-06-16
   days on market $65,000 Active 48 DOM
4. 2026-06-15
   days on market $65,000 Active 47 DOM
5. 2026-06-13
   days on market $65,000 Active 45 DOM
6. 2026-06-09
   days on market $65,000 Active 41 DOM
7. 2026-06-08
   days on market $65,000 Active 40 DOM
8. 2026-06-07
   days on market $65,000 Active 39 DOM
9. 2026-06-04
   days on market $65,000 Active 36 DOM
10. 2026-06-03
    days on market $65,000 Active 35 DOM
11. 2026-06-02
    days on market $65,000 Active 34 DOM
12. 2026-06-02
    price $65,000 Active 33 DOM
13. 2026-06-01
    days on market $75,000 Active 33 DOM
14. 2026-05-31
    days on market $75,000 Active 32 DOM
15. 2026-04-24
    listed $75,000 Active
16. 1989-10-01
    soldstatus $8,000

ⓘ 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: $540 · $45/mo
• Projected year-2 tax: $540 · $45/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 2/10 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: $13,453
• − Mortgage interest: −$3,641
• − Property taxes: −$540
• − Insurance: −$325
• − Repairs & maintenance: −$1,076
• − Management: −$1,076
• − Depreciation: −$1,891
• Taxable income: $4,904
• Est. tax owed @ 24.0%: −$1,177
• After-tax cash flow: $4,496/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

+837.5% since first listed

2 events — show timeline

• 2026-04-24 Listed $75,000 CANOPYMLS as Distributed by MLS Grid
• 1989-10-01 Sold (Public Records) $8,000 Public Records

Property tax history

+3.2%/yr

Latest (2025): $540 · +0.0% YoY. Source: county tax records.