421 S Ridge St · Dallas, NC 28034

$169,900

3 bd · 1.0 ba · 1,080 sqft · SingleFamily public records · 31 Days on market

Built 1960 Est $207k · 18% 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 +21.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.0/10.0
• 1% rule +5.3/10.0
• Schools +3.6/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Rent growth +1.1/5.0
• Appreciation +0.0/10.0

Listing remarks

Well-Maintained 3BR Home with Huge Outbuilding & acirc; & euro; & ldquo; just 25 minutes to Charlotte Perfect starter home or investment opportunity on a quiet side street. This home has been well cared for - it just needs your updating touches. ?? 421 S Ridge St, Dallas NC Sitting on a spacious 0.34-acre city lot with plenty of room to spread out. Home Features: 3 bedrooms 1 full bathroom 1,080 heated sq ft (built 1960) Natural gas central heat & amp; central air conditioning Enclosed rear porch This house is in great shape and just needs some cosmetic updates to make it shine. Clean, solid, and move-in ready with a little personal touch! Outdoor Highlights: Quiet, shad

Key facts

• Detached outbuilding
• Spacious city lot
• Enclosed rear porch

Tags

• HUGE OUTBUILDING
• SPACIOUS CITY LOT
• ENCLOSED REAR PORCH
• QUIET SHADED BACKYARD
• DETACHED OUTBUILDING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $266 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $165k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 5.3% in Dallas — 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 65/100 on livability (#299 in NC) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D, amenities F, commute 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.
• Market conditions: Rents falling (-5.5%/yr); 94 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 2,069 units permitted in Gaston County in 2024 (142 in 5+ unit buildings).
• This rent runs 34% of the median local income ($62k/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 $5k 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 31 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $90k; list at $170k implies a 89% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $164,803 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 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 1960 — 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: 1.03% ✓
• Cap rate: 8.17%
• Cash-on-cash: 6.72%
• DSCR: 1.30
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $207,360
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
405 S Pine St	0.13mi	3/2.0	1,081 (+0%)	18mo	$249,900	$231	75
507 S Maple St	0.10mi	2/1.0 (-1)	946 (-12%)	2mo	$166,000	$175	68
508 S Maple St	0.12mi	2/1.0 (-1)	1,043 (-3%)	21mo	$200,000	$192	66
504 W Church St	0.37mi	2/1.0 (-1)	1,133 (+5%)	4mo	$235,000	$207	66
406 S Gaston St	0.27mi	2/1.0 (-1)	1,175 (+9%)	12mo	$205,000	$174	57
911 Briarwood Dr	0.62mi	3/2.0	1,073 (-1%)	11mo	$205,000	$191	57
510 S Hoyle St	0.55mi	3/2.0	1,040 (-4%)	15mo	$135,000	$130	52
515 E Holly St	0.64mi	3/1.0	1,040 (-4%)	15mo	$235,000	$226	51
308 Graham Dr	0.54mi	2/1.0 (-1)	990 (-8%)	8mo	$205,000	$207	50
204 Robinson Clemmer Rd	0.54mi	2/1.0 (-1)	960 (-11%)	4mo	$135,000	$141	48
507 S College St	0.30mi	2/1.0 (-1)	939 (-13%)	16mo	$179,900	$192	46
414 E Church St	0.62mi	3/2.0	928 (-14%)	6mo	$200,000	$216	38

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -9.3%
• Equity multiple: 0.67×
• Total profit: $-15,710
• Equity at exit: $25,333

10-year hold

• IRR: -4.3%
• Equity multiple: 0.75×
• Total profit: $-11,699
• Equity at exit: $14,690

Cash invested: $47,572 (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 28034

• Home prices YoY: -24.6%
• Rents YoY: -5.5%
• Active inventory: 94
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,750 high
• Mortgage (P&I): −$891
• Tax from tax record: −$154 /mo · $1,853/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$367
• Net cashflow: $266

Break-even live

Break-even rent $1,413

Max offer price $169,900

Occupancy floor 80%

Sensitivity live

Price	-10% $362	-5% $314	+0% $266	+5% $218	+10% $170
Rent	-10% $128	-5% $197	+0% $266	+5% $335	+10% $405
Rate	-1.0pp $352	-0.5pp $309	base $266	+0.5pp $222	+1.0pp $177

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
308 North St Dallas, NC	3.0	1.0	1053	$1,325	$1.26	22d	1	0.64mi
303 E Ingle St Dallas, NC	3.0	1.5	1000	$1,450	$1.45	22d	1	0.72mi
405 S Starr St Unit B Dallas, NC	2.0	2.0	998	$1,510	$1.51	24d	1	0.78mi
500 Chapman Pointe Cir Dallas, NC	2.0	2.0	950	$1,618	$1.70	2d	3	0.84mi
6008 Bradford Ct Dallas, NC	3.0	2.0	1160	$1,719	$1.48	24d	1	0.92mi
110 Stillwell St Dallas, NC	3.0	1.5	1010	$1,705	$1.69	5d	1	0.95mi
5703 Erin Dr Dallas, NC	2.0	2.5	1111	$1,565	$1.41	13d	1	0.99mi
1301 Limestone Ct Dallas, NC	3.0	2.0	1433	$2,218	$1.55	2d	5	1.09mi
119 Evans Lake Rd Dallas, NC	2.0	1.0	900	$1,185	$1.32	2d	2	1.27mi

Listing history 14 events

1. 2026-06-16
   status $169,900 Under Contract 31 DOM
2. 2026-06-15
   days on market $169,900 Active 31 DOM
3. 2026-06-13
   days on market $169,900 Active 29 DOM
4. 2026-06-09
   days on market $169,900 Active 25 DOM
5. 2026-06-08
   days on market $169,900 Active 24 DOM
6. 2026-06-07
   days on market $169,900 Active 23 DOM
7. 2026-06-04
   days on market $169,900 Active 20 DOM
8. 2026-06-03
   days on market $169,900 Active 19 DOM
9. 2026-06-02
   days on market $169,900 Active 18 DOM
10. 2026-06-01
    days on market $169,900 Active 17 DOM
11. 2026-05-31
    days on market $169,900 Active 16 DOM
12. 2026-05-16
    listed $169,900 Active
13. 2026-05-08
    soldstatus $90,000
14. 2008-07-30
    soldstatus $55,000

ⓘ 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: $1,853 · $154/mo
• Projected year-2 tax: $1,853 · $154/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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥104°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: $20,999
• − Mortgage interest: −$9,517
• − Property taxes: −$1,853
• − Insurance: −$850
• − Repairs & maintenance: −$1,680
• − Management: −$1,680
• − Depreciation: −$4,943
• Taxable income: $477
• Est. tax owed @ 24.0%: −$115
• After-tax cash flow: $3,081/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 — Dallas

• Score: 65/100
• State rank: #299
• US rank: #12509

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dallas, NC
• County: Gaston County · 201,497 people
• City population: 18,979
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 18,979
• Household income: $62,083
• Rent vs Own: 25.4% rent · 74.6% own
• Severe rent burden: 383.0

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 (69%)
• Race & ethnicity: White 69% Black 16% Hispanic / Latino 9% Two or more races 6% Native American 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Slovak 2% Serbian 2% Italian 1%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 94% English-only · Spanish 5%

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: ▼ -78.58%
• Current HPI: 241.4021
• Rent YoY: ▼ -5.47%
• 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

+208.9% since first listed

3 events — show timeline

• 2026-05-16 Listed $169,900 FSBO.com
• 2026-05-08 Sold (Public Records) $90,000 Public Records
• 2008-07-30 Sold (Public Records) $55,000 Public Records

Property tax history

+5.7%/yr

Latest (2025): $1,853 · -1.1% YoY. Source: county tax records.