1113 W 4th Ave · Gastonia, NC 28052

$189,900

3 bd · 2.0 ba · 1,270 sqft · SingleFamily public records · 47 Days on market

Built 1914 6,098 sqft lot Est $248k · 23% under

---

Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +13.8/30.0
• DSCR +4.2/10.0
• Rent growth +3.9/5.0
• Schools +3.6/10.0
• 1% rule +3.2/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor Opportunity in Desirable and historic Loray Mill/ Fuse district! Don’t miss this well-maintained mill house tucked away in a quiet neighborhood just behind the highly sought-after Loray Mill district. This 3-bedroom, 2-bath home blends classic charm with some more modern updates, making it an excellent addition to any investment portfolio. The property features updated vinyl plank flooring throughout and has been very well cared for. Even better—this home is already income-producing with a one-year lease in place through April 2027, generating $1,550 per month in rental income. Additional highlights include an extended concrete driveway, covered carport, and an HVAC sy

Key facts

• 6,098 sq ft lot
• Parking
• Built 1914

Property features AI

Finance

• Other: No representation restriction noted
• HOA & community: No HOA; Not subject to HOA dues

Exterior

• Parking: Detached carport (1 space); Driveway
• Utilities: City water; Public sewer
• Home design: Single family residence; Site-built construction; One story; Zoned RS8
• Construction: Vinyl exterior; Composition roof; Crawl space foundation; Built on site
• Exterior features: Covered front porch; Full chain-link fencing; Level lot; Concrete and paved road access (publicly maintained)

Interior

• Kitchen: Electric oven; Electric range; Refrigerator
• Bedrooms: 3 bedrooms on the main level
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating (natural gas); Central electric air conditioning
• Interior features: Storm windows; 8 total rooms
• Laundry & utility: Laundry room with electric dryer hookup; Electric water heater

🏷️ Possibly a rental listed for sale. The $189,900 price doesn't fit this home's estimated sale value (~$247,650) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $18 ($216/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 $156k (17.7% below list).
• Recommended offer: $156k (17.7% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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); York Chester Middle (math 27% / reading 24%, grade F, #388 of 475 statewide, top 83%, 431 students, 98% FRL); Hunter Huss High (math 37% / reading 38%, grade F, #411 of 535 statewide, top 77%, 1,120 students, 80% FRL) — zoned schools average 93% FRL vs 37% district-wide (56 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.6%/yr); 352 active listings in the ZIP; 26 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 38% 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 $6k 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 47 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $99k; list at $190k implies a 92% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1914 — 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 $156,350 (17.7% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
2. Built in 1914 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.82% ✗
• Cap rate: 6.41%
• Cash-on-cash: 0.41%
• DSCR: 1.02
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $247,650
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
304 Linwood Rd	0.43mi	3/2.0	1,255 (-1%)	1mo	$250,000	$199	77
902 W 6th Ave	0.30mi	3/2.0	1,344 (+6%)	1mo	$250,000	$186	76
410 S Hill St	0.31mi	3/2.0	1,200 (-6%)	1mo	$250,000	$208	76
809 Miller St	0.48mi	3/2.0	1,272 (+0%)	4mo	$248,000	$195	74
210 N Vance St	0.42mi	3/2.0	1,200 (-6%)	1mo	$245,000	$204	70
406 N Boyd St	0.62mi	3/2.0	1,237 (-3%)	4mo	$265,000	$214	64
321 S Weldon St	0.22mi	3/1.0	1,092 (-14%)	2mo	$205,000	$188	61
1517 W Walnut Ave	0.73mi	3/1.0	1,218 (-4%)	0mo	$82,400	$68	55
924 Springdale Ln	0.66mi	3/2.0	1,380 (+9%)	5mo	$285,000	$207	50
402 N Myrtle St	0.68mi	3/2.5	1,394 (+10%)	2mo	$271,000	$194	48
829 Jackson St	0.61mi	2/1.0 (-1)	1,107 (-13%)	4mo	$137,000	$124	38
1040 East Dr	0.73mi	2/1.0 (-1)	1,100 (-13%)	1mo	$115,000	$105	34

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: -13.0%
• Equity multiple: 0.52×
• Total profit: $-25,414
• Equity at exit: $28,315

10-year hold

• IRR: -0.6%
• Equity multiple: 0.95×
• Total profit: $-2,405
• Equity at exit: $16,419

Cash invested: $53,172 (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: 352
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,564 high
• Mortgage (P&I): −$996
• Tax from tax record: −$142 /mo · $1,706/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $18

Break-even live

Break-even rent $1,541

Max offer price $189,900

Occupancy floor 94%

Sensitivity live

Price	-10% $126	-5% $72	+0% $18	+5% $-36	+10% $-89
Rent	-10% $-106	-5% $-44	+0% $18	+5% $80	+10% $142
Rate	-1.0pp $114	-0.5pp $66	base $18	+0.5pp $-31	+1.0pp $-81

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
315 S Ransom St Gastonia, NC	3.0	1.0	1012	$1,399	$1.38	17d	1	0.17mi
300 S Firestone St Gastonia, NC	2.0	2.0	1488	$1,825	$1.23	13d	1	0.22mi
903 W 6th Avenue B Gastonia, NC	2.0	1.0	1111	$1,450	$1.31	22d	1	0.23mi
105 Summit St Gastonia, NC	2.0	1.0	894	$995	$1.11	20d	1	0.35mi
112 Miller St Gastonia, NC	3.0	1.0	950	$1,395	$1.47	0d	1	0.38mi
112 Miller St Gastonia, NC	3.0	1.0	950	$1,395	$1.47	26d	1	0.38mi
106 S Dalton St Gastonia, NC	3.0	2.0	1395	$1,550	$1.11	24d	1	0.40mi
112 Dean St Gastonia, NC	2.0	2.0	882	$1,400	$1.59	26d	1	0.40mi
407 S Chester St Gastonia, NC	2.0	1.5	1060	$1,262	$1.19	5d	2	0.66mi
412 N Scruggs St Gastonia, NC	3.0	2.5	1338	$1,695	$1.27	26d	1	0.67mi
1216 Jackson Rd Gastonia, NC	3.0	2.0	1254	$1,825	$1.46	26d	1	0.74mi
1731 Parkdale Ave Gastonia, NC	3.0	2.0	1159	$1,475	$1.27	14d	1	0.80mi
904 Neil St Gastonia, NC	3.0	1.0	1400	$1,100	$0.79	0d	1	0.85mi
710 Neil St Gastonia, NC	3.0	2.5	1505	$1,675	$1.11	17d	1	0.87mi
511 S South St Gastonia, NC	2.0	1.0	950	$1,195	$1.26	26d	1	0.90mi
604 Westwood Cir Gastonia, NC	2.0	1.0	886	$1,450	$1.64	0d	1	0.90mi
401 N Highland St Gastonia, NC	2.0	2.0	944	$1,471	$1.56	6d	1	0.92mi
508 Pryor St Gastonia, NC	3.0	1.0	1076	$1,350	$1.25	26d	1	1.06mi
147 W Main Ave Gastonia, NC	3.0	1.0–2.0	1080	$2,250	$2.08	26d	8	1.06mi
141 W Main Ave Gastonia, NC	2.0	1.5	1200	$1,599	$1.33	26d	1	1.08mi
817 W Davidson Ave Gastonia, NC	3.0	2.0	1244	$1,600	$1.29	26d	1	1.08mi
1608 James St Gastonia, NC	3.0	2.0	1416	$2,000	$1.41	5d	1	1.15mi
807 N Morris St Gastonia, NC	3.0	1.0	1196	$1,350	$1.13	26d	1	1.20mi
1502 Cloverdale Ln Gastonia, NC	3.0	1.5	1368	$1,599	$1.17	18d	1	1.22mi
208 Graham St Gastonia, NC	3.0	2.0	1315	$1,800	$1.37	26d	1	1.22mi
118 W Harrison Ave Gastonia, NC	2.0	1.0	1500	$1,295	$0.86	26d	1	1.40mi

Listing history 22 events

1. 2026-06-21
   days on market $189,900 Active 47 DOM
2. 2026-06-18
   days on market $189,900 Active 44 DOM
3. 2026-06-17
   days on market $189,900 Active 43 DOM
4. 2026-06-16
   days on market $189,900 Active 42 DOM
5. 2026-06-15
   days on market $189,900 Active 41 DOM
6. 2026-06-13
   days on market $189,900 Active 39 DOM
7. 2026-06-09
   days on market $189,900 Active 35 DOM
8. 2026-06-08
   days on market $189,900 Active 34 DOM
9. 2026-06-07
   days on market $189,900 Active 33 DOM
10. 2026-06-04
    days on market $189,900 Active 30 DOM
11. 2026-06-03
    days on market $189,900 Active 29 DOM
12. 2026-06-02
    days on market $189,900 Active 28 DOM
13. 2026-06-01
    days on market $189,900 Active 27 DOM
14. 2026-05-31
    days on market $189,900 Active 26 DOM
15. 2026-05-05
    listed $189,900 Active
16. 2026-03-28
    historical $1,550
17. 2026-02-20
    listed $1,550
18. 2025-12-23
    status Pending
19. 2025-11-18
    status Active
20. 2025-07-25
    status Pending
21. 2025-06-23
    listed $189,500 Active
22. 2020-02-25
    soldstatus $99,000

ⓘ 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: $1,706 · $142/mo
• Projected year-2 tax: $1,706 · $142/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 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: $18,762
• − Mortgage interest: −$10,637
• − Property taxes: −$1,706
• − Insurance: −$950
• − Repairs & maintenance: −$1,501
• − Management: −$1,501
• − Depreciation: −$5,524
• Taxable loss: −$3,057
• Est. tax savings @ 24.0%: +$734
• After-tax cash flow: $950/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

+91.8% since first listed

8 events — show timeline

• 2026-05-05 Listed $189,900 CANOPYMLS as Distributed by MLS Grid
• 2026-03-28 Rental Removed $1,550 APPFOLIO
• 2026-02-20 Listed for Rent $1,550 APPFOLIO
• 2025-12-23 Pending — CANOPYMLS as Distributed by MLS Grid
• 2025-11-18 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2025-07-25 Pending — CANOPYMLS as Distributed by MLS Grid
• 2025-06-23 Listed $189,500 CANOPYMLS as Distributed by MLS Grid
• 2020-02-25 Sold (Public Records) $99,000 Public Records

Property tax history

+15.1%/yr

Latest (2025): $1,706 · +0.0% YoY. Source: county tax records.