111 E Carlton St · Dallas, NC 28034

$218,000

2 bd · 1.0 ba · 2,007 sqft · SingleFamily public records · 81 Days on market

Built 1930 0.40 ac lot Est $327k · 33% 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 +17.1/30.0
• ARV discount +15.0/15.0
• DSCR +5.3/10.0
• 1% rule +4.0/10.0
• 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 MLS

***no more showings allowed*** Large home with plenty of storage for under 200K! This home is conveniently located in Dallas on a corner lot with nearly a 1/2 acre. Lower level with Terra cotta floor and Private entrance not included in sqft but could easily be converted. Most of the windows replaced in 2017, roof 2014. Home is ready for new owners to update or just move in! Home is priced to sell quickly! ***Multiple offers - no more showings allowed***

Key facts

• Huge pantry
• Formal dining room
• Large kitchen

Tags

• FORMAL DINING ROOM
• HUGE PANTRY
• LARGE KITCHEN
• SCREENED PORCHES
• UPGRADED WINDOWS
• CORNER LOT

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway; 4 open parking spaces
• Utilities: City water; Public sewer
• Home design: Single family residence; Site-built construction; One story; Crawl space foundation; R1 zoning; Two or more access exits (accessibility)
• Construction: Vinyl exterior
• Exterior features: Rear porch; Side porch; Level lot; Concrete and paved road access; Publicly maintained road

Interior

• Kitchen: Double oven; Gas cooktop
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Pantry; Living room fireplace
• Laundry & utility: Laundry closet

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $218k.

Deal economics

• At list price, monthly cash flow is $153 ($2k/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 $195k (10.4% below list).
• Recommended offer: $195k (10.4% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 5.2% 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: amenities F, commute F, employment 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: Carr Elementary (math 39% / reading 31%, grade F, #825 of 1,410 statewide, top 59%, 633 students, 100% FRL); W C Friday Middle School (math 38% / reading 42%, grade F, #222 of 475 statewide, top 49%, 605 students, 74% FRL); North Gaston High (math 49% / reading 42%, grade D-, #347 of 535 statewide, top 65%, 1,134 students, 63% FRL) — zoned schools average 79% FRL vs 37% district-wide (42 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents falling (-5.5%/yr); 93 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 1d 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 38% 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 $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 81 days — a 6% lower offer ($205k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 10y ago 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 $180k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1930 — 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 $195,274 (10.4% below list)

Questions for the listing agent

1. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — 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. 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: 0.90% ✗
• Cap rate: 7.14%
• Cash-on-cash: 3.01%
• DSCR: 1.13
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $327,141
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
611 W Robinson St	0.45mi	3/2.0 (+1)	2,058 (+2%)	8mo	$280,000	$136	59
103 E Main St	0.51mi	3/3.0 (+1)	2,054 (+2%)	6mo	$259,000	$126	54
302 S Maple St	0.44mi	3/2.0 (+1)	1,800 (-10%)	2mo	$279,900	$156	52
205 S Maple St	0.49mi	3/2.0 (+1)	2,058 (+2%)	17mo	$280,000	$136	50
5136 Fireweed Ct	0.68mi	3/2.5 (+1)	2,164 (+8%)	9mo	$335,000	$155	37
5156 Fireweed Ct	0.63mi	3/2.5 (+1)	1,854 (-8%)	12mo	$316,799	$171	37
5050 Beargrass Dr	0.66mi	3/2.5 (+1)	2,164 (+8%)	12mo	$357,000	$165	36
5124 Fireweed Ct	0.71mi	3/2.5 (+1)	1,854 (-8%)	11mo	$309,000	$167	34
5055 Beargrass Dr	0.67mi	3/2.5 (+1)	2,175 (+8%)	14mo	$355,000	$163	32
2565 Meadow Crossing Dr	0.72mi	3/2.5 (+1)	1,878 (-6%)	15mo	$312,000	$166	32
5133 Fireweed Ct	0.70mi	3/2.5 (+1)	2,175 (+8%)	17mo	$345,000	$159	28
5023 Beargrass Dr	0.73mi	3/2.5 (+1)	1,854 (-8%)	17mo	$319,000	$172	28

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: -14.8%
• Equity multiple: 0.49×
• Total profit: $-31,345
• Equity at exit: $32,505

10-year hold

• IRR: -11.6%
• Equity multiple: 0.39×
• Total profit: $-37,034
• Equity at exit: $18,849

Cash invested: $61,040 (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: 93
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,953 medium
• Mortgage (P&I): −$1,143
• Tax from tax record: −$156 /mo · $1,867/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $153

Break-even live

Break-even rent $1,759

Max offer price $218,000

Occupancy floor 87%

Sensitivity live

Price	-10% $276	-5% $215	+0% $153	+5% $91	+10% $30
Rent	-10% $-1	-5% $76	+0% $153	+5% $230	+10% $307
Rate	-1.0pp $263	-0.5pp $208	base $153	+0.5pp $97	+1.0pp $39

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: $54,500
• Closing costs: $6,540
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5004 Broad Leaf Ct Dallas, NC	3.0	2.5	1828	$2,000	$1.09	0d	1	0.43mi
1004 Davis Hills Dr Dallas, NC	3.0	2.5	1690	$2,100	$1.24	25d	1	0.99mi
1301 Limestone Ct Dallas, NC	2.0–3.0	2.0	1393	$2,106	$1.51	0d	6	1.41mi
1814 Hart St Gastonia, NC	1.0	1.0	2800	$610	$0.22	0d	1	1.42mi
2900 Village Center Dr Dallas, NC	3.0	2.5	2007	$2,145	$1.07	12d	1	1.49mi

Listing history 28 events

1. 2026-06-21
   days on market $218,000 Active 81 DOM
2. 2026-06-18
   days on market $218,000 Active 78 DOM
3. 2026-06-17
   days on market $218,000 Active 77 DOM
4. 2026-06-16
   days on market $218,000 Active 76 DOM
5. 2026-06-15
   days on market $218,000 Active 75 DOM
6. 2026-06-13
   days on market $218,000 Active 73 DOM
7. 2026-06-09
   days on market $218,000 Active 69 DOM
8. 2026-06-08
   days on market $218,000 Active 68 DOM
9. 2026-06-07
   days on market $218,000 Active 67 DOM
10. 2026-06-04
    days on market $218,000 Active 64 DOM
11. 2026-06-03
    days on market $218,000 Active 63 DOM
12. 2026-06-02
    days on market $218,000 Active 62 DOM
13. 2026-06-01
    days on market $218,000 Active 61 DOM
14. 2026-05-31
    days on market $218,000 Active 60 DOM
15. 2026-05-22
    price $218,000
16. 2026-04-01
    listed $222,000 Active
17. 2022-03-01
    soldstatus $180,000
18. 2022-02-28
    soldstatus $180,000 Closed 466-char remark

    Show marketing remark (466 chars)

    ***no more showings allowed*** Large home with plenty of storage for under 200K! This home is conveniently located in Dallas on a corner lot with nearly a 1/2 acre. Lower level with Terra cotta floor and Private entrance not included in sqft but could easily be converted. Most of the windows replaced in 2017, roof 2014. Home is ready for new owners to update or just move in! Home is priced to sell quickly! ***Multiple offers - no more showings allowed***

19. 2022-01-25
    status Pending 466-char remark

    Show marketing remark (466 chars)

    ***no more showings allowed*** Large home with plenty of storage for under 200K! This home is conveniently located in Dallas on a corner lot with nearly a 1/2 acre. Lower level with Terra cotta floor and Private entrance not included in sqft but could easily be converted. Most of the windows replaced in 2017, roof 2014. Home is ready for new owners to update or just move in! Home is priced to sell quickly! ***Multiple offers - no more showings allowed***

20. 2022-01-19
    listed $180,000 Active 466-char remark

    Show marketing remark (466 chars)

    ***no more showings allowed*** Large home with plenty of storage for under 200K! This home is conveniently located in Dallas on a corner lot with nearly a 1/2 acre. Lower level with Terra cotta floor and Private entrance not included in sqft but could easily be converted. Most of the windows replaced in 2017, roof 2014. Home is ready for new owners to update or just move in! Home is priced to sell quickly! ***Multiple offers - no more showings allowed***

21. 2017-11-21
    soldstatus $80,000 Closed 511-char remark

    Show marketing remark (511 chars)

    Looking for space? This home has it! Conveniently located in Dallas and nestled on a corner lot w/nearly a 1/2 acre, this home offers room for any sized family. Electrical panel updated w/in last yr, new flooring & paint throughout, new energy-saver slider on screen porch, new roof 2015. Lower level w/ terra cotta floor & private entrance not included in sqft but can be converted into mo-in-law suite or other. In need of some updates, but great potential & space for the money! Motivated seller!

22. 2017-11-21
    soldstatus $80,000

    Show marketing remark (511 chars)

    Looking for space? This home has it! Conveniently located in Dallas and nestled on a corner lot w/nearly a 1/2 acre, this home offers room for any sized family. Electrical panel updated w/in last yr, new flooring & paint throughout, new energy-saver slider on screen porch, new roof 2015. Lower level w/ terra cotta floor & private entrance not included in sqft but can be converted into mo-in-law suite or other. In need of some updates, but great potential & space for the money! Motivated seller!

23. 2017-10-06
    historical Under Contract - Show 511-char remark

    Show marketing remark (511 chars)

    Looking for space? This home has it! Conveniently located in Dallas and nestled on a corner lot w/nearly a 1/2 acre, this home offers room for any sized family. Electrical panel updated w/in last yr, new flooring & paint throughout, new energy-saver slider on screen porch, new roof 2015. Lower level w/ terra cotta floor & private entrance not included in sqft but can be converted into mo-in-law suite or other. In need of some updates, but great potential & space for the money! Motivated seller!

24. 2017-08-02
    price $85,000 511-char remark

    Show marketing remark (511 chars)

    Looking for space? This home has it! Conveniently located in Dallas and nestled on a corner lot w/nearly a 1/2 acre, this home offers room for any sized family. Electrical panel updated w/in last yr, new flooring & paint throughout, new energy-saver slider on screen porch, new roof 2015. Lower level w/ terra cotta floor & private entrance not included in sqft but can be converted into mo-in-law suite or other. In need of some updates, but great potential & space for the money! Motivated seller!

25. 2017-06-23
    listed $90,000 Active 511-char remark

    Show marketing remark (511 chars)

    Looking for space? This home has it! Conveniently located in Dallas and nestled on a corner lot w/nearly a 1/2 acre, this home offers room for any sized family. Electrical panel updated w/in last yr, new flooring & paint throughout, new energy-saver slider on screen porch, new roof 2015. Lower level w/ terra cotta floor & private entrance not included in sqft but can be converted into mo-in-law suite or other. In need of some updates, but great potential & space for the money! Motivated seller!

26. 2017-01-03
    historical
27. 2016-10-14
    price $99,900
28. 2016-08-16
    listed $105,000 Active

ⓘ 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: $1,867 · $156/mo
• Projected year-2 tax: $1,867 · $156/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: $23,433
• − Mortgage interest: −$12,211
• − Property taxes: −$1,867
• − Insurance: −$1,090
• − Repairs & maintenance: −$1,875
• − Management: −$1,875
• − Depreciation: −$6,342
• Taxable loss: −$1,827
• Est. tax savings @ 24.0%: +$438
• After-tax cash flow: $2,275/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

+107.6% since first listed

14 events — show timeline

• 2026-05-22 Price Changed $218,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-01 Listed $222,000 CANOPYMLS as Distributed by MLS Grid
• 2022-03-01 Sold (Public Records) $180,000 Public Records
• 2022-02-28 Sold (MLS) $180,000 CANOPYMLS as Distributed by MLS Grid
• 2022-01-25 Pending — CANOPYMLS as Distributed by MLS Grid
• 2022-01-19 Listed $180,000 CANOPYMLS as Distributed by MLS Grid
• 2017-11-21 Sold (Public Records) $80,000 Public Records
• 2017-11-21 Sold (MLS) $80,000 CANOPYMLS as Distributed by MLS Grid
• 2017-10-06 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2017-08-02 Price Changed $85,000 CANOPYMLS as Distributed by MLS Grid
• 2017-06-23 Listed $90,000 CANOPYMLS as Distributed by MLS Grid
• 2017-01-03 Delisted — CANOPYMLS as Distributed by MLS Grid
• 2016-10-14 Price Changed $99,900 CANOPYMLS as Distributed by MLS Grid
• 2016-08-16 Listed $105,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+4.6%/yr

Latest (2025): $1,867 · +2.2% YoY. Source: county tax records.