208 S Myrtle School Rd · Gastonia, NC 28052

$220,000

4 bd · 2.0 ba · 2,356 sqft · SingleFamily public records · 86 Days on market

Built 1917 0.52 ac lot Est $349k · 37% under ↓ 12% since listing

---

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 +13.7/30.0
• DSCR +4.1/10.0
• Rent growth +3.9/5.0
• Schools +3.6/10.0
• 1% rule +3.4/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor & Development Opportunity on Nearly Half an Acre in Gastonia! Situated on a high-visibility corridor, this 1917-built property presents a unique opportunity for investors, builders, or buyers seeking a value-add project with multiple potential exit strategies. The existing home offers a solid structure with over 2,300 square feet, ready for a full renovation or repositioning. Given its location and layout, the property may be best suited for redevelopment, investment, or alternative use rather than a traditional primary residence. The nearly 0.5-acre lot provides additional upside, with potential for subdivision or redevelopment (buyer to verify with local municipality). T

Key facts

• 0.52 acre lot
• Built 1917
• Listed 85 days

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: No garage; No designated parking features
• Utilities: City water; Public sewer; Cable available; Electric service connected
• Home design: Single family residence; Residential property; Two levels; Basement foundation; Site-built construction
• Construction: Wood construction
• Exterior features: Covered front porch; Corner lot; Wooded lot; Road access via dirt and concrete; Publicly maintained road

Interior

• Kitchen: Other appliances included
• Bedrooms: 4 bedrooms on upper level
• Flooring: Carpet; Wood
• Bathrooms: 2 full bathrooms; 1 half bathroom (main level)
• Heating & cooling: Central heating; Space heater; Window air conditioning units
• Interior features: 9 total rooms; Unfinished basement; Living room fireplace
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $14 ($171/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 $184k (16.5% below list).
• Recommended offer: $184k (16.5% 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); Hunter Huss High (math 37% / reading 38%, grade F, #411 of 535 statewide, top 77%, 1,120 students, 80% FRL) — zoned schools average 90% FRL vs 37% district-wide (53 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; 1 comparable units currently listed for rent nearby; 2,069 units permitted in Gaston County in 2024 (142 in 5+ unit buildings).
• This rent runs 44% 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 $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 86 days — a 6% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 19% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1917 — 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 $183,806 (16.5% below list)

Questions for the listing agent

1. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Built in 1917 — 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. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.84% ✗
• Cap rate: 6.37%
• Cash-on-cash: 0.28%
• DSCR: 1.01
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $348,688
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2041 Simmons St	0.26mi	4/2.5	2,362 (+0%)	17mo	$350,000	$148	71
2230 W 6th Ave	0.54mi	4/2.0	2,366 (+0%)	13mo	$346,000	$146	63
507 Bearbrook Ln	0.49mi	4/3.0	2,369 (+1%)	15mo	$400,000	$169	60

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: -13.1%
• Equity multiple: 0.52×
• Total profit: $-29,776
• Equity at exit: $32,803

10-year hold

• IRR: -0.7%
• Equity multiple: 0.95×
• Total profit: $-3,237
• Equity at exit: $19,022

Cash invested: $61,600 (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: 10.0×

Monthly cashflow live

• Estimated rent: $1,838 medium
• Mortgage (P&I): −$1,154
• Tax from tax record: −$192 /mo · $2,310/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$386
• Net cashflow: $14

Break-even live

Break-even rent $1,820

Max offer price $220,000

Occupancy floor 94%

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1425 Logan Patrick Ct Gastonia, NC	3.0	2.5	2052	$2,055	$1.00	3d	1	0.67mi

Listing history 18 events

1. 2026-06-18
   days on market $220,000 Active 86 DOM
2. 2026-06-17
   days on market $220,000 Active 85 DOM
3. 2026-06-16
   days on market $220,000 Active 84 DOM
4. 2026-06-15
   days on market $220,000 Active 83 DOM
5. 2026-06-13
   days on market $220,000 Active 81 DOM
6. 2026-06-09
   days on market $220,000 Active 77 DOM
7. 2026-06-08
   days on market $220,000 Active 76 DOM
8. 2026-06-07
   days on market $220,000 Active 75 DOM
9. 2026-06-04
   days on market $220,000 Active 72 DOM
10. 2026-06-03
    days on market $220,000 Active 71 DOM
11. 2026-06-02
    days on market $220,000 Active 70 DOM
12. 2026-06-01
    days on market $220,000 Active 69 DOM
13. 2026-05-31
    days on market $220,000 Active 68 DOM
14. 2026-04-09
    price $220,000
15. 2026-03-25
    listed $185,000 Active
16. 2026-03-18
    historical $185,000
17. 2025-10-21
    listed $250,000 Active
18. 2025-10-17
    historical

ⓘ 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: $2,310 · $192/mo
• Projected year-2 tax: $2,310 · $192/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 3/10 Moderate
• 🌡 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: $22,057
• − Mortgage interest: −$12,323
• − Property taxes: −$2,310
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,765
• − Management: −$1,765
• − Depreciation: −$6,400
• Taxable loss: −$3,606
• Est. tax savings @ 24.0%: +$865
• After-tax cash flow: $1,036/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

-12.0% since first listed

5 events — show timeline

• 2026-04-09 Price Changed $220,000 CANOPYMLS as Distributed by MLS Grid
• 2026-03-25 Listed $185,000 CANOPYMLS as Distributed by MLS Grid
• 2026-03-18 Coming Soon $185,000 CANOPYMLS as Distributed by MLS Grid
• 2025-10-21 Listed $250,000 CANOPYMLS as Distributed by MLS Grid
• 2025-10-17 Coming Soon — CANOPYMLS as Distributed by MLS Grid

Property tax history

+7.5%/yr

Latest (2025): $2,310 · +0.0% YoY. Source: county tax records.