509 1/2 8th Avenue Ext · Cramerton, NC 28032

$150,000

3 bd · 1.0 ba · 1,019 sqft · SingleFamily · 14 Days on market

Built 1993 Poor condition 0.34 ac lot Est $218k · 31% under ↓ 29% since listing

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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 +24.0/30.0
• ARV discount +15.0/15.0
• DSCR +7.7/10.0
• 1% rule +6.2/10.0
• Livability +3.9/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Investors, take a look. Motivated Seller. Bring an offer. Home sold as is.

Key facts

• 0.34 acre lot
• Built 1993
• Listed 14 days

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: Well water; Septic system installed
• Home design: Single-family residential home; Site-built construction; Vinyl exterior; One story
• Construction: Site-built construction with vinyl siding; Crawl space foundation
• Exterior features: Private-maintained concrete/paved road

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Heat pump
• Interior features: 7 total rooms; Heat pump for heating and cooling; Crawl space foundation; One-level living
• Laundry & utility: Laundry located on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $293 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 8.6% vs local median 3.5% in Cramerton — 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 77/100 on livability (#28 in NC, #2,789 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: 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: 60 active listings in the ZIP; 6 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 33% of the median local income ($61k/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 $4k 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

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• 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 $150,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.12% ✓
• Cap rate: 8.64%
• Cash-on-cash: 8.38%
• DSCR: 1.37
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $218,066
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
509 1/2 8th Avenue Ext	0.00mi	3/1.0	1,019 (0%)	1mo	$130,000	$128	99
335 Mayflower Ave	0.36mi	2/1.0 (-1)	966 (-5%)	1mo	$254,000	$263	69
401 Woodlawn Ave	0.46mi	2/2.0 (-1)	1,004 (-2%)	9mo	$264,000	$263	60
399 Woodlawn Ave	0.47mi	2/1.0 (-1)	1,099 (+8%)	3mo	$235,000	$214	58
408 Woodlawn Ave	0.41mi	2/1.0 (-1)	1,162 (+14%)	0mo	$230,000	$198	52
331 Mayflower Ave	0.41mi	2/2.0 (-1)	966 (-5%)	19mo	$225,900	$234	47
325 Mayflower Ave	0.50mi	2/2.0 (-1)	1,067 (+5%)	17mo	$255,000	$239	46
313 Mayflower Ave	0.66mi	2/1.0 (-1)	1,100 (+8%)	7mo	$215,000	$195	45
516 Washington St	0.64mi	2/1.0 (-1)	960 (-6%)	14mo	$199,000	$207	44
380 Woodlawn Ave	0.59mi	2/1.0 (-1)	1,157 (+14%)	3mo	$233,000	$201	42
125 Ashe St	0.39mi	2/2.0 (-1)	869 (-15%)	11mo	$215,000	$247	39
504 Washington St	0.71mi	2/1.0 (-1)	939 (-8%)	15mo	$200,500	$214	37

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -3.6%
• Equity multiple: 0.87×
• Total profit: $-5,601
• Equity at exit: $22,365

10-year hold

• IRR: 6.2%
• Equity multiple: 1.46×
• Total profit: $19,279
• Equity at exit: $12,969

Cash invested: $42,000 (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 28032

• Active inventory: 60
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,683 high
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$188 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$354
• Net cashflow: $293

Break-even live

Break-even rent $1,312

Max offer price $150,000

Occupancy floor 78%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1654 Lowell Bethesda Rd Gastonia, NC	2.0	2.0	1000	$1,495	$1.50	23d	1	0.53mi
1654 Lowell Bethesda Rd Gastonia, NC	2.0	2.0	1000	$1,495	$1.50	3d	1	0.53mi
236 8th Ave Cramerton, NC	1.0–2.0	1.0–2.0	849	$1,404	$1.65	23d	1	0.93mi
2000 Hampton Meadows Ln Unit 2111HML Cramerton, NC	3.0	2.0	1075	$1,350	$1.26	23d	1	1.28mi
1001 Haven Cir Belmont, NC	1.0–3.0	1.0–2.0	1115	$1,965	$1.76	2d	12	1.43mi
814 King Arthur Dr Gastonia, NC	3.0	2.0	960	$1,795	$1.87	23d	1	1.45mi

Listing history 5 events

1. 2026-04-24
   status Pending
2. 2026-04-20
   price $150,000
3. 2026-04-11
   price $190,000
4. 2026-04-10
   listed $210,000 Active
5. 2026-04-08
   historical $210,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 22% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,201
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$1,616
• − Management: −$1,616
• − Depreciation: −$4,364
• Taxable income: $1,203
• Est. tax owed @ 24.0%: −$289
• After-tax cash flow: $3,231/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.

Condition & rehab AI · 1 photo

Poor 20/100 Extensive rehab

This home requires extensive repairs and maintenance, including a new roof and landscaping, to become move-in ready.

Repairs flagged

• Major roof — Missing shingles
• Major exterior — Overgrown yard, damaged fence
• Major porch floor — Worn-out and damaged
• Major interior walls — Paint peeling

Value-add opportunities

• Both Landscaping and yard cleanup — Improves curb appeal and value
• Both New roof — Essential for structural integrity and value
• Both Porch floor replacement — Enhances safety and aesthetics
• Both Interior wall repairs and painting — Enhances home's appearance and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Missing shingles	Major	$15,000–50,000
exterior · Overgrown yard, damaged fence	Major	$15,000–50,000
porch floor · Worn-out and damaged	Major	$15,000–50,000
interior walls · Paint peeling	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both Landscaping and yard cleanup — Improves curb appeal and value ↑
• Both New roof — Essential for structural integrity and value ↑
• Both Porch floor replacement — Enhances safety and aesthetics ↑
• Both Interior wall repairs and painting — Enhances home's appearance and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Cramerton

• Score: 77/100
• State rank: #28
• US rank: #2789

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Gaston County · 201,497 people
• City population: 2,869
• Metro: Charlotte-Concord-Gastonia, NC-SC
• Population (ZIP): 2,869
• Household income: $60,924
• Rent vs Own: 26.5% rent · 73.5% own
• Severe rent burden: 73.0

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 (83%)
• Race & ethnicity: White 83% Black 8% Hispanic / Latino 3% Two or more races 2% Asian 1%
• Common ancestry: Iranian 3% Lithuanian 3% Italian 3%
• Foreign-born: 5% · China, Canada
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% Chinese 1%

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: ▼ -140.82%
• Current HPI: 244.7087
• Rent YoY: —
• 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

-28.6% since first listed

5 events — show timeline

• 2026-04-24 Pending — CANOPYMLS as Distributed by MLS Grid
• 2026-04-20 Price Changed $150,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-11 Price Changed $190,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-10 Listed $210,000 CANOPYMLS as Distributed by MLS Grid
• 2026-04-08 Coming Soon $210,000 CANOPYMLS as Distributed by MLS Grid