409 W Norment Ave · Gastonia, NC 28052

$149,900

2 bd · 2.0 ba · 841 sqft · SingleFamily public records · 76 Days on market

Built 1925 4,791 sqft lot Est $161k · 7% under

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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).

• Cash flow +14.9/30.0
• ARV discount +10.7/15.0
• DSCR +4.6/10.0
• Rent growth +3.9/5.0
• Schools +3.6/10.0
• 1% rule +3.3/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming and well-maintained home in the heart of Gastonia, offering a blend of character and modern updates. Features a bright, inviting layout with spacious living areas, a functional kitchen with ample cabinetry, and comfortable bedrooms. Enjoy a versatile outdoor space perfect for relaxing or entertaining. Conveniently located near downtown, dining, shopping, and major highways. Great opportunity for homeowners or investors—don’t miss it!

Key facts

• 4,791 sq ft lot
• Built 1925
• Listed 76 days

Property features AI

Finance

• Other: Zoned R1H
• HOA & community: No HOA

Exterior

• Parking: Driveway
• Utilities: City water; Public sewer
• Home design: Single-family residence; One level; Residential property, site-built construction
• Construction: Vinyl exterior; Crawl space foundation
• Exterior features: Gravel and paved road access; Publicly maintained road

Interior

• Bedrooms: 2 bedrooms (both on the main level)
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Electric water heater; 4 total rooms
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $45 ($537/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 $125k (16.6% below list).
• Recommended offer: $125k (16.6% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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: Woodhill Elementary (math 13% / reading 15%, grade F, #1,351 of 1,410 statewide, top 96%, 462 students, 99% FRL); W P Grier Middle School (math 24% / reading 26%, grade F, #396 of 475 statewide, top 84%, 610 students, 100% FRL); Ashbrook High (math 57% / reading 46%, grade D+, #299 of 535 statewide, top 56%, 1,303 students, 72% FRL) — zoned schools average 90% FRL vs 37% district-wide (54 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 30% at this address vs 43% district-wide (-13 pts) — the specific schools serving this property underperform the Gaston County Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+5.6%/yr); 352 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 2,069 units permitted in Gaston County in 2024 (142 in 5+ unit buildings).

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

• It's been on market 76 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 4y 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 $110k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $125,073 (16.6% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — 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: 0.83% ✗
• Cap rate: 6.65%
• Cash-on-cash: 1.28%
• DSCR: 1.06
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $161,472
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
410 W Davidson Ave	0.09mi	3/1.0 (+1)	876 (+4%)	17mo	$139,000	$159	66
624 Windy Hill Dr	0.34mi	2/1.0	805 (-4%)	15mo	$165,000	$205	60
1001 N Ransom St	0.62mi	2/1.0	863 (+3%)	4mo	$1,600,000	$1,854	59
1406 Caldwell St	0.23mi	2/1.5	716 (-15%)	10mo	$175,000	$244	54
1206 N Boyce St	0.16mi	3/2.0 (+1)	944 (+12%)	17mo	$142,000	$150	53
815 Mauney Ave	0.61mi	2/1.0	836 (-1%)	20mo	$161,500	$193	50
819 W Rankin Ave	0.68mi	2/1.0	894 (+6%)	11mo	$150,000	$168	44
914 Hanover St	0.45mi	3/1.0 (+1)	960 (+14%)	2mo	$139,000	$145	44
621 Moran St	0.27mi	2/1.0	720 (-14%)	22mo	$138,000	$192	42
1221 N Ransom St	0.63mi	2/1.0	750 (-11%)	9mo	$170,000	$227	41
613 Moran St	0.29mi	2/1.0	720 (-14%)	22mo	$138,000	$192	40
1047 Sycamore Ave	0.72mi	2/1.0	721 (-14%)	21mo	$120,000	$166	21

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: -11.6%
• Equity multiple: 0.57×
• Total profit: $-18,079
• Equity at exit: $22,351

10-year hold

• IRR: 0.8%
• Equity multiple: 1.06×
• Total profit: $2,486
• Equity at exit: $12,961

Cash invested: $41,972 (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: 10.0×

Monthly cashflow live

• Estimated rent: $1,251 high
• Mortgage (P&I): −$786
• Tax from tax record: −$95 /mo · $1,137/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $45

Break-even live

Break-even rent $1,194

Max offer price $149,900

Occupancy floor 91%

Sensitivity live

Price	-10% $130	-5% $87	+0% $45	+5% $2	+10% $-40
Rent	-10% $-54	-5% $-5	+0% $45	+5% $94	+10% $144
Rate	-1.0pp $120	-0.5pp $83	base $45	+0.5pp $6	+1.0pp $-34

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
310 Norment Ave Gastonia, NC	2.0	1.0	691	$995	$1.44	25d	1	0.06mi
1201 N York St Gastonia, NC	2.0	1.0	860	$1,300	$1.51	25d	1	0.08mi
508 Allison Ave Gastonia, NC	2.0	1.0	770	$1,075	$1.40	4d	1	0.21mi
508 Pryor St Gastonia, NC	3.0	1.0	1076	$1,350	$1.25	25d	1	0.36mi
401 N Highland St Gastonia, NC	2.0	2.0	944	$1,471	$1.56	6d	1	0.52mi
901 N Weldon St Gastonia, NC	3.0	1.0	858	$1,200	$1.40	16d	1	0.55mi
1120 N Ransom St Gastonia, NC	1.0	1.0	624	$1,175	$1.88	4d	1	0.60mi
1109 N Ransom St Unit 1105 Gastonia, NC	3.0	1.0	850	$1,100	$1.29	25d	1	0.62mi
1262 Baugh St Unit C Gastonia, NC	3.0	1.5	978	$1,300	$1.33	25d	1	0.64mi
922 Dowd Dr Unit D Gastonia, NC	1.0	1.0	702	$950	$1.35	25d	1	0.69mi
1017 Sims Cir Unit B Gastonia, NC	2.0	1.0	842	$1,250	$1.48	0d	1	0.69mi
1301 Sims Cir Unit D Gastonia, NC	1.0	1.0	702	$950	$1.35	14d	1	0.71mi
1018 Sims Cir Gastonia, NC	3.0	1.0	978	$1,275	$1.30	25d	1	0.71mi
1027 New Beginnings Ave Gastonia, NC	2.0	1.0	560	$995	$1.78	25d	1	0.73mi
402 N Broad St Gastonia, NC	1.0	1.0	600	$850	$1.42	19d	1	0.74mi
1321 Sims Cir Unit B Gastonia, NC	2.0	1.0	842	$1,250	$1.48	12d	1	0.74mi
612 W Main Ave Gastonia, NC	1.0	1.0	810	$1,500	$1.85	4d	1	0.74mi
612 W Main Ave Gastonia, NC	1.0	1.0	777	$1,551	$2.00	25d	1	0.74mi
1100 Sims Cir Unit C Gastonia, NC	2.0	1.0	842	$1,250	$1.48	25d	1	0.75mi
147 W Main Ave Gastonia, NC	3.0	1.0–2.0	1080	$1,950	$1.81	25d	8	0.77mi
604 Westwood Cir Gastonia, NC	2.0	1.0	886	$1,450	$1.64	0d	1	0.85mi
710 Glenn St Gastonia, NC	2.0	1.0	800	$1,125	$1.41	25d	1	0.89mi
609 N Rhyne St Gastonia, NC	2.0	1.0	780	$1,450	$1.86	5d	1	0.91mi
210 S Highland St Unit A Gastonia, NC	1.0	1.0	800	$995	$1.24	18d	1	0.94mi
407 S Chester St Gastonia, NC	2.0	1.5	1060	$1,262	$1.19	4d	2	1.07mi
300 S Firestone St Gastonia, NC	1.0	1.0	902	$1,425	$1.58	25d	1	1.20mi
408 S Weldon St Gastonia, NC	2.0	1.0	600	$900	$1.50	16d	1	1.21mi
315 S Ransom St Gastonia, NC	3.0	1.0	1012	$1,399	$1.38	16d	1	1.22mi
511 S South St Gastonia, NC	2.0	1.0	950	$1,195	$1.26	25d	1	1.22mi
416 S Weldon St Gastonia, NC	2.0	1.0	650	$900	$1.38	16d	1	1.23mi
610 W 5th Ave Unit 12 Gastonia, NC	2.0	1.0	676	$950	$1.41	25d	1	1.24mi
910 E Davis Ave Gastonia, NC	2.0	1.0	900	$1,288	$1.43	6d	2	1.36mi
903 W 6th Avenue B Gastonia, NC	2.0	1.0	1111	$1,450	$1.31	22d	1	1.40mi

Listing history 31 events

1. 2026-06-21
   days on market $149,900 Active 76 DOM
2. 2026-06-18
   days on market $149,900 Active 73 DOM
3. 2026-06-17
   days on market $149,900 Active 72 DOM
4. 2026-06-16
   days on market $149,900 Active 71 DOM
5. 2026-06-15
   days on market $149,900 Active 70 DOM
6. 2026-06-13
   days on market $149,900 Active 68 DOM
7. 2026-06-09
   days on market $149,900 Active 64 DOM
8. 2026-06-08
   days on market $149,900 Active 63 DOM
9. 2026-06-07
   days on market $149,900 Active 62 DOM
10. 2026-06-04
    days on market $149,900 Active 59 DOM
11. 2026-06-03
    days on market $149,900 Active 58 DOM
12. 2026-06-02
    days on market $149,900 Active 57 DOM
13. 2026-06-01
    days on market $149,900 Active 56 DOM
14. 2026-05-31
    days on market $149,900 Active 55 DOM
15. 2026-04-06
    listed $154,900 Active
16. 2026-03-16
    listed $159,900 Active
17. 2026-02-24
    listed $159,900 Active
18. 2025-08-14
    price $145,000
19. 2025-08-07
    price $155,000
20. 2025-08-06
    price $160,000
21. 2025-07-19
    price $165,000
22. 2025-06-28
    listed $170,000 Active
23. 2022-09-29
    soldstatus $110,000 Closed
24. 2022-09-29
    soldstatus $110,000
25. 2022-08-29
    historical Active Under Contract
26. 2022-08-22
    status Active
27. 2022-08-17
    historical Active Under Contract
28. 2022-08-12
    status Active
29. 2022-08-09
    historical Active Under Contract
30. 2022-08-03
    price $125,000
31. 2022-06-21
    listed $130,000 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: $1,137 · $95/mo
• Projected year-2 tax: $1,229 · $102/mo
• Expected delta: +$92/yr (+$8/mo · 8.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 74% 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 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: $15,009
• − Mortgage interest: −$8,397
• − Property taxes: −$1,137
• − Insurance: −$750
• − Repairs & maintenance: −$1,201
• − Management: −$1,201
• − Depreciation: −$4,361
• Taxable loss: −$2,036
• Est. tax savings @ 24.0%: +$489
• After-tax cash flow: $1,026/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

+19.2% since first listed

17 events — show timeline

• 2026-04-06 Listed $154,900 CANOPYMLS as Distributed by MLS Grid
• 2026-03-16 Listed $159,900 CANOPYMLS as Distributed by MLS Grid
• 2026-02-24 Listed $159,900 CANOPYMLS as Distributed by MLS Grid
• 2025-08-14 Price Changed $145,000 CANOPYMLS as Distributed by MLS Grid
• 2025-08-07 Price Changed $155,000 CANOPYMLS as Distributed by MLS Grid
• 2025-08-06 Price Changed $160,000 CANOPYMLS as Distributed by MLS Grid
• 2025-07-19 Price Changed $165,000 CANOPYMLS as Distributed by MLS Grid
• 2025-06-28 Listed $170,000 CANOPYMLS as Distributed by MLS Grid
• 2022-09-29 Sold (Public Records) $110,000 Public Records
• 2022-09-29 Sold (MLS) $110,000 CANOPYMLS as Distributed by MLS Grid
• 2022-08-29 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2022-08-22 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2022-08-17 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2022-08-12 Relisted — CANOPYMLS as Distributed by MLS Grid
• 2022-08-09 Contingent — CANOPYMLS as Distributed by MLS Grid
• 2022-08-03 Price Changed $125,000 CANOPYMLS as Distributed by MLS Grid
• 2022-06-21 Listed $130,000 CANOPYMLS as Distributed by MLS Grid

Property tax history

+7.2%/yr

Latest (2025): $1,137 · +0.0% YoY. Source: county tax records.