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    1106 Summer Drive Gastonia, NC 28052

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    Claim this Listing
    For Sale
    Under Contract
    $268,000

    MULTI_FAMILY - Gastonia, NC

    Lot size:
    0.22 Acres
    Added:
    Nov 21, 2025
    Days on Market:
    165
    Last Refresh:
    May 5 at 7:06 pm

    Property Features for 1106 Summer Drive

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    RMF
    Bedrooms
    3
    Bathrooms
    2
    Rooms
    Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 1, Bathroom 2
    Parking features
    Driveway
    Appliances
    Electric Oven, Refrigerator
    Standard status
    Active Under Contract
    APN
    107897
    Lot size
    0.22 Acres

    Taxes and HOA fees

    Tax Description
    OVERHILL TERRACE BLK C L 13 01 048 017 01 000

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Heat Pump (Heating), Ductless (Heating)
    Cooling system
    Central Air, Ductless

    Building Details

    Year built
    1960
    Number of units
    2
    Flooring type
    Vinyl
    Building materials
    Aluminum, Brick Partial, Vinyl

    We can help!

    Listing Contact
    Kathryn Cook Crespo

    Listing agent Kathryn Cook Crespo License #276557

    Listing office Nestlewood Realty, LLC 2108 South Blvd #107, Charlotte, NC

    Listing date Nov 21, 2025

    MLS# 4324502 Listing URL

    Copyright © 2026 Canopy MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Move-In-Ready Gastonia Duplex For Sale

    This move-in-ready duplex is located in Gastonia, North Carolina. Situated on a 0.22-acre lot, this property has been updated throughout. Both units feature new LVP flooring, freshly painted interiors and exteriors, updated bathrooms and kitchens with granite countertops and new appliances. The electrical system has been updated, and the roof was replaced in 2020. Unit 1 offers 2 bedrooms, 1 bath, and a HVAC system replaced in 2025. Unit 2 boasts 1 bedroom, 1 bath, and a new mini-split installed in 2025 for efficient heating and cooling. Located in a rapidly growing area, the property is just minutes from the Fuse District, Loray Mill, and a short drive to Charlotte Douglas International Airport, the Whitewater Center, and Crowder's Mountain. The property is zoned RMF and offers possibilities for investors or homeowners looking to live in one unit and rent the other.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Gastonia
    County
    Gaston
    State
    North Carolina
    Longitude
    -81.201987
    Latitude
    35.254346

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    FAQs

    What type of property is this?
    Duplex - Updated duplex in prime location, ideal for investors or homeowners.
    Where is this duplex located?
    The property is located at 1106 Summer Drive Gastonia, NC.
    What is the asking price?
    The asking price for this property is $268,000.
    What are key features of this property?
    This property features: Move‑in ready duplex with **updated kitchens and bathrooms featuring granite countertops and new appliances.**; Two units offer flexibility: Unit 1 (2 bed/1 bath) with **new HVAC (2025)**, Unit 2 (1 bed/1 bath) with new mini‑split (2025).; Prime location near the Fuse District, Loray Mill, Charlotte Douglas International Airport, Whitewater Center, and Crowder's Mountain.
    (704) 998-9520
    We can help!
    Listing Contact
    Kathryn Cook Crespo
    Real Estate License ID: 276557
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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