Two-Cottage
For Sale
$260,000
1501 Madison Street, Gastonia, NC 28052
Separate cottage units offer private living arrangements within one duplex property.
Property Size1,680 SF
Price / SF$154.76
Days on Market13
Property Features for 1501 Madison Street
General Information
Standard status
Active
Size
1,680 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Amenities
Size: 0.24, Size Units: Acres
Man Level Garage: 0
Details: Ceiling Fan(s), Central Air
Heating: Central, Heat Pump
Description: Main Level
Days on Market: 3, Listing Price: 260000, Status: Active
Elementary: Lingerfeldt, Middle/Junior High: Yorkchester, High School: Hunter Huss
Total Bathrooms: 4
Finished Area Above Grade: 1680, Area: 1680, Building Area: 1680, Construction Materials: Vinyl, Year Built: 1900, Construction Type: Site Built
City: Gastonia, State: NC, Zip: 28052, County: Gaston, Subdivision: Southgate
Full Bathrooms: 2
Sewer: Public Sewer, Water Source: City
Description: Yes
Auction Y/N: 0
Description: None
Building Details
Building Size
1,680 SF
Year Built
1900
Buildings
2
Listing Agency:
Monarch Group Realty
(704) 318-5494
Listed By:
Angie Castro
(704) 318-5494
Source:
Blackstreaminternational
Added: Aug 13
Changed: Aug 24
Last Checked: Aug 24 at 6:27AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Monarch Group Realty
Investment Insights
Based on property information with market context.
This duplex comprises two separate cottages, each arranged as its own private living space. The property contains 1,680 square feet and was built in 1900, offering a distinctive configuration for residential occupancy.
Located at 1501 Madison Street in Gastonia, North Carolina, the property provides access to shopping, dining, major roads, and other local amenities. The layout can accommodate rental use, owner occupancy alongside a second unit, or multi-generational living, consistent with the property's two-cottage design.
Located at 1501 Madison Street in Gastonia, North Carolina, the property provides access to shopping, dining, major roads, and other local amenities. The layout can accommodate rental use, owner occupancy alongside a second unit, or multi-generational living, consistent with the property's two-cottage design.
Key Highlights
- Two separate cottage units within a duplex configuration
- 1,680 square feet of property size
- Built in 1900
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$19,479
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.49%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$389,580
$389.6K
Cap Rate 7%
$278,271
$278.3K
Cap Rate 9%
$216,433
$216.4K
Market Conditions
NOI Build-Up for 1,680 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$30.2K $18.00/SF
− Vacancy
−$2.4K −$1.44/SF
EGI
$27.8K $16.56/SF
− OpEx
−$8.3K −$4.97/SF
NOI
$19.5K $11.59/SF
Area
Gaston County, NC
Vacancy
7.98%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$389,580
Cap Rate 7%
$278,271
Cap Rate 9%
$216,433
Alternative Uses
Best Use
Multifamily LT 5
$278.3K
$243.5K – $324.7K
NOI $19,479 @ 7.0% cap · market cap 7.49%
Second Best
Apartment 5plus
$253.9K
$222.2K – $296.2K
NOI $17,774 @ 7.0% cap · market cap 6.84%
Theoretical Best
Office A
$528.8K
$462.7K – $616.9K
NOI $37,014 @ 7.0% cap · market cap 14.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
221
Businesses Nearby
Explore this area
Business Placement
Demographics for 28052, NC
35,332
Population
15,561
Households
2.3
Avg Household Size
38
Median Age
16%
College-Educated
83%
High-School Grad
41.4 sq mi
ZIP Area
853
Density / Sq Mi
$46,015
Median Household Income
$34,339
Median Earnings
$1,058
Median Rent
$173,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Separate cottage units offer private living arrangements within one duplex property.
Where is this duplex located?
The property is located at 1501 Madison Street Gastonia, NC.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: Two separate cottage units within a duplex configuration; 1,680 square feet of property size; Built in 1900
