New-Construction
For Sale
$474,900
518 Rankin Avenue A & B, Gastonia, NC 28052
Two residential units feature contemporary layouts, individual utilities, and low-maintenance finishes.
Property Size2,543 SF
Price / SF$186.75
Days on Market35
Property Features for 518 Rankin Avenue A & B
General Information
Standard status
Active
Size
2,543 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Building Details
Year Built
2026
Buildings
1
Listing Agency:
CEDAR REALTY LLC
(704) 305-4178
Listed By:
Brandon Chase · License #249103
Source:
Highperformancerea
Added: Jul 26
Changed: Aug 28
Last Checked: Aug 28 at 9:57AM
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 CEDAR REALTY LLC
Investment Insights
Based on property information with market context.
This duplex is a new-construction residential income property currently being built for completion in 2026. Each residence is planned with three bedrooms, two-and-one-half bathrooms, and an open layout that connects the primary living areas. Durable finishes and energy-efficient construction are included in the design, while separate utility systems support independent operation of the units.
The property is located at 518 Rankin Avenue A & B in Gastonia, North Carolina. Its configuration provides two separately addressed residences within one duplex property, with contemporary exterior styling and modern interior specifications. The planned layout supports residential occupancy and rental use without combining the utility systems between units.
The property is located at 518 Rankin Avenue A & B in Gastonia, North Carolina. Its configuration provides two separately addressed residences within one duplex property, with contemporary exterior styling and modern interior specifications. The planned layout supports residential occupancy and rental use without combining the utility systems between units.
Key Highlights
- Two‑unit duplex at 518 Rankin Avenue A & B, Gastonia, NC 28052
- 2026 new construction currently under development
- Each unit includes 3 bedrooms and 2.5 bathrooms
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
$29,485
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
6.21%
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%
$589,700
$589.7K
Cap Rate 7%
$421,214
$421.2K
Cap Rate 9%
$327,611
$327.6K
Market Conditions
NOI Build-Up for 2,543 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
$45.8K $18.00/SF
− Vacancy
−$3.7K −$1.44/SF
EGI
$42.1K $16.56/SF
− OpEx
−$12.6K −$4.97/SF
NOI
$29.5K $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%
$589,700
Cap Rate 7%
$421,214
Cap Rate 9%
$327,611
Alternative Uses
Best Use
Multifamily LT 5
$421.2K
$368.6K – $491.4K
NOI $29,485 @ 7.0% cap · market cap 6.21%
Second Best
Apartment 5plus
$384.3K
$336.3K – $448.4K
NOI $26,904 @ 7.0% cap · market cap 5.67%
Theoretical Best
Office A
$800.4K
$700.3K – $933.8K
NOI $56,027 @ 7.0% cap · market cap 11.80%
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
1,057
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 - Two residential units feature contemporary layouts, individual utilities, and low-maintenance finishes.
Where is this duplex located?
The property is located at 518 Rankin Avenue A & B Gastonia, NC.
What is the asking price?
The asking price for this property is $474,900.
What are key features of this property?
This property features: Two‑unit duplex at 518 Rankin Avenue A & B, Gastonia, NC 28052; 2026 new construction currently under development; Each unit includes 3 bedrooms and 2.5 bathrooms
