New-Construction
For Sale
$474,900
518 Rankin Avenue Unit A & B, Gastonia, NC 28052
Two-unit residential property with three-bedroom layouts, separate utilities, and contemporary low-maintenance finishes.
Property Size2,543 SF
Price / SF$186.75
Days on Market48
Property Features for 518 Rankin Avenue Unit A & B
General Information
Standard status
Active
Size
2,543 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Amenities
Size: 0.15, Size Units: Acres
Description: Composition
Garage Spaces: 0, Man Level Garage: 0
Details: "Ceiling Fan(s)", "Central Air"
Heating: Central
Description: "In Unit", "Main Level"
Days on Market: 3, Listing Price: 474900, Status: Active
Elementary: Unspecified, Middle/Junior High: Unspecified, High School: Unspecified
Total Bathrooms: 6
Finished Area Above Grade: 2543, Area: 2543, Architecture: Traditional, Building Area: 2543, Construction Materials: Vinyl, Stories: 2, Year Built: 2026, Construction Type: Site Built
Unit: A & B, City: Gastonia, State: NC, Zip: 28052, County: Gaston, Subdivision: None
Full Bathrooms: 4, Half Bathrooms: 2
Sewer: Public Sewer, Water Source: City
Description: Yes
Auction Y/N: 0
Description: "Dishwasher", "Disposal", "Electric Cooktop", "Electric Oven", "Electric Range"
Building Details
Building Size
2,543 SF
Year Built
2026
Listing Agency:
CEDAR REALTY LLC
(704) 305-4178
Listed By:
Brandon Chase
(704) 305-4178
Source:
Blackstreaminternational
Added: Jul 14
Changed: Aug 29
Last Checked: Aug 29 at 6:54PM
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 under construction at 518 Rankin Avenue in Gastonia, North Carolina, with an anticipated 2026 year built. The property contains 2,543 square feet and is configured as two separate residences. Each unit includes three bedrooms, two and one-half bathrooms, and an open-concept interior layout.
Separate utility service is provided for each unit. Interior finishes are designed for low-maintenance ownership, and the construction includes energy-efficient features. The property presents a contemporary residential design with modern exterior styling. Listing photographs are representative because construction is ongoing.
Separate utility service is provided for each unit. Interior finishes are designed for low-maintenance ownership, and the construction includes energy-efficient features. The property presents a contemporary residential design with modern exterior styling. Listing photographs are representative because construction is ongoing.
Key Highlights
- 2,543‑square‑foot duplex under construction
- Anticipated 2026 year built
- Each unit has 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-unit residential property with three-bedroom layouts, separate utilities, and contemporary low-maintenance finishes.
Where is this duplex located?
The property is located at 518 Rankin Avenue Unit 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: 2,543‑square‑foot duplex under construction; Anticipated 2026 year built; Each unit has 3 bedrooms and 2.5 bathrooms
