9-Unit Brick Multifamily
New
For Sale
$1,200,000
595 Betty St, Gastonia, NC 28054
All apartments are occupied, and electricity is separately metered across the community.
Property Size5,712 SF
Lot Size0.61 Acres
Price / SF$210.08
Days on Market2
Property Features for 595 Betty St
General Information
Standard status
Active
Size
5,712 SF
Net Rentable
5,712 SF
Lot size
0.61 Acres
Property subtype
Multi-Family
Occupancy
100%
Net Operating Income
$103,319
Financials
Asking Price
$1,200,000
Cap Rate
8.6%
Gross Income
$120,900
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
6 x 1BR/1BA, 3 x 2BR/1BA
Multifamily Units
9
Building Details
Year Built
1979
Buildings
2
Stories
1
Construction
garden-style
Listing Agency:
Hines & Associates Realty LLC
Listed By:
Tim Brown · License #4298086
(704) 619-1008
Source:
Highperformancerea
Added: Sep 29
Last Checked: Sep 22 at 4:38PM
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 Hines & Associates Realty LLC
Investment Insights
Based on property information with market context.
Two one-story brick buildings contain nine apartments across approximately 5,712 square feet on about 0.61 acres. The property was built in 1979 and includes six one-bedroom, one-bath units of approximately 600 square feet each, plus three two-bedroom, one-bath units of approximately 700 square feet each. Seven apartments had been updated before the current ownership. Subsequent work includes exterior painting, replacement windows throughout, and a roof installed in 2022. A surface lot serves the buildings, and Unit 1 has a metal ramp at its entrance. Most apartments include a refrigerator and gas range or stove.
The community is approximately five minutes from Downtown Gastonia and the FUSE District, with access to I-85. Electricity is separately metered; tenants generally pay electricity and applicable gas service, while the owner covers water, trash, stormwater, and landscaping. All nine apartments are occupied.
The community is approximately five minutes from Downtown Gastonia and the FUSE District, with access to I-85. Electricity is separately metered; tenants generally pay electricity and applicable gas service, while the owner covers water, trash, stormwater, and landscaping. All nine apartments are occupied.
Key Highlights
- Nine apartments across two single‑story brick buildings
- Six 1‑bedroom/1‑bath units of approximately 600 square feet and three 2‑bedroom/1‑bath units of approximately 700 square feet
- Approximately 5,712 rentable square feet on about 0.61 acres; built in 1979
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
$60,432
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
5.04%
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%
$1,208,640
$1.2M
Cap Rate 7%
$863,314
$863.3K
Cap Rate 9%
$671,467
$671.5K
Market Conditions
NOI Build-Up for 5,712 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
$120.0K $21.00/SF
− Vacancy
−$10.1K −$1.76/SF
EGI
$109.9K $19.24/SF
− OpEx
−$49.4K −$8.66/SF
NOI
$60.4K $10.58/SF
Area
Gaston County, NC
Vacancy
8.40%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
45.00%
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%
$1,208,640
Cap Rate 7%
$863,314
Cap Rate 9%
$671,467
Alternative Uses
Best Use
Apartment 5plus
$863.3K
$755.4K – $1.01M
NOI $60,432 @ 7.0% cap · market cap 5.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.80M
$1.57M – $2.10M
NOI $125,847 @ 7.0% cap · market cap 10.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
9
Residential units
100%
Occupancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
641
Businesses Nearby
Explore this area
Business Placement
Demographics for 28054, NC
40,548
Population
18,351
Households
2.2
Avg Household Size
40
Median Age
25%
College-Educated
90%
High-School Grad
19.3 sq mi
ZIP Area
2,101
Density / Sq Mi
$59,524
Median Household Income
$39,883
Median Earnings
$1,150
Median Rent
$220,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - All apartments are occupied, and electricity is separately metered across the community.
Where is this multifamily property located?
The property is located at 595 Betty St Gastonia, NC.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Nine apartments across two single‑story brick buildings; Six 1‑bedroom/1‑bath units of approximately 600 square feet and three 2‑bedroom/1‑bath units of approximately 700 square feet; Approximately 5,712 rentable square feet on about 0.61 acres; built in 1979
