Updated Five-Unit Apartment
New
For Sale
$885,000
810 S Dalton St, Gastonia, NC 28052
Fully occupied multifamily property with renovated interiors, new HVAC systems, and in-unit laundry connections.
Property Size3,506 SF
Price / SF$252.42
Days on Market5
Property Features for 810 S Dalton St
General Information
Standard status
Active
Size
3,506 SF
Property subtype
Residential Income
Occupancy
100%
Additional Details
Gross Income
$77,820
Highway Access
Yes
Multifamily Units
5
Amenities
in-unit washer/dryer
Building Details
Year Renovated
2023
Listing Agency:
NorthGroup Real Estate LLC
(704) 412-2804
Listed By:
Paul Gomez · License #292826
(704) 779-9243
Source:
Exprealty
Added: Sep 7
Changed: Sep 10
Last Checked: Sep 10 at 2:53PM
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 NorthGroup Real Estate LLC
Investment Insights
Based on property information with market context.
This five-unit apartment property contains 3,506 square feet and was fully occupied at the time of listing. Each unit received substantial updates in 2023, including new HVAC equipment, remodeled bathrooms, and reorganized space for side-by-side washers and dryers. Interior hardware and light fixtures were also replaced. Exterior improvements include new insulated vinyl windows and exterior paint completed shortly before 2023.
Located at 810 S Dalton St in Gastonia, the property is positioned near the ballpark, city center, and I-85. The offering is intended for an investor seeking a renovated multifamily asset with all five units leased. Property access and showings require coordination with the listing agent, and tenant areas are not to be approached without an accompanied appointment.
Located at 810 S Dalton St in Gastonia, the property is positioned near the ballpark, city center, and I-85. The offering is intended for an investor seeking a renovated multifamily asset with all five units leased. Property access and showings require coordination with the listing agent, and tenant areas are not to be approached without an accompanied appointment.
Key Highlights
- Five‑unit apartment property with 3,506 square feet
- All five units fully rented
- 2023 updates included new HVAC systems and remodeled 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
$37,093
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
4.19%
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%
$741,860
$741.9K
Cap Rate 7%
$529,900
$529.9K
Cap Rate 9%
$412,144
$412.1K
Market Conditions
NOI Build-Up for 3,506 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
$73.6K $21.00/SF
− Vacancy
−$6.2K −$1.76/SF
EGI
$67.4K $19.24/SF
− OpEx
−$30.3K −$8.66/SF
NOI
$37.1K $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%
$741,860
Cap Rate 7%
$529,900
Cap Rate 9%
$412,144
Alternative Uses
Best Use
Apartment 5plus
$529.9K
$463.7K – $618.2K
NOI $37,093 @ 7.0% cap · market cap 4.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.10M
$965.6K – $1.29M
NOI $77,244 @ 7.0% cap · market cap 8.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
320
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied multifamily property with renovated interiors, new HVAC systems, and in-unit laundry connections.
Where is this apartment building located?
The property is located at 810 S Dalton St Gastonia, NC.
What is the asking price?
The asking price for this property is $885,000.
What are key features of this property?
This property features: Five‑unit apartment property with 3,506 square feet; All five units fully rented; 2023 updates included new HVAC systems and remodeled bathrooms
