Remodeled Duplex with
For Sale
$425,000
912 Rankin Avenue, Gastonia, NC 28052
Remodeled duplex offering separate living spaces, two-car carport, and a basement with private entrance and laundry hookups.
Property Size2,538 SF
Price / SF$132.90
Days on Market53
Property Features for 912 Rankin Avenue
General Information
Standard status
Active
Size
2,538 SF
Total Parking Spaces
2
Property subtype
Duplex
Additional Details
Multifamily Units
2
Amenities
fireplaces
cedar lined closets
carport
storage room
private entrance
laundry
kitchenette
Size: 0.34, Size Units: Acres
Man Level Garage: 0
Details: Attic Fan, Ceiling Fan(s), Central Air, Gas, Multi Units
Heating: Natural Gas
Description: Inside
Days on Market: 1, Listing Price: 425000, Status: Active
Elementary: Unspecified, Middle/Junior High: Unspecified, High School: Unspecified
Description: Exterior Entry, Partial, Partially Finished, Storage Space, Sump Pump
Total Bathrooms: 6
Finished Area Above Grade: 2538, Area: 3198, Building Area: 3198, Construction Materials: Fiber Cement, Year Built: 1942, Construction Type: Site Built
City: Gastonia, State: NC, Zip: 28052, County: Gaston, Subdivision: None, Directions: Drive south on Hwy 321 from I-85. Right onto West Long Ave/NC 7. Right onto Highland St. Left onto West Rankin Ave. Property is on the right.
Zoning: R1H
Full Bathrooms: 3
Sewer: Public Sewer, Water Source: City
Description: Yes
Auction Y/N: 0
Description: Dishwasher, Disposal, Double Oven, Dryer, Electric Water Heater, ENERGY STAR Qualified Washer, Exhaust Hood, Gas Cooktop, Gas Water Heater, Microwave, Refrigerator, Refrigerator with Ice Maker, Wall Oven, Washer/Dryer
Building Details
Building Size
2,538 SF
Year Built
1942
Tenancy
Multi
Listing Agency:
Beycome Brokerage Realty LLC
Listed By:
Craig Tribus
(804) 656-5007
Source:
Blackstreaminternational
Added: Jul 24
Changed: Sep 13
Last Checked: Sep 13 at 10:53AM
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 Beycome Brokerage Realty LLC
Investment Insights
Based on property information with market context.
This remodeled duplex provides flexible layout options with separate sides and independent systems. Each unit has its own HVAC and separate power meters, with the main living space featuring 4 bedrooms and 2 bathrooms plus additional living and dining areas, a large kitchen with eating area, and a laundry closet. The second apartment includes 2 bedrooms and 1 bathroom with living, dining, kitchen, and laundry rooms. The property also includes 3 fireplaces, multiple closets including cedar-lined closet space, and a 2-car carport with a large storage room. A 660-square-foot basement with a private entrance offers additional storage and includes washer and dryer hookups and a kitchenette.
The address is 912 Rankin Avenue in Gastonia, NC. The property is described as being convenient to the Fuse District and Uptown.
For buyers seeking a residence with income potential, the duplex configuration supports living in one side while renting the other, and the adjoining hotel-style doors are described as allowing the spaces to be used as one home.
The address is 912 Rankin Avenue in Gastonia, NC. The property is described as being convenient to the Fuse District and Uptown.
For buyers seeking a residence with income potential, the duplex configuration supports living in one side while renting the other, and the adjoining hotel-style doors are described as allowing the spaces to be used as one home.
Key Highlights
- 1942 remodeled multi‑family duplex with flexible setup for rental income or multi‑generational living
- Two separate living areas: main unit with 4 bed/2 bath plus upstairs sitting area, dining room, and large kitchen with eating area
- Second apartment with 2 bed/1 bath, including living room, dining room, kitchen, and laundry room
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
$37,079
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
8.72%
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%
$741,580
$741.6K
Cap Rate 7%
$529,700
$529.7K
Cap Rate 9%
$411,989
$412.0K
Market Conditions
NOI Build-Up for 3,198 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
$57.6K $18.00/SF
− Vacancy
−$4.6K −$1.44/SF
EGI
$53.0K $16.56/SF
− OpEx
−$15.9K −$4.97/SF
NOI
$37.1K $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%
$741,580
Cap Rate 7%
$529,700
Cap Rate 9%
$411,989
Alternative Uses
Best Use
Multifamily LT 5
$529.7K
$463.5K – $618.0K
NOI $37,079 @ 7.0% cap · market cap 8.72%
Second Best
Apartment 5plus
$483.3K
$422.9K – $563.9K
NOI $33,834 @ 7.0% cap · market cap 7.96%
Theoretical Best
Office A
$1.01M
$880.7K – $1.17M
NOI $70,458 @ 7.0% cap · market cap 16.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
479
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?
Duplex - Remodeled duplex offering separate living spaces, two-car carport, and a basement with private entrance and laundry hookups.
Where is this duplex located?
The property is located at 912 Rankin Avenue Gastonia, NC.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 1942 remodeled multi‑family duplex with flexible setup for rental income or multi‑generational living; Two separate living areas: main unit with 4 bed/2 bath plus upstairs sitting area, dining room, and large kitchen with eating area; Second apartment with 2 bed/1 bath, including living room, dining room, kitchen, and laundry room
