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1024 Miller St, Gastonia, NC 28052
DETAILS
Type: Single Family
Bedrooms / Baths: 2 bed / 1 bath
Living Area: 576 sq ft
Year Built: 1945
Lot Size: 0.22 acres / 9,583 sq ft
Utilities: City Water & Sewer
Occupancy at Closing: Sold with tenants, not vacant at closing. Month-to-month tenants paying $680/month, in place for 9 years.
Closing Date: 11/05/26
Closing Attorney: Atlas Orange
Asking Price: $68,000
The roof is new as of 2020. Heat is electric with window units for AC, all 10+ years old. The 2025 tax assessment is $61,800 with annual taxes of $661 (Parcel 112086, zoned R1). Sold as-is; the buyer should review the existing tenancy and property condition.
COMPARABLE SALES
Renovated / ARV Comps:
1216 Mountain Ave — 966 sq ft — $197,000 ($204/sq ft) — Sold, 3bd
1203 W Iva Ave — 793 sq ft — $170,000 ($214/sq ft) — Sold, 3bd
908 Linwood Rd — 870 sq ft — $144,900 ($167/sq ft) — Sold, 2bd
As-Is (reference only):
609 S Yates St — 572 sq ft — $100,000 ($175/sq ft) — Sold, as-is, 1bd
1003 W 7th Ave — 632 sq ft — $81,500 ($129/sq ft) — Sold, as-is, 1bd
Pending / Contingent (reference only):
302 S Myrtle School Rd — 936 sq ft — $210,000 ($224/sq ft) — Pending, 3bd
816 S Weldon St — 894 sq ft — $170,000 ($190/sq ft) — Contingent, 2bd
As-Is Floor (Reference): ~$90,750 (~$152/sq ft)
ARV (renovated $195/sq ft applied to 576 sq ft): ~$112,300
Our Price: $68,000 ($118/sq ft)
Spread to ARV: ~$44,300
OVERVIEW
This tenant-occupied 2 bed/1 bath home is priced at $68,000, or $118/sq ft, below even the $152/sq ft that as-is homes nearby sold for. The month-to-month tenants have been in place for 9 years and pay $680/month, about a 12% gross yield at asking. Renovated comps point to an ARV near $112,300, a roughly $44,300 spread for a buyer who eventually renovates. The roof was replaced in 2020. Gastonia’s median sale price over the last 12 months is about $294,000, up 5% year over year. Gaston County was named one of America’s top 10 most desirable counties to move to, and Fit Precast is building a $102 million manufacturing facility in Gastonia with 125 jobs.
Rent: $680/mo | Gross Yield at Asking: ~12.0%
Source: Homes.com — Gastonia Recently Sold, Gaston County Economic Development, Business North Carolina
DISCLAIMER — Please Read Before Submitting an Offer
Assignment of Contract
This is an assignment of contract. A legally binding purchase agreement with a memorandum has been executed with the Seller, granting this company exclusive rights to purchase the property. We are not brokers or realtors and are not representing ourselves as such. We do not represent the owner.
Do not contact the Seller directly. Any attempt to contact the owner, interfere with, or circumvent our active contract will result in legal action. This property is not to be re-marketed under any circumstances without our explicit written consent and the execution of a joint venture agreement.
Due Diligence
Buyers are responsible for performing their own due diligence. We are not licensed agents. Please consult appropriate legal or professional counsel before submitting an offer.
Offer & Deposit Terms
A minimum $5,000 non-refundable deposit is required within 24 hours of signing to secure the deal. Closing will occur as quickly as possible, but no longer than 30 calendar days. Buyer pays all closing costs — closing costs are NOT included in the asking price. Taxes will be prorated and split between parties. $495 transaction fee payable to Bright Home Offer LLC. Closing will be conducted with our closing attorney.
As-Is Terms
This property is offered as-is, where-is, with no warranties. By submitting an offer, you are accepting these terms.
No repairs or improvements will be made prior to closing. No clean-out or clean-up of any kind will be completed. Property will not be broom clean at closing.
Realtors & Wholesalers
If you are working with a client and wish to receive a commission or fee, please note that the wholesale price does not include your compensation. You may either negotiate your commission/fee directly with your client, separate from the wholesale price, or adjust the wholesale price upward to include your fee. If you’d like to be compensated by us at or outside of closing, please reach out or include those terms in your offer.