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505 S Main St, Stanley, NC 28164
DETAILS
Type: Single Family
Bedrooms / Baths: 3 bed / 1 bath
Living Area: 1,391 sq ft
Year Built: 1930
Lot Size: 0.18 acres / 7,841 sq ft
Utilities: City Water & City Sewer
Occupancy at Closing: Occupied, will be vacant at closing
Closing Date: 08/20/26
Closing Attorney: Atlas Orange
Asking Price: $137,000
Parcel ID 134257, zoned R1, with annual taxes of $1,256.
COMPARABLE SALES
202 E College St, Stanley, NC 28164 — 1,430 sq ft — $225,000 ($157/sq ft) — Sold January 2025, as-is
208 E Parkwood St, Stanley, NC 28164 — 1,235 sq ft — $215,000 ($174/sq ft) — Sold, as-is
Renovated/Market-Rate Comps:
308 E Chestnut St, Stanley, NC 28164 — 1,498 sq ft — $282,000 ($188/sq ft) — Sold, recent roof/deck updates
415 N Main St, Stanley, NC 28164 — 1,471 sq ft — $275,000 ($187/sq ft) — Sold, same street as subject, beautifully updated
114 W College St, Stanley, NC 28164 — 1,441 sq ft — $245,000 ($170/sq ft) — Sold June 2025
As-Is Floor: ~$220,000 (~$166/sq ft)
ARV (Renovated Comp Avg): ~$267,333 (~$182/sq ft)
Our Price: $137,000 ($98/sq ft)
Spread to ARV: ~$130,333
OVERVIEW
This 3 bed/1 bath home is priced over $80,000 below even the as-is floor of the area, with a $130,333 spread to the renovated comp average — including a direct same-street comp (415 N Main St) that closed at $275,000. Gaston County was recently named one of America’s Top 10 Most Desirable Counties to Move To, and the momentum is backed by real capital investment: a $102 million Fit Precast manufacturing facility (Gastonia, 125 jobs) and a $23 million Textum OPCO expansion (McAdenville, 34 jobs) have both been announced in the past year, with new positions paying nearly double the county’s average wage. Stanley itself participates in the county’s investment grant matching program, reinforcing continued local growth.
Source: Gaston County Economic Development, Business North Carolina, Gaston County News
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.