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1040 Gales Ave
Winston Salem, NC

1040 Gales Ave

$311,300
3 bd • 2 ba • 1,575 sf

This analysis was generated by artificial intelligence on 1/28/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

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AI Property Analysis

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List Price

$311,300

Price/Sq.Ft

$198

Year Built

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

• The price per square foot ($197.65) is relatively competitive compared to the market, which can appeal to budget-conscious buyers. The median income in Winston-Salem of $53,486 suggests affordability for a range of buyers. • The property has three bedrooms and two bathrooms which are attractive to families or individuals needing extra space. • The home appears to be a single-story ranch style, which is desirable for accessibility and ease of living. • The image shows a well-maintained lawn, mature landscaping, and a traditional suburban setting, potentially appealing to buyers who value a quiet neighborhood feel. The property is surrounded by mature trees, which provides shade and privacy. • The property is in Winston-Salem, which is experiencing revitalization and has a growing innovation sector, making it a potentially good place for long term investment.

The Bad

• The lack of property features and a description is a major drawback. Potential buyers cannot assess the home's amenities, condition, or unique characteristics. • The unknown year built is a concern. Older homes often have hidden issues and require more maintenance, potentially increasing costs for the buyer. • No room details are provided, making it difficult to understand the layout and functionality of the property. Buyers cannot evaluate if the home meets their spatial needs. • No utility information is available. This lack of transparency makes it hard to estimate monthly costs and assess the efficiency of the systems. • The absence of a description may indicate that the property has some undesirable features that the seller is not disclosing.

The Ugly

• The lack of information on the age of the property and its systems presents a significant risk for potential buyers. Older systems may be inefficient and prone to failure, leading to costly repairs. • Given the age of the property, there could be hidden issues such as structural problems, mold, asbestos, or lead paint, which would require expensive remediation. A thorough inspection is critical to uncover these issues. • Without specific information on the utilities, it is impossible to assess the efficiency of the systems and their potential impact on monthly costs. This lack of transparency is a red flag. • The potential for soil contamination due to Winston-Salem's history with the tobacco industry is a concern. Soil testing could add to the initial costs of purchasing the property. • The lack of information on HOA fees or neighborhood restrictions creates uncertainty for the buyer and may lead to unexpected costs or limitations.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

• First-time homebuyers seeking a starter home with a manageable size and established neighborhood feel. The three bedrooms and two bathrooms are suitable for a small family or individuals needing extra space. • Buyers looking for a property with a good price per square foot ($197.65) compared to some newer construction in the Winston-Salem area, where prices can easily exceed $250/sqft. • Individuals or families who value a traditional, single-story home layout with easy access to the outdoors. The property seems to have a relatively flat lot based on the image, which might be suitable for those with mobility concerns. • Buyers who are comfortable with a property that does not have the latest upgrades and are willing to invest in personalizing and updating it over time. This could be an opportunity for those who enjoy DIY projects and want to build equity through improvements. • Those who prefer a suburban setting with mature trees and a traditional yard. The property seems to have a good amount of yard space, which is beneficial for children or pets.

Not For

• Buyers seeking modern, updated homes with high-end finishes. This property may require significant renovations to meet those expectations. • Investors looking for immediate cash flow with high rental yields. The potential rental income might not be high enough to justify the investment given the price. • Buyers who need a large amount of living space. At 1575 square feet, this property may not be suitable for large families or those requiring extensive living areas. • Buyers who prefer walking distance to amenities or a very urban lifestyle. The property is likely located in a suburban setting, and car ownership is generally necessary. • Those who are not comfortable with the possibility of some maintenance or renovation projects. The lack of detailed property information suggests the home might need some work.
Demographics
Area Median Income

$53,486

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Risk Assessment

Risk Analysis

• Unknown age of the property is a significant risk. Older homes may have outdated systems (electrical, plumbing, HVAC) that could require expensive repairs or replacement. • Lack of detailed property information, including room details and utilities, makes it difficult to assess the property's condition without a thorough inspection. This could hide potential issues. • The absence of a property description means there might be hidden flaws or negative aspects not mentioned in the listing. A detailed inspection is essential to uncover any issues. • The property's location in a city with a history tied to the tobacco industry means there could be soil contamination in some areas. A soil test might be necessary for peace of mind. • The property’s specific location within Winston-Salem is not given, which makes it hard to assess its proximity to key amenities, and the potential impact of revitalization and gentrification in the area.

Financials

Monthly Costs

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$329,667

5.9% above list price

Median Price

$352,000

Based on 6 recent sales

Price per Sq.Ft

$209

Comparable Properties

2240 Queen Street, Winston-Salem, NC 27103
Price: $251,000
Sq.Ft: 1,560
Beds/Baths: 3/2
$/Sq.Ft:
$16118.6%
Sale Date: 10/25/2024
1137 Ebert Street, Winston-Salem, NC 27103
Price: $352,000
Sq.Ft: 1,591
Beds/Baths: 3/2
$/Sq.Ft:
$22111.9%
Sale Date: 10/18/2024
2439 Hoyt Street, Winston-Salem, NC 27103
Price: $265,000
Sq.Ft: 1,400
Beds/Baths: 2/2
$/Sq.Ft:
$1894.2%
Sale Date: 11/15/2024
2439 Hoyt Street, Winston Salem, NC 27103
Price: $265,000
Sq.Ft: 1,400
Beds/Baths: 2/2
$/Sq.Ft:
$1894.2%
Sale Date: 11/15/2024
2368 Walker Avenue, Winston-Salem, NC 27103
Price: $405,000
Sq.Ft: 1,690
Beds/Baths: 3/2
$/Sq.Ft:
$24021.2%
Sale Date: 10/28/2024
2412 Walker Avenue, Winston Salem, NC 27103
Price: $440,000
Sq.Ft: 1,750
Beds/Baths: 3/2
$/Sq.Ft:
$25127.2%
Sale Date: 11/6/2024

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