1 Walnut Ridge Dr #1Iron StationNC28080
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Rental property for sale in Iron Station at 1 Walnut Ridge Dr #1, Iron Station, NC, 28080 offers $1,948/mo rent that, after a $514/mo payment, leaves $1,308/mo cash flow. Total monthly income is $1,948/mo, and annual cash flow is $15,696/yr on $34,808 cash. Return on cash invested measures 65% in year one, and rental yield stands at 22.26% at a $105,000 entry. Equity gained on principal adds $678/yr while 5% annual appreciation compounds into $29,010 by year five. Five-year ROI records 344.52% and total cumulative return in cash reaches $119,918. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,948/mo property income versus a $514/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Lot
Built in N/A
3.60 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28080, Iron Station, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,788 (100%) |
| Owner Occupied HU | 3,097 (81.8%) |
| Renter Occupied HU | 444 (11.7%) |
| Vacant Housing Units | 247 ( 6.5%) |
| Median Home Value | $304,094 |
| Average Home Value | $347,301 |
Housing Distribution
Address Breakdown
Residential
3,594
Single Family
3,594
Multi-Family
0
Businesses
95
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Listed by: Ben Bowen • Premier Sotheby's International Realty
Mls Name: Canopy MLS as distributed by MLS GRID
Mls Provider:
Mls ID: #4103848
Disclaimer: Based on information submitted to the MLS GRID as of 2024-01-24 10:55:15 PST. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. [Click here for more information](/info/mls-disclaimers/#mls_87)