1002 Iona StFairmontNC28340
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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
Investment property for sale in Fairmont at 1002 Iona St, Fairmont, NC, 28340 uses $58,344 cash to close to unlock $3,583/yr annual cash flow and $299/mo monthly cash flow. Total monthly income runs $1,408/mo, and a $861/mo payment keeps the spread at $299/mo. Purchase price stands at $176,000, and rental yield measures 9.6% with $1,408/mo rent. Return on cash invested shows 26.05% in year one, and 5% annual appreciation builds toward $48,626 over five years. Five-year ROI reaches 135.95% and total cumulative return in cash records $79,317. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,408/mo property income covering a $861/mo payment rather than investor’s personal income.
Single Family
Built in 1935
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28340, Fairmont, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,073 (100%) |
| Owner Occupied HU | 2,560 (62.9%) |
| Renter Occupied HU | 1,021 (25.1%) |
| Vacant Housing Units | 492 (12.1%) |
| Median Home Value | $97,103 |
| Average Home Value | $146,345 |
Housing Distribution
Address Breakdown
Residential
3,840
Single Family
3,769
Multi-Family
71
Businesses
261
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Listed by: GIL JACOBS • ALOTTA PROPERTIES REAL ESTATE
Mls Name: LPRMLS
Mls Provider:
Mls ID: #741735
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.