1040 Mills StRaleighNC27608
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderThe cash-flow margin at 1040 Mills St, Raleigh, NC, 27608 in Raleigh is narrow, $7/mo net on $3,054/mo rent after the $2,248/mo debt service, but the property operates at break-even-plus, not a loss. At $500,000 with a 7.33% yield, the long-run equity case via 5% appreciation ($138,141 over five years) and $4,605/yr in principal paydown is where the returns accumulate. Ziffy Mortgage's 1.36 DSCR loan requires no W-2s or U.S. credit. Total projected cumulative return: $189,843.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 7.3% | 5.8% |
| Monthly Cash Flow | $7 | $1,850 |
City averages based on Raleigh market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,054 |
| Total Monthly Debt Service | $2,848 |
| DSCR Ratio | 1.07x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1991
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 27608, Raleigh, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,950 (100%) |
| Owner Occupied HU | 3,873 (65.1%) |
| Renter Occupied HU | 1,716 (28.8%) |
| Vacant Housing Units | 361 ( 6.1%) |
| Median Home Value | $902,954 |
| Average Home Value | $979,755 |
Housing Distribution
Address Breakdown
Residential
5,483
Single Family
5,005
Multi-Family
478
Businesses
319
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Single Family
Built in 1991
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 27608, Raleigh, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,950 (100%) |
| Owner Occupied HU | 3,873 (65.1%) |
| Renter Occupied HU | 1,716 (28.8%) |
| Vacant Housing Units | 361 ( 6.1%) |
| Median Home Value | $902,954 |
| Average Home Value | $979,755 |
Housing Distribution
Address Breakdown
Residential
5,483
Single Family
5,005
Multi-Family
478
Businesses
319
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Brandon Gray Blackman • Hodge & Kittrell Sotheby's Int
Mls Name: Doorify MLS
Mls Provider:
Mls ID: #10095252
Disclaimer: The MLS listing information displayed is deemed reliable, but is not guaranteed accurate by the MLS. Copyright 2025 Doorify MLS of North Carolina. All rights reserved.