1040 Mills StRaleighNC27608
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
Investment Highlights
Rental property for sale in Raleigh at 1040 Mills St, Raleigh, NC, 27608 offers $3,054/mo rent that, after a $2,447/mo payment, leaves $7/mo cash flow. Total monthly income is $3,054/mo, and annual cash flow is $84/yr on $165,750 cash. Return on cash invested measures 19.96% in year one, and rental yield stands at 7.33% at a $500,000 entry. Equity gained on principal adds $3,226/yr while 5% annual appreciation compounds into $138,141 by year five. Five-year ROI records 102.98% and total cumulative return in cash reaches $170,696. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $3,054/mo property income versus a $2,447/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
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
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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.