106 Chapel StSpruce PineNC28777
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 Spruce Pine at 106 Chapel St, Spruce Pine, NC, 28777 priced at $290,000 converts $1,273/mo rent into after a $1,419/mo obligation. Total monthly income equals $1,273/mo. Return on cash invested prints 13.74% in year one, and rental yield reads 5.27% against a $290,000 entry. Equity gained on principal adds $1,871/yr, while 5% annual appreciation compiles into $80,122 by year five. Five-year ROI reaches 69.64% and total cumulative return in cash sums $66,952. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,273/mo property income covering a $1,419/mo payment, not borrower’s personal income.
Single Family
Built in 1966
0.69 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28777, Spruce Pine, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,050 (100%) |
| Owner Occupied HU | 3,050 (60.4%) |
| Renter Occupied HU | 943 (18.7%) |
| Vacant Housing Units | 1,057 (20.9%) |
| Median Home Value | $261,804 |
| Average Home Value | $292,059 |
Housing Distribution
Address Breakdown
Residential
4,311
Single Family
4,160
Multi-Family
151
Businesses
483
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Kelly Pittman Jones • Proper Realty LLC
Mls Name: Canopy MLS as distributed by MLS GRID
Mls Provider:
Mls ID: #4248002
Disclaimer: Based on information submitted to the MLS GRID as of 2025-04-29 08:48:14 PDT. 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](/mls-disclaimers/#87)