108 Red Cedar LnStatesvilleNC28625
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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 Statesville at 108 Red Cedar Ln, Statesville, NC, 28625 priced at $299,900 pairs $2,414/mo rent with $586/mo cash flow after a $1,468/mo payment. Total monthly income equals $2,414/mo, and annual cash flow comes to $7,033/yr on $99,417 invested. Return on cash invested is 26.98% in year one, and rental yield stands at 9.66% on a $299,900 basis. Equity gained on principal adds $1,935/yr, and 5% annual appreciation accumulates to $82,857 by year five. Five-year ROI measures 140.68% and total cumulative return in cash reaches $139,864. For financing, Ziffy Mortgage’s DSCR program evaluates $2,414/mo property income against a $1,468/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 2023
0.50 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28625, Statesville, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,588 (100%) |
| Owner Occupied HU | 12,188 (69.3%) |
| Renter Occupied HU | 4,187 (23.8%) |
| Vacant Housing Units | 1,213 ( 6.9%) |
| Median Home Value | $314,741 |
| Average Home Value | $354,325 |
Housing Distribution
Address Breakdown
Residential
16,663
Single Family
15,291
Multi-Family
1,372
Businesses
907
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Listed by: Tim Brown • Hines & Associates Realty LLC
Mls Name: Canopy MLS as distributed by MLS GRID
Mls ID: #4306209