113 7th StSpencerNC28159
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
Investment property for sale in Spencer at 113 7th St, Spencer, NC, 28159 uses $74,588 cash to close to unlock $2,424/yr annual cash flow and $202/mo monthly cash flow. Total monthly income runs $1,573/mo, and a $1,101/mo payment keeps the spread at $202/mo. Purchase price stands at $225,000, and rental yield measures 8.39% with $1,573/mo rent. Return on cash invested shows 23.16% in year one, and 5% annual appreciation builds toward $62,163 over five years. Five-year ROI reaches 120.13% and total cumulative return in cash records $89,601. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,573/mo property income covering a $1,101/mo payment rather than investor’s personal income.
Single Family
Built in 1920
0.17 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28159, Spencer, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,419 (100%) |
| Owner Occupied HU | 742 (52.3%) |
| Renter Occupied HU | 502 (35.4%) |
| Vacant Housing Units | 175 (12.3%) |
| Median Home Value | $187,342 |
| Average Home Value | $265,425 |
Housing Distribution
Address Breakdown
Residential
1,297
Single Family
1,289
Multi-Family
8
Businesses
128
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Scott Bauknight • Lifestyle International Realty
Mls Name: Canopy MLS as distributed by MLS GRID
Mls ID: #4330581