114 W 6th AveRed SpringsNC28377
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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 Red Springs at 114 W 6th Ave, Red Springs, NC, 28377 priced at $115,000 converts $868/mo rent into $130/mo cash flow after a $563/mo obligation. Total monthly income equals $868/mo, and annual cash flow totals $1,560/yr on $38,123 invested. Return on cash invested prints 24% in year one, and rental yield reads 9.06% against a $115,000 entry. Equity gained on principal adds $742/yr, while 5% annual appreciation compiles into $31,772 by year five. Five-year ROI reaches 125.21% and total cumulative return in cash sums $47,733. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $868/mo property income covering a $563/mo payment, not borrower’s personal income.
Single Family
Built in 1954
0.56 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28377, Red Springs, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,642 (100%) |
| Owner Occupied HU | 2,818 (60.7%) |
| Renter Occupied HU | 1,390 (29.9%) |
| Vacant Housing Units | 434 ( 9.3%) |
| Median Home Value | $115,417 |
| Average Home Value | $150,295 |
Housing Distribution
Address Breakdown
Residential
4,418
Single Family
4,312
Multi-Family
106
Businesses
280
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Listed by: DORIS WILLIAMS • ERA STROTHER REAL ESTATE
Mls Name: LPRMLS
Mls Provider:
Mls ID: #742816
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.