116 Shanty Ridge Lane #BBanner ElkNC28604
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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 Banner Elk at 116 Shanty Ridge Lane #B, Banner Elk, NC, 28604 priced at $559,900 converts $2,759/mo rent into after a $2,740/mo obligation. Total monthly income equals $2,759/mo. Return on cash invested prints 15.81% in year one, and rental yield reads 5.91% against a $559,900 entry. Equity gained on principal adds $3,613/yr, while 5% annual appreciation compiles into $154,690 by year five. Five-year ROI reaches 80.71% and total cumulative return in cash sums $148,678. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,759/mo property income covering a $2,740/mo payment, not borrower’s personal income.
Townhouse
Built in 1998
2,178 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28604, Banner Elk, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,910 (100%) |
| Owner Occupied HU | 2,452 (24.7%) |
| Renter Occupied HU | 743 ( 7.5%) |
| Vacant Housing Units | 6,715 (67.8%) |
| Median Home Value | $382,801 |
| Average Home Value | $471,902 |
Housing Distribution
Address Breakdown
Residential
6,320
Single Family
5,791
Multi-Family
529
Businesses
455
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Listed by: Amy Pepin • Premier Sotheby's International Realty- Banner Elk
Mls Name: High Country AOR
Mls ID: #259066