117 3rd Ave SWHickoryNC28602
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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 Hickory at 117 3rd Ave SW, Hickory, NC, 28602 generates $1,280/mo in rent and, after a $685/mo payment, leaves $427/mo in cash flow. Total monthly income is $1,280/mo, and annual cash flow is $5,125/yr on $46,377 invested. Return on cash invested sits at 30.96% in year one, and rental yield is 10.98% on a $139,900 entry. Equity gained on principal adds $903/yr, while 5% annual appreciation builds toward $38,652 over five years. Five-year ROI reaches 162.09% and total cumulative return in cash sums $75,171. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,280/mo property income rather than buyer’s personal income.
Single Family
Built in 1940
0.14 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28602, Hickory, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,156 (100%) |
| Owner Occupied HU | 8,012 (60.9%) |
| Renter Occupied HU | 3,979 (30.2%) |
| Vacant Housing Units | 1,165 ( 8.9%) |
| Median Home Value | $226,054 |
| Average Home Value | $256,746 |
Housing Distribution
Address Breakdown
Residential
12,634
Single Family
11,779
Multi-Family
855
Businesses
1,733
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Listed by: Tiffany Gray-Napier • Better Homes and Gardens Real Estate Foothills
Mls Name: Canopy MLS as distributed by MLS GRID
Mls ID: #4280297