118 Steam Engine Dr UNIT 103MooresvilleNC28115
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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
Investment property for sale in Mooresville at 118 Steam Engine Dr UNIT 103, Mooresville, NC, 28115 earns $680/mo cash flow from $1,771/mo rent with a $876/mo payment. Total monthly income totals $1,771/mo, and annual cash flow totals $8,162/yr on $59,339 capital. ROI tracks 33.66% on current figures, and rental yield reads 11.87% at a $179,000 purchase. Equity gained on principal adds $1,155/yr, and 5% annual appreciation supports $49,454 over five years. Five-year ROI reaches 176.55% and total cumulative return in cash sums $104,763. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $1,771/mo property income instead of your personal income.
Condo
Built in 2004
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28115, Mooresville, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,468 (100%) |
| Owner Occupied HU | 13,451 (69.1%) |
| Renter Occupied HU | 4,839 (24.9%) |
| Vacant Housing Units | 1,178 ( 6.1%) |
| Median Home Value | $385,269 |
| Average Home Value | $431,366 |
Housing Distribution
Address Breakdown
Residential
18,482
Single Family
17,911
Multi-Family
571
Businesses
1,313
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Listed by: Freddy Karmatz • FK and Associates Real Estate Firm
Mls Name: Canopy MLS as distributed by MLS GRID
Mls ID: #4321944