119 S Lee StSalisburyNC28144
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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 Salisbury at 119 S Lee St, Salisbury, NC, 28144 priced at $229,900 converts $1,380/mo rent into after a $1,125/mo obligation. Total monthly income equals $1,380/mo. Return on cash invested prints 14.34% in year one, and rental yield reads 7.2% against a $229,900 entry. Equity gained on principal adds $1,484/yr, while 5% annual appreciation compiles into $63,517 by year five. Five-year ROI reaches 74.79% and total cumulative return in cash sums $56,999. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,380/mo property income covering a $1,125/mo payment, not borrower’s personal income.
Condo
Built in 2005
N/A lot
$N/A/sqft
$251 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28144, Salisbury, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,134 (100%) |
| Owner Occupied HU | 6,065 (50.0%) |
| Renter Occupied HU | 4,831 (39.8%) |
| Vacant Housing Units | 1,238 (10.2%) |
| Median Home Value | $267,215 |
| Average Home Value | $297,064 |
Housing Distribution
Address Breakdown
Residential
11,029
Single Family
10,382
Multi-Family
647
Businesses
1,108
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Listed by: Mary Arey • Arey Realty
Mls Name: Triad MLS
Mls Provider:
Mls ID: #1169907
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