119 Steam Engine Dr UNIT 102MooresvilleNC28115
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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 119 Steam Engine Dr UNIT 102, Mooresville, NC, 28115 listed at $159,999 pairs $1,261/mo rent with a $783/mo payment to leave $286/mo cash flow. Total monthly income runs $1,261/mo, and annual cash flow reaches $3,432/yr on $53,040 cash to close. Return on cash invested measures 26.38% in year one, and rental yield registers 9.46% at a $159,999 basis. Equity gained on principal adds $1,032/yr, and annual property appreciation at 5% supports $44,205 by year five. Five-year ROI tracks 137.4% and total cumulative return in cash totals $72,877. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,261/mo property income relative to a $783/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Condo
Built in 2003
0.02 Acres 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: Marcus Benjamin • EXP Realty LLC Mooresville
Mls Name: Canopy MLS as distributed by MLS GRID
Mls ID: #4314398