1242 E I St #27NewtonNC28658
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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 Newton at 1242 E I St #27, Newton, NC, 28658 offers a 10.34% rental yield on a $229,500 purchase with $1,978/mo rent. Total monthly income registers $1,978/mo, and a $1,123/mo payment leaves $580/mo available for distribution. Annual cash flow reaches $6,955/yr on $76,079 to close, and return on cash invested stands at 29.05% in year one. Equity gained on principal adds $1,481/yr while 5% annual appreciation supports $63,407 over five years. Portfolio math shows five-year ROI at 151.76% and total cumulative return in cash at $115,458. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,978/mo property income against a $1,123/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 2001
0.35 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28658, Newton, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,999 (100%) |
| Owner Occupied HU | 7,720 (64.3%) |
| Renter Occupied HU | 3,346 (27.9%) |
| Vacant Housing Units | 933 ( 7.8%) |
| Median Home Value | $260,617 |
| Average Home Value | $327,980 |
Housing Distribution
Address Breakdown
Residential
11,049
Single Family
10,606
Multi-Family
443
Businesses
793
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Listed by: Diane Dick • Apple Realty of Lincolnton
Mls Name: Canopy MLS as distributed by MLS GRID
Mls Provider:
Mls ID: #4182300
Disclaimer: Based on information submitted to the MLS GRID as of 2024-01-24 10:55:15 PST. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. [Click here for more information](/info/mls-disclaimers/#mls_87)