1242 Mitchell AveStatesvilleNC28677
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Nearby investment properties with comparable prices
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 Statesville at 1242 Mitchell Ave, Statesville, NC, 28677 generates $1,389/mo in rent and, after a $905/mo payment, leaves $262/mo in cash flow. Total monthly income is $1,389/mo, and annual cash flow is $3,144/yr on $61,328 invested. Return on cash invested sits at 25.04% in year one, and rental yield is 9.01% on a $185,000 entry. Equity gained on principal adds $1,194/yr, while 5% annual appreciation builds toward $51,112 over five years. Five-year ROI reaches 130.2% and total cumulative return in cash sums $79,851. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,389/mo property income rather than buyer’s personal income.
Single Family
Built in 1950
1 Acres lot
$N/A/sqft
No HOA
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Nearby investment properties with comparable prices
Listed by: Michael Lassiter • Lassiter Realty
Mls Name: Canopy MLS as distributed by MLS GRID
Mls Provider:
Mls ID: #4274790
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