128 W Lake Dr S #505Lake LureNC28746
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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 Lake Lure at 128 W Lake Dr S #505, Lake Lure, NC, 28746 generates $1,837/mo in rent, after a $2,325/mo payment. Total monthly income is $1,837/mo. Return on cash invested sits at 11.85% in year one, and rental yield is 4.64% on a $475,000 entry. Equity gained on principal adds $3,065/yr, while 5% annual appreciation builds toward $131,234 over five years. Five-year ROI reaches 59.47% and total cumulative return in cash sums $93,643. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,837/mo property income rather than buyer’s personal income.
Condo
Built in 1973
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28746, Lake Lure, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,542 (100%) |
| Owner Occupied HU | 1,186 (33.5%) |
| Renter Occupied HU | 219 ( 6.2%) |
| Vacant Housing Units | 2,137 (60.3%) |
| Median Home Value | $441,148 |
| Average Home Value | $561,153 |
Housing Distribution
Address Breakdown
Residential
2,230
Single Family
2,230
Multi-Family
0
Businesses
128
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Listed by: Matthew Mubarak • EXP Realty LLC
Mls Name: Canopy MLS as distributed by MLS GRID
Mls ID: #4320445