130 Old Mill Rd #223Flat RockNC28731
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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 Flat Rock at 130 Old Mill Rd #223, Flat Rock, NC, 28731 generates $1,320/mo in rent and, after a $967/mo payment, leaves $116/mo in cash flow. Total monthly income is $1,320/mo, and annual cash flow is $1,392/yr on $65,471 invested. Return on cash invested sits at 22.04% in year one, and rental yield is 8.02% on a $197,500 entry. Equity gained on principal adds $1,274/yr, while 5% annual appreciation builds toward $54,566 over five years. Five-year ROI reaches 114.12% and total cumulative return in cash sums $74,715. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,320/mo property income rather than buyer’s personal income.
Condo
Built in 1952
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28731, Flat Rock, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,837 (100%) |
| Owner Occupied HU | 3,286 (67.9%) |
| Renter Occupied HU | 759 (15.7%) |
| Vacant Housing Units | 792 (16.4%) |
| Median Home Value | $426,195 |
| Average Home Value | $467,902 |
Housing Distribution
Address Breakdown
Residential
4,517
Single Family
4,376
Multi-Family
141
Businesses
351
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Listed by: Julie Mallett • Howard Hanna Beverly-Hanks
Mls Name: Canopy MLS as distributed by MLS GRID
Mls ID: #4335418