131 Spring Grove DrMooresvilleNC28117
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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 Mooresville at 131 Spring Grove Dr, Mooresville, NC, 28117 priced at $479,000 pairs $3,016/mo rent with $97/mo cash flow after a $2,344/mo payment. Total monthly income equals $3,016/mo, and annual cash flow comes to $1,166/yr on $158,789 invested. Return on cash invested is 20.64% in year one, and rental yield stands at 7.56% on a $479,000 basis. Equity gained on principal adds $3,091/yr, and 5% annual appreciation accumulates to $132,339 by year five. Five-year ROI measures 106.68% and total cumulative return in cash reaches $169,395. For financing, Ziffy Mortgage’s DSCR program evaluates $3,016/mo property income against a $2,344/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 1999
0.41 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28117, Mooresville, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 24,357 (100%) |
| Owner Occupied HU | 14,100 (57.9%) |
| Renter Occupied HU | 7,756 (31.8%) |
| Vacant Housing Units | 2,501 (10.3%) |
| Median Home Value | $594,069 |
| Average Home Value | $756,439 |
Housing Distribution
Address Breakdown
Residential
22,737
Single Family
20,043
Multi-Family
2,694
Businesses
2,416
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Listed by: Joseph Davis • Staylakenorman LLC
Mls Name: Canopy MLS as distributed by MLS GRID
Mls ID: #4302670