1359 Seven Devils Road #506Banner ElkNC28604
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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 Banner Elk at 1359 Seven Devils Road #506, Banner Elk, NC, 28604 offers a 8.02% rental yield on a $449,000 purchase with $2,999/mo rent. Total monthly income registers $2,999/mo, and a $2,198/mo payment leaves $262/mo available for distribution. Annual cash flow reaches $3,146/yr on $148,844 to close, and return on cash invested stands at 22.02% in year one. Equity gained on principal adds $2,897/yr while 5% annual appreciation supports $124,050 over five years. Portfolio math shows five-year ROI at 114.07% and total cumulative return in cash at $169,792. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,999/mo property income against a $2,198/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1998
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28604, Banner Elk, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,910 (100%) |
| Owner Occupied HU | 2,452 (24.7%) |
| Renter Occupied HU | 743 ( 7.5%) |
| Vacant Housing Units | 6,715 (67.8%) |
| Median Home Value | $382,801 |
| Average Home Value | $471,902 |
Housing Distribution
Address Breakdown
Residential
6,320
Single Family
5,791
Multi-Family
529
Businesses
455
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Listed by: Madison Doble • Keller Williams High Country
Mls Name: High Country AOR
Mls ID: #257993