138 Spring House Drive UNIT C4Elk ParkNC28622
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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 Elk Park at 138 Spring House Drive UNIT C4, Elk Park, NC, 28622 listed at $765,000 pairs $2,886/mo rent with a $3,744/mo payment. Total monthly income runs $2,886/mo. Return on cash invested measures 11.59% in year one, and rental yield registers 4.53% at a $765,000 basis. Equity gained on principal adds $4,936/yr, and annual property appreciation at 5% supports $211,355 by year five. Five-year ROI tracks 58.08% and total cumulative return in cash totals $146,183. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $2,886/mo property income relative to a $3,744/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Condo
Built in 2006
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28622, Elk Park, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,449 (100%) |
| Owner Occupied HU | 819 (56.5%) |
| Renter Occupied HU | 254 (17.5%) |
| Vacant Housing Units | 376 (25.9%) |
| Median Home Value | $243,699 |
| Average Home Value | $309,939 |
Housing Distribution
Address Breakdown
Residential
1,016
Single Family
961
Multi-Family
55
Businesses
44
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Listed by: Linda Cramblit • Blue Ridge Realty & Inv. - Banner Elk
Mls Name: High Country AOR
Mls ID: #256595