138 Springhouse Drive #C2Elk 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
Rental property for sale in Elk Park at 138 Springhouse Drive #C2, Elk Park, NC, 28622 generates $2,827/mo in rent, after a $3,549/mo payment. Total monthly income is $2,827/mo. Return on cash invested sits at 12.05% in year one, and rental yield is 4.68% on a $725,000 entry. Equity gained on principal adds $4,678/yr, while 5% annual appreciation builds toward $200,304 over five years. Five-year ROI reaches 60.53% and total cumulative return in cash sums $144,389. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,827/mo property income rather than buyer’s personal income.
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: Christy Lombardozzi • Keller Williams High Country
Mls Name: High Country AOR
Mls ID: #258867