1384 Island Ford RdStatesvilleNC28625
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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 Statesville at 1384 Island Ford Rd, Statesville, NC, 28625 generates $1,544/mo in rent, after a $1,370/mo payment. Total monthly income is $1,544/mo. Return on cash invested sits at 17.81% in year one, and rental yield is 6.62% on a $280,000 entry. Equity gained on principal adds $1,807/yr, while 5% annual appreciation builds toward $77,359 over five years. Five-year ROI reaches 91.48% and total cumulative return in cash sums $84,909. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,544/mo property income rather than buyer’s personal income.
Single Family
Built in 1967
4.60 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28625, Statesville, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,588 (100%) |
| Owner Occupied HU | 12,188 (69.3%) |
| Renter Occupied HU | 4,187 (23.8%) |
| Vacant Housing Units | 1,213 ( 6.9%) |
| Median Home Value | $314,741 |
| Average Home Value | $354,325 |
Housing Distribution
Address Breakdown
Residential
16,663
Single Family
15,291
Multi-Family
1,372
Businesses
907
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Listed by: Tiffany Comeaux • Magnolia Real Estate
Mls Name: Canopy MLS as distributed by MLS GRID
Mls ID: #4329838