1402 Martin Luther King Jr AveKannapolisNC28083
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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 Kannapolis at 1402 Martin Luther King Jr Ave, Kannapolis, NC, 28083 offers a 7.95% rental yield on a $325,000 purchase with $2,152/mo rent. Total monthly income registers $2,152/mo, and a $1,591/mo payment leaves $171/mo available for distribution. Annual cash flow reaches $2,052/yr on $107,738 to close, and return on cash invested stands at 21.81% in year one. Equity gained on principal adds $2,097/yr while 5% annual appreciation supports $89,792 over five years. Portfolio math shows five-year ROI at 112.91% and total cumulative return in cash at $121,645. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,152/mo property income against a $1,591/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Home Type Unknown
Built in 2022
0.32 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28083, Kannapolis, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,772 (100%) |
| Owner Occupied HU | 6,682 (56.8%) |
| Renter Occupied HU | 4,231 (35.9%) |
| Vacant Housing Units | 859 ( 7.3%) |
| Median Home Value | $238,551 |
| Average Home Value | $299,940 |
Housing Distribution
Address Breakdown
Residential
11,166
Single Family
10,997
Multi-Family
169
Businesses
756
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