1422 Midlake RdKannapolisNC28083
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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 1422 Midlake Rd, Kannapolis, NC, 28083 uses $111,053 cash to close to unlock $504/yr annual cash flow and $42/mo monthly cash flow. Total monthly income runs $2,084/mo, and a $1,640/mo payment keeps the spread at $42/mo. Purchase price stands at $335,000, and rental yield measures 7.47% with $2,084/mo rent. Return on cash invested shows 20.36% in year one, and 5% annual appreciation builds toward $92,554 over five years. Five-year ROI reaches 105.14% and total cumulative return in cash records $116,756. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,084/mo property income covering a $1,640/mo payment rather than investor’s personal income.
Single Family
Built in 1988
0.28 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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Listed by: Donna Collier • Carolina Homes Connection, LLC
Mls Name: Canopy MLS as distributed by MLS GRID
Mls ID: #4309977