1553 16th Ave NE #7HickoryNC28601
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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 Hickory at 1553 16th Ave NE #7, Hickory, NC, 28601 uses $74,588 cash to close to unlock $3,108/yr annual cash flow and $259/mo monthly cash flow. Total monthly income runs $1,630/mo, and a $1,101/mo payment keeps the spread at $259/mo. Purchase price stands at $225,000, and rental yield measures 8.69% with $1,630/mo rent. Return on cash invested shows 24.08% in year one, and 5% annual appreciation builds toward $62,163 over five years. Five-year ROI reaches 125.04% and total cumulative return in cash records $93,261. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,630/mo property income covering a $1,101/mo payment rather than investor’s personal income.
Condo
Built in 1995
0.03 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28601, Hickory, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 25,555 (100%) |
| Owner Occupied HU | 15,015 (58.8%) |
| Renter Occupied HU | 8,486 (33.2%) |
| Vacant Housing Units | 2,054 ( 8.0%) |
| Median Home Value | $303,595 |
| Average Home Value | $360,678 |
Housing Distribution
Address Breakdown
Residential
24,340
Single Family
22,229
Multi-Family
2,111
Businesses
1,506
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Listed by: Cortney Robinson • True North Realty
Mls Name: Canopy MLS as distributed by MLS GRID
Mls ID: #4316945