1608 Herrin AveCharlotteNC28205
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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
Total monthly income runs $1,444/mo, and a $1,439/mo payment. Purchase price stands at $294,000, and rental yield measures 5.89% with $1,444/mo rent. Return on cash invested shows 13.67% in year one, and 5% annual appreciation builds toward $81,227 over five years. Five-year ROI reaches 70.01% and total cumulative return in cash records $68,232. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,444/mo property income covering a $1,439/mo payment rather than investor’s personal income.
Condo
Built in 1964
N/A lot
$N/A/sqft
$159 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28205, Charlotte, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 25,956 (100%) |
| Owner Occupied HU | 9,880 (38.1%) |
| Renter Occupied HU | 14,310 (55.1%) |
| Vacant Housing Units | 1,766 ( 6.8%) |
| Median Home Value | $504,731 |
| Average Home Value | $571,606 |
Housing Distribution
Address Breakdown
Residential
25,561
Single Family
20,489
Multi-Family
5,072
Businesses
1,729
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Listed by: Raquel Clark • EXP Realty LLC Ballantyne
Mls Name: Canopy MLS as distributed by MLS GRID
Mls Provider:
Mls ID: #4321496
Disclaimer: Based on information submitted to the MLS GRID as of 2025-12-03 08:33:15 PST. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. [Click here for more information](/mls-disclaimers/#87)