175 Ridgeview Road UNIT 2Banner ElkNC28604
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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 Banner Elk at 175 Ridgeview Road UNIT 2, Banner Elk, NC, 28604 generates $2,118/mo in rent and, after a $1,508/mo payment, leaves $240/mo in cash flow. Total monthly income is $2,118/mo, and annual cash flow is $2,885/yr on $102,102 invested. Return on cash invested sits at 22.73% in year one, and rental yield is 8.25% on a $308,000 entry. Equity gained on principal adds $1,987/yr, while 5% annual appreciation builds toward $85,095 over five years. Five-year ROI reaches 117.89% and total cumulative return in cash sums $120,364. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,118/mo property income rather than buyer’s personal income.
Condo
Built in 1983
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28604, Banner Elk, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,910 (100%) |
| Owner Occupied HU | 2,452 (24.7%) |
| Renter Occupied HU | 743 ( 7.5%) |
| Vacant Housing Units | 6,715 (67.8%) |
| Median Home Value | $382,801 |
| Average Home Value | $471,902 |
Housing Distribution
Address Breakdown
Residential
6,320
Single Family
5,791
Multi-Family
529
Businesses
455
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Listed by: Patricia Combs • Combs Carolina Properties Inc
Mls Name: High Country AOR
Mls ID: #257449