188 Gays Chapel RdStatesvilleNC28625
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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 Statesville at 188 Gays Chapel Rd, Statesville, NC, 28625 uses $112,710 cash to close to unlock $612/yr annual cash flow and $51/mo monthly cash flow. Total monthly income runs $2,123/mo, and a $1,664/mo payment keeps the spread at $51/mo. Purchase price stands at $340,000, and rental yield measures 7.49% with $2,123/mo rent. Return on cash invested shows 20.45% in year one, and 5% annual appreciation builds toward $93,936 over five years. Five-year ROI reaches 105.61% and total cumulative return in cash records $119,034. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,123/mo property income covering a $1,664/mo payment rather than investor’s personal income.
Single Family
Built in 1995
3.60 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28625, Statesville, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,588 (100%) |
| Owner Occupied HU | 12,188 (69.3%) |
| Renter Occupied HU | 4,187 (23.8%) |
| Vacant Housing Units | 1,213 ( 6.9%) |
| Median Home Value | $314,741 |
| Average Home Value | $354,325 |
Housing Distribution
Address Breakdown
Residential
16,663
Single Family
15,291
Multi-Family
1,372
Businesses
907
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Listed by: Grace Cunningham • RE/MAX Properties Plus, Inc.
Mls Name: Canopy MLS as distributed by MLS GRID
Mls ID: #4301914