193 Little Grindstone LaneMillers CreekNC28651
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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 Millers Creek at 193 Little Grindstone Lane, Millers Creek, NC, 28651 uses $36,134 cash to close to unlock $4,862/yr annual cash flow and $405/mo monthly cash flow. Total monthly income runs $1,070/mo, and a $534/mo payment keeps the spread at $405/mo. Purchase price stands at $109,000, and rental yield measures 11.78% with $1,070/mo rent. Return on cash invested shows 33.37% in year one, and 5% annual appreciation builds toward $30,115 over five years. Five-year ROI reaches 174.98% and total cumulative return in cash records $63,226. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,070/mo property income covering a $534/mo payment rather than investor’s personal income.
Single Family
Built in 1994
0.34 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28651, Millers Creek, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,099 (100%) |
| Owner Occupied HU | 2,005 (64.7%) |
| Renter Occupied HU | 638 (20.6%) |
| Vacant Housing Units | 456 (14.7%) |
| Median Home Value | $227,251 |
| Average Home Value | $262,168 |
Housing Distribution
Address Breakdown
Residential
2,578
Single Family
2,578
Multi-Family
0
Businesses
99
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Listed by: Candace Anderson • Ward & Ward Properties
Mls Name: High Country AOR
Mls ID: #259377