196 Elm StSpindaleNC28160
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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 Spindale at 196 Elm St, Spindale, NC, 28160 generates $1,310/mo in rent and, after a $707/mo payment, leaves $406/mo in cash flow. Total monthly income is $1,310/mo, and annual cash flow is $4,873/yr on $47,902 invested. Return on cash invested sits at 30.08% in year one, and rental yield is 10.88% on a $144,500 entry. Equity gained on principal adds $932/yr, while 5% annual appreciation builds toward $39,923 over five years. Five-year ROI reaches 157.56% and total cumulative return in cash sums $75,475. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,310/mo property income rather than buyer’s personal income.
Single Family
Built in 1928
0.31 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28160, Spindale, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,722 (100%) |
| Owner Occupied HU | 937 (54.4%) |
| Renter Occupied HU | 588 (34.1%) |
| Vacant Housing Units | 197 (11.4%) |
| Median Home Value | $151,008 |
| Average Home Value | $165,173 |
Housing Distribution
Address Breakdown
Residential
1,719
Single Family
1,696
Multi-Family
23
Businesses
263
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Listed by: Debi Morris • Century 21 Mountain Lifestyles/S. Hend
Mls Name: Canopy MLS as distributed by MLS GRID
Mls Provider:
Mls ID: #4222262
Disclaimer: Based on information submitted to the MLS GRID as of 2025-02-21 20:33:57 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](/info/mls-disclaimers/#mls_87)