198 Morningside DrEllenboroNC28040
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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 Ellenboro at 198 Morningside Dr, Ellenboro, NC, 28040 uses $49,692 cash to close to unlock $2,641/yr annual cash flow and $220/mo monthly cash flow. Total monthly income runs $1,134/mo, and a $734/mo payment keeps the spread at $220/mo. Purchase price stands at $149,900, and rental yield measures 9.08% with $1,134/mo rent. Return on cash invested shows 25.22% in year one, and 5% annual appreciation builds toward $41,415 over five years. Five-year ROI reaches 131.32% and total cumulative return in cash records $65,255. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,134/mo property income covering a $734/mo payment rather than investor’s personal income.
Single Family
Built in 1950
0.71 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28040, Ellenboro, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,559 (100%) |
| Owner Occupied HU | 2,283 (64.1%) |
| Renter Occupied HU | 792 (22.3%) |
| Vacant Housing Units | 484 (13.6%) |
| Median Home Value | $198,300 |
| Average Home Value | $258,437 |
Housing Distribution
Address Breakdown
Residential
2,977
Single Family
2,977
Multi-Family
0
Businesses
95
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Listed by: Jody Key • Purple Martin Realty, Inc.
Mls Name: Canopy MLS as distributed by MLS GRID
Mls ID: #4278338