203 N Water Street UNIT AElizabeth CityNC27909
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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 Elizabeth City at 203 N Water Street UNIT A, Elizabeth City, NC, 27909 priced at $599,000 converts $2,814/mo rent into after a $2,932/mo obligation. Total monthly income equals $2,814/mo. Return on cash invested prints 12.24% in year one, and rental yield reads 5.64% against a $599,000 entry. Equity gained on principal adds $3,865/yr, while 5% annual appreciation compiles into $165,493 by year five. Five-year ROI reaches 62.54% and total cumulative return in cash sums $123,250. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,814/mo property income covering a $2,932/mo payment, not borrower’s personal income.
Condo
Built in 2006
N/A lot
$N/A/sqft
$3,808 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 27909, Elizabeth City, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,132 (100%) |
| Owner Occupied HU | 10,487 (57.8%) |
| Renter Occupied HU | 5,861 (32.3%) |
| Vacant Housing Units | 1,784 ( 9.8%) |
| Median Home Value | $256,977 |
| Average Home Value | $298,406 |
Housing Distribution
Address Breakdown
Residential
17,483
Single Family
17,279
Multi-Family
204
Businesses
1,292
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Listed by: Heather And Company • Water Street Real Estate Group
Mls Name: Hive MLS
Mls Provider:
Mls ID: #100455375
Disclaimer: The data relating to real estate on this web site comes in part from the Internet Data Exchange program of Hive MLS, and is updated as of 2024-10-17 08:18:46 PDT. All information is deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor Zillow, Inc. shall be responsible for any typographical errors, misinformation, or misprints, and shall be held totally harmless from any damages arising from reliance upon these data. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. 2024-10-17 08:18:46 PDT Hive MLS