2089 Connelly Springs RdLenoirNC28645
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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 Lenoir at 2089 Connelly Springs Rd, Lenoir, NC, 28645 priced at $310,000 converts $2,194/mo rent into $305/mo cash flow after a $1,517/mo obligation. Total monthly income equals $2,194/mo, and annual cash flow totals $3,660/yr on $102,765 invested. Return on cash invested prints 23.47% in year one, and rental yield reads 8.49% against a $310,000 entry. Equity gained on principal adds $2,000/yr, while 5% annual appreciation compiles into $85,647 by year five. Five-year ROI reaches 121.81% and total cumulative return in cash sums $125,179. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,194/mo property income covering a $1,517/mo payment, not borrower’s personal income.
Single Family
Built in 1956
1.70 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28645, Lenoir, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 21,745 (100%) |
| Owner Occupied HU | 13,505 (62.1%) |
| Renter Occupied HU | 5,791 (26.6%) |
| Vacant Housing Units | 2,449 (11.3%) |
| Median Home Value | $210,906 |
| Average Home Value | $239,578 |
Housing Distribution
Address Breakdown
Residential
20,028
Single Family
19,699
Multi-Family
329
Businesses
1,303
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