214 Lakeledge RoadBanner ElkNC28604
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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 Banner Elk at 214 Lakeledge Road, Banner Elk, NC, 28604 listed at $595,000 pairs $3,726/mo rent with a $2,912/mo payment to leave $100/mo cash flow. Total monthly income runs $3,726/mo, and annual cash flow reaches $1,200/yr on $195,755 cash to close. Return on cash invested measures 20.67% in year one, and rental yield registers 7.51% at a $595,000 basis. Equity gained on principal adds $3,839/yr, and annual property appreciation at 5% supports $164,388 by year five. Five-year ROI tracks 106.77% and total cumulative return in cash totals $209,006. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $3,726/mo property income relative to a $2,912/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 2023
0.32 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28604, Banner Elk, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,910 (100%) |
| Owner Occupied HU | 2,452 (24.7%) |
| Renter Occupied HU | 743 ( 7.5%) |
| Vacant Housing Units | 6,715 (67.8%) |
| Median Home Value | $382,801 |
| Average Home Value | $471,902 |
Housing Distribution
Address Breakdown
Residential
6,320
Single Family
5,791
Multi-Family
529
Businesses
455
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Listed by: Karen Barker • Premier Sotheby's Int'l Realty
Mls Name: High Country AOR
Mls ID: #258803