2141 Phibbs RdElonNC27244
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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 Elon at 2141 Phibbs Rd, Elon, NC, 27244 uses $82,875 cash to close to unlock $6,720/yr annual cash flow and $560/mo monthly cash flow. Total monthly income runs $2,084/mo, and a $1,224/mo payment keeps the spread at $560/mo. Purchase price stands at $250,000, and rental yield measures 10% with $2,084/mo rent. Return on cash invested shows 28.02% in year one, and 5% annual appreciation builds toward $69,070 over five years. Five-year ROI reaches 146.18% and total cumulative return in cash records $121,150. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,084/mo property income covering a $1,224/mo payment rather than investor’s personal income.
Single Family
Built in 1979
0.74 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 27244, Elon College, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,652 (100%) |
| Owner Occupied HU | 3,798 (67.2%) |
| Renter Occupied HU | 1,304 (23.1%) |
| Vacant Housing Units | 550 ( 9.7%) |
| Median Home Value | $303,697 |
| Average Home Value | $318,062 |
Housing Distribution
Address Breakdown
Residential
4,933
Single Family
4,649
Multi-Family
284
Businesses
207
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Listed by: Nadia Avery • Mark Spain Real Estate
Mls Name: Triad MLS
Mls ID: #1204065