218 Elk Hill #8Banner 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
Rental property for sale in Banner Elk at 218 Elk Hill #8, Banner Elk, NC, 28604 generates $5,040/mo in rent and, after a $832/mo payment, leaves $3,854/mo in cash flow. Total monthly income is $5,040/mo, and annual cash flow is $46,248/yr on $56,355 invested. Return on cash invested sits at 101.97% in year one, and rental yield is 35.58% on a $170,000 entry. Equity gained on principal adds $1,097/yr, while 5% annual appreciation builds toward $46,968 over five years. Five-year ROI reaches 543.94% and total cumulative return in cash sums $306,537. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $5,040/mo property income rather than buyer’s personal income.
Condo
Built in 1983
N/A lot
$N/A/sqft
$150 monthly 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: Elyse McDaniel • Fathom Realty NC LLC
Mls Name: High Country AOR
Mls Provider:
Mls ID: #255561
Disclaimer: IDX information is provided exclusively for consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS.