218 Elk Hill Drive UNIT 4Banner 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 218 Elk Hill Drive UNIT 4, Banner Elk, NC, 28604 with 5% annual appreciation on a $199,999 basis while $2,044/mo rent supports operations. Total monthly income totals $2,044/mo and a $979/mo payment preserves $675/mo for cash returns. Annual cash flow comes to $8,100/yr on $66,300 deployed, and return on cash invested reaches 32.13% in year one. Equity gained on principal adds $1,291/yr, and five-year appreciation sums $55,256 alongside rental yield of 12.26%. Five-year ROI measures 169.22% and total cumulative return in cash totals $112,196.
Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $2,044/mo property income versus a $979/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.
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: Marjorie Hyatt • Hyatt In The High Country, Inc.
Mls Name: High Country AOR
Mls Provider:
Mls ID: #251341
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.