220 Charter Hills Road UNIT A2Banner 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 220 Charter Hills Road UNIT A2, Banner Elk, NC, 28604 uses $115,362 cash to close to unlock $7,661/yr annual cash flow and $638/mo monthly cash flow. Total monthly income runs $2,759/mo, and a $1,703/mo payment keeps the spread at $638/mo. Purchase price stands at $347,999, and rental yield measures 9.51% with $2,759/mo rent. Return on cash invested shows 26.55% in year one, and 5% annual appreciation builds toward $96,146 over five years. Five-year ROI reaches 138.36% and total cumulative return in cash records $159,610. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,759/mo property income covering a $1,703/mo payment rather than investor’s personal income.
Condo
Built in 1972
N/A 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: Lori Eastridge • Realty One Group Select
Mls Name: High Country AOR
Mls ID: #258261