2208 Seneca DrRaleighNC27604
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderInvestors who treat current yield as secondary to long-run equity growth will find 2208 Seneca Dr, Raleigh, NC, 27604 in Raleigh worth modelling. At $404,500 with a 7.68% gross yield, the $2,197/mo rent leaves $55/mo after the $1,819/mo payment, sufficient to cover costs, modest in distribution. Ziffy Mortgage's 1.21 DSCR loan can finance the acquisition without personal income documentation. Appreciation of 5%/yr is projected to add $111,756 by year five; $3,725/yr in principal reduction adds further equity. Total projected return: $132,479.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 7.7% | 5.8% |
| Monthly Cash Flow | $55 | $1,850 |
City averages based on Raleigh market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,197 |
| Total Monthly Debt Service | $2,362 |
| DSCR Ratio | 0.93x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in N/A
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 27604, Raleigh, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 21,536 (100%) |
| Owner Occupied HU | 10,043 (46.6%) |
| Renter Occupied HU | 10,329 (48.0%) |
| Vacant Housing Units | 1,164 ( 5.4%) |
| Median Home Value | $340,004 |
| Average Home Value | $401,875 |
Housing Distribution
Address Breakdown
Residential
20,430
Single Family
16,920
Multi-Family
3,510
Businesses
1,579
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Single Family
Built in N/A
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 27604, Raleigh, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 21,536 (100%) |
| Owner Occupied HU | 10,043 (46.6%) |
| Renter Occupied HU | 10,329 (48.0%) |
| Vacant Housing Units | 1,164 ( 5.4%) |
| Median Home Value | $340,004 |
| Average Home Value | $401,875 |
Housing Distribution
Address Breakdown
Residential
20,430
Single Family
16,920
Multi-Family
3,510
Businesses
1,579
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices