221 Upper Grouse Ridge RoadBanner 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 221 Upper Grouse Ridge Road, Banner Elk, NC, 28604 priced at $559,999 converts $4,031/mo rent into $618/mo cash flow after a $2,741/mo obligation. Total monthly income equals $4,031/mo, and annual cash flow totals $7,416/yr on $184,240 invested. Return on cash invested prints 24.09% in year one, and rental yield reads 8.64% against a $559,999 entry. Equity gained on principal adds $3,614/yr, while 5% annual appreciation compiles into $154,717 by year five. Five-year ROI reaches 125.07% and total cumulative return in cash sums $230,429. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $4,031/mo property income covering a $2,741/mo payment, not borrower’s personal income.
Single Family
Built in 1983
0.34 Acres 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: Melissa Berkheimer • Buchanan Real Estate
Mls Name: High Country AOR
Mls Provider:
Mls ID: #251990
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.