223 Manning WayElonNC27244
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
Investment Highlights
Rental property for sale in Elon at 223 Manning Way, Elon, NC, 27244 priced at $240,000 pairs $2,050/mo rent with $587/mo cash flow after a $1,175/mo payment. Total monthly income equals $2,050/mo, and annual cash flow comes to $7,044/yr on $79,560 invested. Return on cash invested is 28.76% in year one, and rental yield stands at 10.25% on a $240,000 basis. Equity gained on principal adds $1,549/yr, and 5% annual appreciation accumulates to $66,308 by year five. Five-year ROI measures 150.18% and total cumulative return in cash reaches $119,486. For financing, Ziffy Mortgage’s DSCR program evaluates $2,050/mo property income against a $1,175/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 2004
4,356 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 27244, Elon College, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,652 (100%) |
| Owner Occupied HU | 3,798 (67.2%) |
| Renter Occupied HU | 1,304 (23.1%) |
| Vacant Housing Units | 550 ( 9.7%) |
| Median Home Value | $303,697 |
| Average Home Value | $318,062 |
Housing Distribution
Address Breakdown
Residential
4,933
Single Family
4,649
Multi-Family
284
Businesses
207
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