2238 Flatwood RdLenoirNC28645
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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 Lenoir at 2238 Flatwood Rd, Lenoir, NC, 28645 offers a 9.62% rental yield on a $199,900 purchase with $1,603/mo rent. Total monthly income registers $1,603/mo, and a $978/mo payment leaves $385/mo available for distribution. Annual cash flow reaches $4,621/yr on $66,267 to close, and return on cash invested stands at 26.88% in year one. Equity gained on principal adds $1,290/yr while 5% annual appreciation supports $55,229 over five years. Portfolio math shows five-year ROI at 140.16% and total cumulative return in cash at $92,881. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,603/mo property income against a $978/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1974
0.57 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28645, Lenoir, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 21,745 (100%) |
| Owner Occupied HU | 13,505 (62.1%) |
| Renter Occupied HU | 5,791 (26.6%) |
| Vacant Housing Units | 2,449 (11.3%) |
| Median Home Value | $210,906 |
| Average Home Value | $239,578 |
Housing Distribution
Address Breakdown
Residential
20,028
Single Family
19,699
Multi-Family
329
Businesses
1,303
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Listed by: Alisha Walker • Berkshire Hathaway HomeServices Blue Ridge REALTORS
Mls Name: Canopy MLS as distributed by MLS GRID
Mls ID: #4320022