229 N Church St UNIT 404CharlotteNC28202
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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 Charlotte at 229 N Church St UNIT 404, Charlotte, NC, 28202 earns from $6,449/mo rent with a $9,544/mo payment. Total monthly income totals $6,449/mo. ROI tracks 8.81% on current figures, and rental yield reads 3.97% at a $1,950,000 purchase. Equity gained on principal adds $12,583/yr, and 5% annual appreciation supports $538,749 over five years. Five-year ROI reaches 43.55% and total cumulative return in cash sums $275,165. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $6,449/mo property income instead of your personal income.
Condo
Built in 1907
N/A lot
$N/A/sqft
$650 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28202, Charlotte, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,577 (100%) |
| Owner Occupied HU | 2,361 (17.4%) |
| Renter Occupied HU | 9,420 (69.4%) |
| Vacant Housing Units | 1,796 (13.2%) |
| Median Home Value | $536,677 |
| Average Home Value | $631,626 |
Housing Distribution
Address Breakdown
Residential
12,764
Single Family
3,910
Multi-Family
8,854
Businesses
1,224
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Listed by: Shane McDevitt • The McDevitt Agency
Mls Name: Canopy MLS as distributed by MLS GRID
Mls Provider:
Mls ID: #4142890
Disclaimer: Based on information submitted to the MLS GRID as of 2024-01-24 10:55:15 PST. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. [Click here for more information](/info/mls-disclaimers/#mls_87)