2301 S Ridge AveKannapolisNC28083
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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 Kannapolis at 2301 S Ridge Ave, Kannapolis, NC, 28083 uses $72,599 cash to close to unlock $3,158/yr annual cash flow and $263/mo monthly cash flow. Total monthly income runs $1,598/mo, and a $1,072/mo payment keeps the spread at $263/mo. Purchase price stands at $219,000, and rental yield measures 8.76% with $1,598/mo rent. Return on cash invested shows 24.26% in year one, and 5% annual appreciation builds toward $60,506 over five years. Five-year ROI reaches 126.11% and total cumulative return in cash records $91,557. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,598/mo property income covering a $1,072/mo payment rather than investor’s personal income.
Single Family
Built in 1935
0.31 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28083, Kannapolis, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,772 (100%) |
| Owner Occupied HU | 6,682 (56.8%) |
| Renter Occupied HU | 4,231 (35.9%) |
| Vacant Housing Units | 859 ( 7.3%) |
| Median Home Value | $238,551 |
| Average Home Value | $299,940 |
Housing Distribution
Address Breakdown
Residential
11,166
Single Family
10,997
Multi-Family
169
Businesses
756
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Listed by: Wendy Measimer • RE/MAX Leading Edge
Mls Name: Canopy MLS as distributed by MLS GRID
Mls ID: #4307276