238 Phillips DrForest CityNC28043
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 Forest City at 238 Phillips Dr, Forest City, NC, 28043 offers $1,017/mo rent that, after a $631/mo payment, leaves $231/mo cash flow. Total monthly income is $1,017/mo, and annual cash flow is $2,774/yr on $42,764 cash. Return on cash invested measures 26.4% in year one, and rental yield stands at 9.46% at a $129,000 entry. Equity gained on principal adds $832/yr while 5% annual appreciation compounds into $35,640 by year five. Five-year ROI records 137.61% and total cumulative return in cash reaches $58,849. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,017/mo property income versus a $631/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1995
0.46 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28043, Forest City, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,637 (100%) |
| Owner Occupied HU | 5,493 (57.0%) |
| Renter Occupied HU | 3,132 (32.5%) |
| Vacant Housing Units | 1,012 (10.5%) |
| Median Home Value | $202,580 |
| Average Home Value | $253,010 |
Housing Distribution
Address Breakdown
Residential
8,624
Single Family
8,478
Multi-Family
146
Businesses
951
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Andrea Ochoa • Collective Realty LLC
Mls Name: Canopy MLS as distributed by MLS GRID
Mls Provider:
Mls ID: #4200999
Disclaimer: Based on information submitted to the MLS GRID as of 2025-02-20 23:58:50 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)