24 Creekside Drive #ABanner ElkNC28604
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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 Banner Elk at 24 Creekside Drive #A, Banner Elk, NC, 28604 with 5% annual appreciation on a $219,000 basis while $1,551/mo rent supports operations. Total monthly income totals $1,551/mo and a $1,072/mo payment preserves $216/mo for cash returns. Annual cash flow comes to $2,594/yr on $72,599 deployed, and return on cash invested reaches 23.48% in year one. Equity gained on principal adds $1,413/yr, and five-year appreciation sums $60,506 alongside rental yield of 8.5%. Five-year ROI measures 121.93% and total cumulative return in cash totals $88,521.
Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $1,551/mo property income versus a $1,072/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.
Condo
Built in 1983
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28604, Banner Elk, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,910 (100%) |
| Owner Occupied HU | 2,452 (24.7%) |
| Renter Occupied HU | 743 ( 7.5%) |
| Vacant Housing Units | 6,715 (67.8%) |
| Median Home Value | $382,801 |
| Average Home Value | $471,902 |
Housing Distribution
Address Breakdown
Residential
6,320
Single Family
5,791
Multi-Family
529
Businesses
455
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Listed by: Glo Kearns • RE/MAX Realty Group
Mls Name: High Country AOR
Mls ID: #258906