243 Skyland AveCharlotteNC28205
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowInvestors targeting immediate dollar income will find 243 Skyland Ave, Charlotte, NC, 28205 in Charlotte hard to pass up. The 11.13% gross yield on a $385,000 purchase results in $3,572/mo in rent and $1,226/mo in net cash, well above the spread required for Ziffy Mortgage's DSCR qualification (2.06). Annual cash flow of $14,712, five-year appreciation of $106,368, and $3,546/yr in equity build-up combine for a projected total cumulative return of $224,692.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 11.1% | 5.5% |
| Monthly Cash Flow | $1,226 | $420 |
City averages based on Charlotte market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,572 |
| Total Monthly Debt Service | $2,193 |
| DSCR Ratio | 1.63x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 2021
0.17 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28205, Charlotte, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 25,956 (100%) |
| Owner Occupied HU | 9,880 (38.1%) |
| Renter Occupied HU | 14,310 (55.1%) |
| Vacant Housing Units | 1,766 ( 6.8%) |
| Median Home Value | $504,731 |
| Average Home Value | $571,606 |
Housing Distribution
Address Breakdown
Residential
25,561
Single Family
20,489
Multi-Family
5,072
Businesses
1,729
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
Single Family
Built in 2021
0.17 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28205, Charlotte, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 25,956 (100%) |
| Owner Occupied HU | 9,880 (38.1%) |
| Renter Occupied HU | 14,310 (55.1%) |
| Vacant Housing Units | 1,766 ( 6.8%) |
| Median Home Value | $504,731 |
| Average Home Value | $571,606 |
Housing Distribution
Address Breakdown
Residential
25,561
Single Family
20,489
Multi-Family
5,072
Businesses
1,729
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Choon Kim • Allen Tate Gastonia
Mls Name: Canopy MLS as distributed by MLS GRID
Mls ID: #4278163