248 Rainy Beck WayErwinNC28339
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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 Erwin at 248 Rainy Beck Way, Erwin, NC, 28339 offers $2,662/mo rent that, after a $1,659/mo payment, leaves $596/mo cash flow. Total monthly income is $2,662/mo, and annual cash flow is $7,156/yr on $112,345 cash. Return on cash invested measures 26.28% in year one, and rental yield stands at 9.43% at a $338,900 entry. Equity gained on principal adds $2,187/yr while 5% annual appreciation compounds into $93,632 by year five. Five-year ROI records 136.9% and total cumulative return in cash reaches $153,801. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,662/mo property income versus a $1,659/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 2022
0.51 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28339, Erwin, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,052 (100%) |
| Owner Occupied HU | 1,911 (62.6%) |
| Renter Occupied HU | 805 (26.4%) |
| Vacant Housing Units | 336 (11.0%) |
| Median Home Value | $187,990 |
| Average Home Value | $210,022 |
Housing Distribution
Address Breakdown
Residential
2,980
Single Family
2,980
Multi-Family
0
Businesses
269
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Listed by: TERESA VIEW • MANNING REALTY
Mls Name: LPRMLS
Mls ID: #754069