256 Iron Mine RdWallaceNC28466
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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 Wallace at 256 Iron Mine Rd, Wallace, NC, 28466 listed at $180,000 pairs $1,794/mo rent with a $881/mo payment to leave $697/mo cash flow. Total monthly income runs $1,794/mo, and annual cash flow reaches $8,364/yr on $59,670 cash to close. Return on cash invested measures 33.93% in year one, and rental yield registers 11.96% at a $180,000 basis. Equity gained on principal adds $1,162/yr, and annual property appreciation at 5% supports $49,731 by year five. Five-year ROI tracks 177.89% and total cumulative return in cash totals $106,145. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,794/mo property income relative to a $881/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Manufactured
Built in 2020
0.90 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28466, Wallace, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,280 (100%) |
| Owner Occupied HU | 2,463 (57.5%) |
| Renter Occupied HU | 950 (22.2%) |
| Vacant Housing Units | 867 (20.3%) |
| Median Home Value | $229,823 |
| Average Home Value | $283,378 |
Housing Distribution
Address Breakdown
Residential
4,060
Single Family
3,425
Multi-Family
635
Businesses
491
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Listed by: N/A • N/A
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Mls ID: #N/A