271 Elk Creek Drive UNIT BBanner ElkNC28604
INVESTMENT ANALYSIS
Investment Verdict
Income-ProducingSteady, low-maintenance, and fundable: 271 Elk Creek Drive UNIT B, Banner Elk, NC, 28604 in Banner Elk at $639,500. Rental yield 6.1%. The 6.1% yield and 1.13 DSCR put this right in the range Ziffy Mortgage approves for non-U.S. investors without W-2s or domestic credit. Appreciation at 5%/yr is projected to add $176,682 by year five, and $5,890/yr in principal reduction steadily grows the investor's stake. Total projected cumulative return: $182,623.
| This Property | National Avg | |
|---|---|---|
| Gross Rental Yield | 6.1% | 6.2% |
| Monthly Cash Flow | $(947) | $180 |
National averages based on 2024–2025 U.S. residential rental market data. Content is user-generated and unverified.
DSCR Loan Qualification
| Monthly Rental Income | $3,251 |
| Total Monthly Debt Service | $3,943 |
| DSCR Ratio | 0.82x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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.
Townhouse
Built in 2006
1,306 sqft lot
$N/A/sqft
$900 quarterly 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
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
Townhouse
Built in 2006
1,306 sqft lot
$N/A/sqft
$900 quarterly 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Dawn Berry • Harry Berry Realty
Mls Name: High Country AOR
Mls Provider:
Mls ID: #254523
Disclaimer: IDX information is provided exclusively for consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS.