281 Michaels Quarry RdNorlinaNC27563
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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
Rental property for sale in Norlina at 281 Michaels Quarry Rd, Norlina, NC, 27563 generates $1,042/mo in rent and, after a $636/mo payment, leaves $250/mo in cash flow. Total monthly income is $1,042/mo, and annual cash flow is $3,000/yr on $43,095 invested. Return on cash invested sits at 26.87% in year one, and rental yield is 9.62% on a $130,000 entry. Equity gained on principal adds $839/yr, while 5% annual appreciation builds toward $35,917 over five years. Five-year ROI reaches 140.01% and total cumulative return in cash sums $60,339. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,042/mo property income rather than buyer’s personal income.
Single Family
Built in 1981
1 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 27563, Norlina, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,220 (100%) |
| Owner Occupied HU | 1,223 (55.1%) |
| Renter Occupied HU | 675 (30.4%) |
| Vacant Housing Units | 322 (14.5%) |
| Median Home Value | $121,843 |
| Average Home Value | $163,295 |
Housing Distribution
Address Breakdown
Residential
1,617
Single Family
1,617
Multi-Family
0
Businesses
105
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Listed by: Kyiandra Somerville • NextHome Veterans First Choice
Mls Name: Doorify MLS
Mls ID: #10118071