2942 Reid AveCharlotteNC28208
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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 Charlotte at 2942 Reid Ave, Charlotte, NC, 28208 generates $1,065/mo in rent and, after a $685/mo payment, leaves $212/mo in cash flow. Total monthly income is $1,065/mo, and annual cash flow is $2,544/yr on $46,410 invested. Return on cash invested sits at 25.39% in year one, and rental yield is 9.13% on a $140,000 entry. Equity gained on principal adds $903/yr, while 5% annual appreciation builds toward $38,679 over five years. Five-year ROI reaches 132.1% and total cumulative return in cash sums $61,306. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,065/mo property income rather than buyer’s personal income.
Single Family
Built in 1926
0.14 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28208, Charlotte, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,659 (100%) |
| Owner Occupied HU | 6,538 (33.3%) |
| Renter Occupied HU | 11,065 (56.3%) |
| Vacant Housing Units | 2,056 (10.5%) |
| Median Home Value | $235,220 |
| Average Home Value | $316,487 |
Housing Distribution
Address Breakdown
Residential
17,498
Single Family
14,332
Multi-Family
3,166
Businesses
1,696
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Listed by: Nelson Grassi • JET Realty Carolinas
Mls Name: Canopy MLS as distributed by MLS GRID
Mls ID: #4271508