303 Sugar Top Dr #2-507Banner ElkNC28604
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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 Banner Elk at 303 Sugar Top Dr #2-507, Banner Elk, NC, 28604 offers a 8.37% rental yield on a $224,500 purchase with $1,566/mo rent. Total monthly income registers $1,566/mo, and a $1,099/mo payment leaves $198/mo available for distribution. Annual cash flow reaches $2,371/yr on $74,422 to close, and return on cash invested stands at 23.1% in year one. Equity gained on principal adds $1,449/yr while 5% annual appreciation supports $62,025 over five years. Portfolio math shows five-year ROI at 119.83% and total cumulative return in cash at $89,180. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,566/mo property income against a $1,099/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1983
N/A lot
$N/A/sqft
No 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
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Listed by: Chrystal Dogan • Fathom Realty NC LLC
Mls Name: Canopy MLS as distributed by MLS GRID
Mls ID: #4299504