303 Sugar Top Drive #2101Banner 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 Drive #2101, Banner Elk, NC, 28604 uses $119,009 cash to close to unlock $5,906/yr annual cash flow and $492/mo monthly cash flow. Total monthly income runs $2,680/mo, and a $1,757/mo payment keeps the spread at $492/mo. Purchase price stands at $359,000, and rental yield measures 8.96% with $2,680/mo rent. Return on cash invested shows 24.87% in year one, and 5% annual appreciation builds toward $99,185 over five years. Five-year ROI reaches 129.36% and total cumulative return in cash records $153,943. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,680/mo property income covering a $1,757/mo payment rather than investor’s personal income.
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: Rachel Bird • Realty One Group Results-Boone
Mls Name: High Country AOR
Mls ID: #259561