303 Sugar Top Drive #2306Banner 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
Rental property for sale in Banner Elk at 303 Sugar Top Drive #2306, Banner Elk, NC, 28604 generates $1,576/mo in rent and, after a $1,150/mo payment, leaves $144/mo in cash flow. Total monthly income is $1,576/mo, and annual cash flow is $1,728/yr on $77,903 invested. Return on cash invested sits at 22.13% in year one, and rental yield is 8.05% on a $235,000 entry. Equity gained on principal adds $1,516/yr, while 5% annual appreciation builds toward $64,926 over five years. Five-year ROI reaches 114.58% and total cumulative return in cash sums $89,260. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,576/mo property income rather than buyer’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: Lynne Lear • The Lear Group Real Estate
Mls Name: High Country AOR
Mls ID: #258981