304 Salem StLexingtonNC27292
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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 Lexington at 304 Salem St, Lexington, NC, 27292 uses $38,123 cash to close to unlock $2,652/yr annual cash flow and $221/mo monthly cash flow. Total monthly income runs $922/mo, and a $563/mo payment keeps the spread at $221/mo. Purchase price stands at $115,000, and rental yield measures 9.62% with $922/mo rent. Return on cash invested shows 26.87% in year one, and 5% annual appreciation builds toward $31,772 over five years. Five-year ROI reaches 140% and total cumulative return in cash records $53,373. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $922/mo property income covering a $563/mo payment rather than investor’s personal income.
Single Family
Built in 1907
0.20 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 27292, Lexington, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,311 (100%) |
| Owner Occupied HU | 11,686 (60.5%) |
| Renter Occupied HU | 5,337 (27.6%) |
| Vacant Housing Units | 2,288 (11.8%) |
| Median Home Value | $238,816 |
| Average Home Value | $280,651 |
Housing Distribution
Address Breakdown
Residential
17,605
Single Family
16,969
Multi-Family
636
Businesses
1,197
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Listed by: Linda Lanier • Realty One Group Results Greensboro
Mls Name: Triad MLS
Mls ID: #1202174