305 Locust AveLocustNC28097
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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 Locust at 305 Locust Ave, Locust, NC, 28097 priced at $298,500 converts $2,405/mo rent into $586/mo cash flow after a $1,461/mo obligation. Total monthly income equals $2,405/mo, and annual cash flow totals $7,030/yr on $98,953 invested. Return on cash invested prints 27.01% in year one, and rental yield reads 9.67% against a $298,500 entry. Equity gained on principal adds $1,926/yr, while 5% annual appreciation compiles into $82,470 by year five. Five-year ROI reaches 140.8% and total cumulative return in cash sums $139,329. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,405/mo property income covering a $1,461/mo payment, not borrower’s personal income.
Single Family
Built in 1977
0.37 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28097, Locust, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,049 (100%) |
| Owner Occupied HU | 2,333 (76.5%) |
| Renter Occupied HU | 566 (18.6%) |
| Vacant Housing Units | 150 ( 4.9%) |
| Median Home Value | $315,438 |
| Average Home Value | $340,889 |
Housing Distribution
Address Breakdown
Residential
3,343
Single Family
3,343
Multi-Family
0
Businesses
323
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Listed by: Michelle Meachum • Lantern Realty & Development, LLC
Mls Name: Canopy MLS as distributed by MLS GRID
Mls ID: #4288365