308 E Park AveAlbemarleNC28001
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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 Albemarle at 308 E Park Ave, Albemarle, NC, 28001 generates $1,721/mo in rent and, after a $879/mo payment, leaves $627/mo in cash flow. Total monthly income is $1,721/mo, and annual cash flow is $7,519/yr on $59,504 invested. Return on cash invested sits at 32.55% in year one, and rental yield is 11.51% on a $179,500 entry. Equity gained on principal adds $1,158/yr, while 5% annual appreciation builds toward $49,593 over five years. Five-year ROI reaches 170.52% and total cumulative return in cash sums $101,464. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,721/mo property income rather than buyer’s personal income.
Single Family
Built in 1941
0.21 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28001, Albemarle, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,711 (100%) |
| Owner Occupied HU | 8,131 (59.3%) |
| Renter Occupied HU | 4,293 (31.3%) |
| Vacant Housing Units | 1,287 ( 9.4%) |
| Median Home Value | $245,822 |
| Average Home Value | $280,577 |
Housing Distribution
Address Breakdown
Residential
12,225
Single Family
12,065
Multi-Family
160
Businesses
842
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Listed by: Jerry Burleson • Whitley Realty, Inc.
Mls Name: Canopy MLS as distributed by MLS GRID
Mls ID: #4320172