308 Lewis StRed SpringsNC28377
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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 Red Springs at 308 Lewis St, Red Springs, NC, 28377 offers a 4.64% rental yield on a $299,999 purchase with $1,159/mo rent. 84% in year one. Equity gained on principal adds $1,936/yr while 5% annual appreciation supports $82,884 over five years. Portfolio math shows five-year ROI at 59.43% and total cumulative return in cash at $59,100. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,159/mo property income against a $1,468/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1984
2 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28377, Red Springs, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,642 (100%) |
| Owner Occupied HU | 2,818 (60.7%) |
| Renter Occupied HU | 1,390 (29.9%) |
| Vacant Housing Units | 434 ( 9.3%) |
| Median Home Value | $115,417 |
| Average Home Value | $150,295 |
Housing Distribution
Address Breakdown
Residential
4,418
Single Family
4,312
Multi-Family
106
Businesses
280
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Listed by: CHRISTOPHER LOCKLEAR • LIBERTY REALTY GROUP
Mls Name: LPRMLS
Mls ID: #755195