309 Lutz AveMooresvilleNC28115
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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 Mooresville at 309 Lutz Ave, Mooresville, NC, 28115 generates $1,347/mo in rent and, after a $832/mo payment, leaves $311/mo in cash flow. Total monthly income is $1,347/mo, and annual cash flow is $3,732/yr on $56,355 invested. Return on cash invested sits at 26.53% in year one, and rental yield is 9.51% on a $170,000 entry. Equity gained on principal adds $1,097/yr, while 5% annual appreciation builds toward $46,968 over five years. Five-year ROI reaches 138.21% and total cumulative return in cash sums $77,889. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,347/mo property income rather than buyer’s personal income.
Single Family
Built in 1931
1,200 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28115, Mooresville, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,468 (100%) |
| Owner Occupied HU | 13,451 (69.1%) |
| Renter Occupied HU | 4,839 (24.9%) |
| Vacant Housing Units | 1,178 ( 6.1%) |
| Median Home Value | $385,269 |
| Average Home Value | $431,366 |
Housing Distribution
Address Breakdown
Residential
18,482
Single Family
17,911
Multi-Family
571
Businesses
1,313
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