311 Penny Lane UNIT 2CBanner ElkNC28604
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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 Banner Elk at 311 Penny Lane UNIT 2C, Banner Elk, NC, 28604 earns from $2,717/mo rent with a $3,666/mo payment. Total monthly income totals $2,717/mo. ROI tracks 11.06% on current figures, and rental yield reads 4.35% at a $749,000 purchase. Equity gained on principal adds $4,833/yr, and 5% annual appreciation supports $206,935 over five years. Five-year ROI reaches 55.25% and total cumulative return in cash sums $136,156. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $2,717/mo property income instead of your personal income.
Condo
Built in 2008
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28604, Banner Elk, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,910 (100%) |
| Owner Occupied HU | 2,452 (24.7%) |
| Renter Occupied HU | 743 ( 7.5%) |
| Vacant Housing Units | 6,715 (67.8%) |
| Median Home Value | $382,801 |
| Average Home Value | $471,902 |
Housing Distribution
Address Breakdown
Residential
6,320
Single Family
5,791
Multi-Family
529
Businesses
455
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Listed by: Linda Cramblit • Blue Ridge Realty & Inv. - Banner Elk
Mls Name: High Country AOR
Mls ID: #257923