315 Arlington Ave UNIT 505CharlotteNC28203
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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 Charlotte at 315 Arlington Ave UNIT 505, Charlotte, NC, 28203 generates $2,206/mo in rent, after a $2,293/mo payment. Total monthly income is $2,206/mo. Return on cash invested sits at 10.95% in year one, and rental yield is 5.65% on a $468,500 entry. Equity gained on principal adds $3,023/yr, while 5% annual appreciation builds toward $129,438 over five years. Five-year ROI reaches 56.11% and total cumulative return in cash sums $87,138. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,206/mo property income rather than buyer’s personal income.
Condo
Built in 2003
N/A lot
$N/A/sqft
$510 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28203, Charlotte, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,849 (100%) |
| Owner Occupied HU | 3,366 (20.0%) |
| Renter Occupied HU | 10,649 (63.2%) |
| Vacant Housing Units | 2,834 (16.8%) |
| Median Home Value | $804,390 |
| Average Home Value | $879,402 |
Housing Distribution
Address Breakdown
Residential
11,563
Single Family
4,189
Multi-Family
7,374
Businesses
1,656
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Listed by: Jeff Lynch • RE/MAX EXECUTIVE
Mls Name: Canopy MLS as distributed by MLS GRID
Mls Provider:
Mls ID: #4196659
Disclaimer: Based on information submitted to the MLS GRID as of 2024-01-24 10:55:15 PST. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. [Click here for more information](/info/mls-disclaimers/#mls_87)