316 Richmond AveBurlingtonNC27217
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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 Burlington at 316 Richmond Ave, Burlington, NC, 27217 uses $78,566 cash to close to unlock $1,447/yr annual cash flow and $121/mo monthly cash flow. Total monthly income runs $1,565/mo, and a $1,160/mo payment keeps the spread at $121/mo. Purchase price stands at $237,000, and rental yield measures 7.92% with $1,565/mo rent. Return on cash invested shows 21.75% in year one, and 5% annual appreciation builds toward $65,479 over five years. Five-year ROI reaches 112.61% and total cumulative return in cash records $88,472. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,565/mo property income covering a $1,160/mo payment rather than investor’s personal income.
Single Family
Built in 1953
8,712 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 27217, Burlington, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,370 (100%) |
| Owner Occupied HU | 10,279 (59.2%) |
| Renter Occupied HU | 5,636 (32.4%) |
| Vacant Housing Units | 1,455 ( 8.4%) |
| Median Home Value | $211,939 |
| Average Home Value | $251,983 |
Housing Distribution
Address Breakdown
Residential
16,510
Single Family
16,319
Multi-Family
191
Businesses
773
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Listed by: Jessica Marquina • Keller Williams Central
Mls Name: Doorify MLS
Mls ID: #10115072