317 W Morgan St APT 302RaleighNC27601
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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
Total monthly income runs $1,780/mo, and a $1,676/mo payment. Purchase price stands at $342,500, and rental yield measures 6.24% with $1,780/mo rent. Return on cash invested shows 16.66% in year one, and 5% annual appreciation builds toward $94,626 over five years. Five-year ROI reaches 85.31% and total cumulative return in cash records $96,863. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,780/mo property income covering a $1,676/mo payment rather than investor’s personal income.
Condo
Built in 2005
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 27601, Raleigh, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,880 (100%) |
| Owner Occupied HU | 1,451 (24.7%) |
| Renter Occupied HU | 3,732 (63.5%) |
| Vacant Housing Units | 697 (11.9%) |
| Median Home Value | $624,684 |
| Average Home Value | $657,493 |
Housing Distribution
Address Breakdown
Residential
5,214
Single Family
3,004
Multi-Family
2,210
Businesses
1,057
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Listed by: Connie Floyd • Choice Residential Real Estate
Mls Name: Doorify MLS
Mls ID: #10111900