318 E David Parnell StParktonNC28371
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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 Parkton at 318 E David Parnell St, Parkton, NC, 28371 uses $84,533 cash to close to unlock $6,636/yr annual cash flow and $553/mo monthly cash flow. Total monthly income runs $2,107/mo, and a $1,248/mo payment keeps the spread at $553/mo. Purchase price stands at $255,000, and rental yield measures 9.92% with $2,107/mo rent. Return on cash invested shows 27.76% in year one, and 5% annual appreciation builds toward $70,452 over five years. Five-year ROI reaches 144.81% and total cumulative return in cash records $122,408. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,107/mo property income covering a $1,248/mo payment rather than investor’s personal income.
Single Family
Built in 2023
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28371, Parkton, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,814 (100%) |
| Owner Occupied HU | 1,822 (64.7%) |
| Renter Occupied HU | 740 (26.3%) |
| Vacant Housing Units | 252 ( 9.0%) |
| Median Home Value | $153,144 |
| Average Home Value | $179,734 |
Housing Distribution
Address Breakdown
Residential
2,919
Single Family
2,823
Multi-Family
96
Businesses
69
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Listed by: PAMELA WIGGS • BROWN PROPERTY GROUP
Mls Name: LPRMLS
Mls ID: #751736