359 Melton RdElkinNC28621
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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 Elkin at 359 Melton Rd, Elkin, NC, 28621 listed at $199,900 pairs $1,418/mo rent with a $978/mo payment to leave $200/mo cash flow. Total monthly income runs $1,418/mo, and annual cash flow reaches $2,401/yr on $66,267 cash to close. Return on cash invested measures 23.53% in year one, and rental yield registers 8.51% at a $199,900 basis. Equity gained on principal adds $1,290/yr, and annual property appreciation at 5% supports $55,229 by year five. Five-year ROI tracks 122.22% and total cumulative return in cash totals $80,989. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,418/mo property income relative to a $978/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Manufactured
Built in 2017
1.38 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28621, Elkin, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,020 (100%) |
| Owner Occupied HU | 3,106 (61.9%) |
| Renter Occupied HU | 1,269 (25.3%) |
| Vacant Housing Units | 645 (12.8%) |
| Median Home Value | $202,326 |
| Average Home Value | $255,608 |
Housing Distribution
Address Breakdown
Residential
4,538
Single Family
4,277
Multi-Family
261
Businesses
593
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Nearby investment properties with comparable prices
Listed by: Jill Galliher • Keller Williams Realty
Mls Name: Triad MLS
Mls Provider:
Mls ID: #1153849
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