40 Olde Covington WayArdenNC28704
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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 Arden at 40 Olde Covington Way, Arden, NC, 28704 priced at $449,900 converts $2,221/mo rent into after a $2,202/mo obligation. Total monthly income equals $2,221/mo. Return on cash invested prints 13.95% in year one, and rental yield reads 5.92% against a $449,900 entry. Equity gained on principal adds $2,903/yr, while 5% annual appreciation compiles into $124,299 by year five. Five-year ROI reaches 71.42% and total cumulative return in cash sums $106,510. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,221/mo property income covering a $2,202/mo payment, not borrower’s personal income.
Townhouse
Built in 2002
10,018 sqft lot
$N/A/sqft
$220 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28704, Arden, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,283 (100%) |
| Owner Occupied HU | 6,564 (49.4%) |
| Renter Occupied HU | 5,409 (40.7%) |
| Vacant Housing Units | 1,310 ( 9.9%) |
| Median Home Value | $460,403 |
| Average Home Value | $610,342 |
Housing Distribution
Address Breakdown
Residential
12,048
Single Family
9,990
Multi-Family
2,058
Businesses
976
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