402 S Morro StFairmontNC28340
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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 Fairmont at 402 S Morro St, Fairmont, NC, 28340 offers a 7.3% rental yield on a $250,000 purchase with $1,520/mo rent. 85% in year one. Equity gained on principal adds $1,613/yr while 5% annual appreciation supports $69,070 over five years. Portfolio math shows five-year ROI at 102.38% and total cumulative return in cash at $84,850. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,520/mo property income against a $1,224/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1921
0.34 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28340, Fairmont, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,073 (100%) |
| Owner Occupied HU | 2,560 (62.9%) |
| Renter Occupied HU | 1,021 (25.1%) |
| Vacant Housing Units | 492 (12.1%) |
| Median Home Value | $97,103 |
| Average Home Value | $146,345 |
Housing Distribution
Address Breakdown
Residential
3,840
Single Family
3,769
Multi-Family
71
Businesses
261
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Listed by: ROSARIO SOTO • KELLER WILLIAMS REALTY (FAYETTEVILLE)
Mls Name: LPRMLS
Mls ID: #752022