404 E Mills AveMooresvilleNC28115
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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 Mooresville at 404 E Mills Ave, Mooresville, NC, 28115 with 5% annual appreciation on a $194,900 basis while $1,766/mo rent supports operations. Total monthly income totals $1,766/mo and a $954/mo payment preserves $578/mo for cash returns. Annual cash flow comes to $6,937/yr on $64,609 deployed, and return on cash invested reaches 30.65% in year one. Equity gained on principal adds $1,258/yr, and five-year appreciation sums $53,847 alongside rental yield of 10.87%. Five-year ROI measures 160.38% and total cumulative return in cash totals $103,623.
Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $1,766/mo property income versus a $954/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.
Single Family
Built in 1907
0.22 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28115, Mooresville, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,468 (100%) |
| Owner Occupied HU | 13,451 (69.1%) |
| Renter Occupied HU | 4,839 (24.9%) |
| Vacant Housing Units | 1,178 ( 6.1%) |
| Median Home Value | $385,269 |
| Average Home Value | $431,366 |
Housing Distribution
Address Breakdown
Residential
18,482
Single Family
17,911
Multi-Family
571
Businesses
1,313
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Listed by: Erika Bell • Bridge Homes
Mls Name: Canopy MLS as distributed by MLS GRID
Mls ID: #4320187