406 Red Sky ParkwayElk ParkNC28622
INVESTMENT ANALYSIS
Investment Verdict
Appreciation Play406 Red Sky Parkway, Elk Park, NC, 28622 in Elk Park is priced for appreciation, not yield. Rental yield 1.11%. At $1,700,000 with a 1.11% gross yield, the monthly income is modest, but 5% annual price growth is projected to add $469,679 in value over five years, making equity the primary return driver. Ziffy Mortgage's DSCR mortgage (0.21) can still finance this property for non-U.S. residents; a 30–35% down payment typically produces the cleanest underwriting for appreciation-focused assets. Total projected cumulative return: $53,156.
| This Property | National Avg | |
|---|---|---|
| Gross Rental Yield | 1.1% | 6.2% |
| Monthly Cash Flow | $(9,209) | $180 |
National averages based on 2024–2025 U.S. residential rental market data. Content is user-generated and unverified.
DSCR Loan Qualification
| Monthly Rental Income | $1,572 |
| Total Monthly Debt Service | $10,105 |
| DSCR Ratio | 0.16x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 2024
2.14 Acres lot
$N/A/sqft
$5,050 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28622, Elk Park, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,449 (100%) |
| Owner Occupied HU | 819 (56.5%) |
| Renter Occupied HU | 254 (17.5%) |
| Vacant Housing Units | 376 (25.9%) |
| Median Home Value | $243,699 |
| Average Home Value | $309,939 |
Housing Distribution
Address Breakdown
Residential
1,016
Single Family
961
Multi-Family
55
Businesses
44
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Single Family
Built in 2024
2.14 Acres lot
$N/A/sqft
$5,050 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28622, Elk Park, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,449 (100%) |
| Owner Occupied HU | 819 (56.5%) |
| Renter Occupied HU | 254 (17.5%) |
| Vacant Housing Units | 376 (25.9%) |
| Median Home Value | $243,699 |
| Average Home Value | $309,939 |
Housing Distribution
Address Breakdown
Residential
1,016
Single Family
961
Multi-Family
55
Businesses
44
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Allison Schoen • Elevate Land & Realty Banner Elk
Mls Name: High Country AOR
Mls Provider:
Mls ID: #255307
Disclaimer: IDX information is provided exclusively for consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS.