407 Delaware AvenueElizabeth CityNC27909
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
Investment Highlights
Rental property for sale in Elizabeth City at 407 Delaware Avenue, Elizabeth City, NC, 27909 offers $997/mo rent that, after a $612/mo payment, leaves $235/mo cash flow. Total monthly income is $997/mo, and annual cash flow is $2,820/yr on $41,438 cash. Return on cash invested measures 26.71% in year one, and rental yield stands at 9.57% at a $125,000 entry. Equity gained on principal adds $807/yr while 5% annual appreciation compounds into $34,535 by year five. Five-year ROI records 139.19% and total cumulative return in cash reaches $57,677. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $997/mo property income versus a $612/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1978
8,712 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 27909, Elizabeth City, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,132 (100%) |
| Owner Occupied HU | 10,487 (57.8%) |
| Renter Occupied HU | 5,861 (32.3%) |
| Vacant Housing Units | 1,784 ( 9.8%) |
| Median Home Value | $256,977 |
| Average Home Value | $298,406 |
Housing Distribution
Address Breakdown
Residential
17,483
Single Family
17,279
Multi-Family
204
Businesses
1,292
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Curtis Godfrey • Iron Valley Real Estate Elizabeth City
Mls Name: Hive MLS
Mls ID: #100544901