408 W Virginia AveBessemer CityNC28016
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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 Bessemer City at 408 W Virginia Ave, Bessemer City, NC, 28016 priced at $220,000 converts $1,516/mo rent into $175/mo cash flow after a $1,077/mo obligation. Total monthly income equals $1,516/mo, and annual cash flow totals $2,100/yr on $72,930 invested. Return on cash invested prints 22.79% in year one, and rental yield reads 8.27% against a $220,000 entry. Equity gained on principal adds $1,420/yr, while 5% annual appreciation compiles into $60,782 by year five. Five-year ROI reaches 118.16% and total cumulative return in cash sums $86,171. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,516/mo property income covering a $1,077/mo payment, not borrower’s personal income.
Single Family
Built in 1912
0.36 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28016, Bessemer City, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,159 (100%) |
| Owner Occupied HU | 3,831 (62.2%) |
| Renter Occupied HU | 1,793 (29.1%) |
| Vacant Housing Units | 535 ( 8.7%) |
| Median Home Value | $248,734 |
| Average Home Value | $320,265 |
Housing Distribution
Address Breakdown
Residential
5,725
Single Family
5,675
Multi-Family
50
Businesses
306
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Listed by: Tammy Cherry • Premier South
Mls Name: Canopy MLS as distributed by MLS GRID
Mls ID: #4296821