497 Canvasback RdMooresvilleNC28117
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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 Mooresville at 497 Canvasback Rd, Mooresville, NC, 28117 priced at $749,500 converts $3,858/mo rent into after a $3,668/mo obligation. Total monthly income equals $3,858/mo. Return on cash invested prints 16.61% in year one, and rental yield reads 6.18% against a $749,500 entry. Equity gained on principal adds $4,836/yr, while 5% annual appreciation compiles into $207,073 by year five. Five-year ROI reaches 84.98% and total cumulative return in cash sums $209,549. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $3,858/mo property income covering a $3,668/mo payment, not borrower’s personal income.
Single Family
Built in 1987
0.55 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28117, Mooresville, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 24,357 (100%) |
| Owner Occupied HU | 14,100 (57.9%) |
| Renter Occupied HU | 7,756 (31.8%) |
| Vacant Housing Units | 2,501 (10.3%) |
| Median Home Value | $594,069 |
| Average Home Value | $756,439 |
Housing Distribution
Address Breakdown
Residential
22,737
Single Family
20,043
Multi-Family
2,694
Businesses
2,416
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Listed by: Cathy Lynch • #1 Properties of Lake Norman
Mls Name: Canopy MLS as distributed by MLS GRID
Mls ID: #4322713