501 Chestnut Grove RdStatesvilleNC28625
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayInvestors who prioritise long-run asset value over immediate income should consider 501 Chestnut Grove Rd, Statesville, NC, 28625 in Statesville. Rental yield 5.84%. At $425,000 with 5.84% gross yield, current distributions are modest, but the 5% appreciation rate projects $117,420 in new equity by year five, complemented by $3,914/yr in principal paydown. Ziffy Mortgage's DSCR loan (1.08) allows non-U.S. residents to acquire without W-2s or domestic credit. Total projected five-year cumulative return: $127,487.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 5.8% | 8.5% |
| Monthly Cash Flow | $(520) | $300 |
City averages based on Statesville market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,070 |
| Total Monthly Debt Service | $2,421 |
| DSCR Ratio | 0.85x |
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.
Manufactured
Built in 2009
1.92 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28625, Statesville, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,588 (100%) |
| Owner Occupied HU | 12,188 (69.3%) |
| Renter Occupied HU | 4,187 (23.8%) |
| Vacant Housing Units | 1,213 ( 6.9%) |
| Median Home Value | $314,741 |
| Average Home Value | $354,325 |
Housing Distribution
Address Breakdown
Residential
16,663
Single Family
15,291
Multi-Family
1,372
Businesses
907
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
Manufactured
Built in 2009
1.92 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28625, Statesville, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,588 (100%) |
| Owner Occupied HU | 12,188 (69.3%) |
| Renter Occupied HU | 4,187 (23.8%) |
| Vacant Housing Units | 1,213 ( 6.9%) |
| Median Home Value | $314,741 |
| Average Home Value | $354,325 |
Housing Distribution
Address Breakdown
Residential
16,663
Single Family
15,291
Multi-Family
1,372
Businesses
907
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Kevin Senter • Senter & Company LLC
Mls Name: Canopy MLS as distributed by MLS GRID
Mls ID: #4321036