502 E 1st St #1 & 2CherryvilleNC28021
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
Investment property for sale in Cherryville at 502 E 1st St #1 & 2, Cherryville, NC, 28021 offers a 8.1% rental yield on a $249,900 purchase with $1,687/mo rent. Total monthly income registers $1,687/mo, and a $1,223/mo payment leaves $164/mo available for distribution. Annual cash flow reaches $1,969/yr on $82,842 to close, and return on cash invested stands at 22.29% in year one. Equity gained on principal adds $1,613/yr while 5% annual appreciation supports $69,043 over five years. Portfolio math shows five-year ROI at 115.51% and total cumulative return in cash at $95,690. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,687/mo property income against a $1,223/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Multi Family
Built in 1956
0.21 Acres lot
$N/A/sqft
No HOA
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Nancy Barnes • Vickie Spurling Realty Inc
Mls Name: Canopy MLS as distributed by MLS GRID
Mls Provider:
Mls ID: #4196315
Disclaimer: Based on information submitted to the MLS GRID as of 2024-01-24 10:55:15 PST. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. [Click here for more information](/info/mls-disclaimers/#mls_87)