504 Ridge StAlbemarleNC28001
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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 Albemarle at 504 Ridge St, Albemarle, NC, 28001 offers $2,123/mo rent that, after a $1,591/mo payment, leaves $142/mo cash flow. Total monthly income is $2,123/mo, and annual cash flow is $1,704/yr on $107,738 cash. Return on cash invested measures 21.49% in year one, and rental yield stands at 7.84% at a $325,000 entry. Equity gained on principal adds $2,097/yr while 5% annual appreciation compounds into $89,792 by year five. Five-year ROI records 111.18% and total cumulative return in cash reaches $119,785. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,123/mo property income versus a $1,591/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1966
0.34 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28001, Albemarle, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,711 (100%) |
| Owner Occupied HU | 8,131 (59.3%) |
| Renter Occupied HU | 4,293 (31.3%) |
| Vacant Housing Units | 1,287 ( 9.4%) |
| Median Home Value | $245,822 |
| Average Home Value | $280,577 |
Housing Distribution
Address Breakdown
Residential
12,225
Single Family
12,065
Multi-Family
160
Businesses
842
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Listed by: Cindy Laton • Century 21 Russ Hollins, Realtors
Mls Name: Canopy MLS as distributed by MLS GRID
Mls ID: #4297732