505 E 6th St UNIT 1006CharlotteNC28202
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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
Investment property for sale in Charlotte at 505 E 6th St UNIT 1006, Charlotte, NC, 28202 listed at $365,000 pairs $2,662/mo rent with a $1,786/mo payment to leave $438/mo cash flow. Total monthly income runs $2,662/mo, and annual cash flow reaches $5,256/yr on $120,998 cash to close. Return on cash invested measures 24.25% in year one, and rental yield registers 8.75% at a $365,000 basis. Equity gained on principal adds $2,355/yr, and annual property appreciation at 5% supports $100,843 by year five. Five-year ROI tracks 126% and total cumulative return in cash totals $152,455. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $2,662/mo property income relative to a $1,786/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Condo
Built in 2006
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28202, Charlotte, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,577 (100%) |
| Owner Occupied HU | 2,361 (17.4%) |
| Renter Occupied HU | 9,420 (69.4%) |
| Vacant Housing Units | 1,796 (13.2%) |
| Median Home Value | $536,677 |
| Average Home Value | $631,626 |
Housing Distribution
Address Breakdown
Residential
12,764
Single Family
3,910
Multi-Family
8,854
Businesses
1,224
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Listed by: Bennie Gray • EXP Realty LLC Ballantyne
Mls Name: Canopy MLS as distributed by MLS GRID
Mls ID: #4288803