505 E 6th St Unit 814CharlotteNC28202
INVESTMENT ANALYSIS
Investment Verdict
Solid Income505 E 6th St Unit 814, Charlotte, NC, 28202 in Charlotte is a solid income-producing rental, 8.81% gross yield, $1,760/mo rent, $298/mo net cash flow on a $239,900 buy. DSCR 1.63 qualifies the property for Ziffy Mortgage's financing without personal income documentation. Five-year appreciation of $66,280 and $2,210/yr in principal reduction project a total cumulative return of $110,073.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.8% | 5.5% |
| Monthly Cash Flow | $298 | $420 |
City averages based on Charlotte market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,760 |
| Total Monthly Debt Service | $1,367 |
| DSCR Ratio | 1.29x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, 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.
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
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
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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Jordan Caldwell • Costello Real Estate and Investments LLC
Mls Name: Canopy MLS as distributed by MLS GRID
Mls ID: #4342509