505 Enka Lake RdCandlerNC28715
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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
Rental property for sale in Candler at 505 Enka Lake Rd, Candler, NC, 28715 generates $3,310/mo in rent and, after a $2,398/mo payment, leaves $324/mo in cash flow. Total monthly income is $3,310/mo, and annual cash flow is $3,889/yr on $162,402 invested. Return on cash invested sits at 22.3% in year one, and rental yield is 8.11% on a $489,900 entry. Equity gained on principal adds $3,161/yr, while 5% annual appreciation builds toward $135,350 over five years. Five-year ROI reaches 115.58% and total cumulative return in cash sums $187,709. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $3,310/mo property income rather than buyer’s personal income.
Single Family
Built in 1973
1.52 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28715, Candler, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,024 (100%) |
| Owner Occupied HU | 8,674 (66.6%) |
| Renter Occupied HU | 3,160 (24.3%) |
| Vacant Housing Units | 1,190 ( 9.1%) |
| Median Home Value | $395,567 |
| Average Home Value | $477,276 |
Housing Distribution
Address Breakdown
Residential
12,504
Single Family
12,494
Multi-Family
10
Businesses
514
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Listed by: Randall Blankenship • Corcoran HM Properties
Mls Name: Canopy MLS as distributed by MLS GRID
Mls Provider:
Mls ID: #4096454
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)