505 S 15th StErwinNC28339
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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 Erwin at 505 S 15th St, Erwin, NC, 28339 uses $36,134 cash to close to unlock $2,078/yr annual cash flow and $173/mo monthly cash flow. Total monthly income runs $838/mo, and a $534/mo payment keeps the spread at $173/mo. Purchase price stands at $109,000, and rental yield measures 9.23% with $838/mo rent. Return on cash invested shows 25.66% in year one, and 5% annual appreciation builds toward $30,115 over five years. Five-year ROI reaches 133.7% and total cumulative return in cash records $48,310. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $838/mo property income covering a $534/mo payment rather than investor’s personal income.
Single Family
Built in 1925
8,276 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28339, Erwin, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,052 (100%) |
| Owner Occupied HU | 1,911 (62.6%) |
| Renter Occupied HU | 805 (26.4%) |
| Vacant Housing Units | 336 (11.0%) |
| Median Home Value | $187,990 |
| Average Home Value | $210,022 |
Housing Distribution
Address Breakdown
Residential
2,980
Single Family
2,980
Multi-Family
0
Businesses
269
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Listed by: Andrea Andrado Ochoa • Collective Realty LLC
Mls Name: Doorify MLS
Mls Provider:
Mls ID: #10103447
Disclaimer: The MLS listing information displayed is deemed reliable, but is not guaranteed accurate by the MLS. Copyright 2025 Doorify MLS of North Carolina. All rights reserved.