505 S 16th 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 16th St, Erwin, NC, 28339 listed at $136,000 pairs $1,345/mo rent with a $666/mo payment to leave $516/mo cash flow. Total monthly income runs $1,345/mo, and annual cash flow reaches $6,190/yr on $45,084 cash to close. Return on cash invested measures 33.64% in year one, and rental yield registers 11.87% at a $136,000 basis. Equity gained on principal adds $878/yr, and annual property appreciation at 5% supports $37,574 by year five. Five-year ROI tracks 176.34% and total cumulative return in cash totals $79,502. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,345/mo property income relative to a $666/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 1925
10,454 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: Stephanie Smith • Select Premium Properties Inc.
Mls Name: Doorify MLS
Mls ID: #10140867