506 7th St SWHickoryNC28602
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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
Rental property for sale in Hickory at 506 7th St SW, Hickory, NC, 28602 offers $2,203/mo rent that, after a $1,229/mo payment, leaves $673/mo cash flow. Total monthly income is $2,203/mo, and annual cash flow is $8,074/yr on $83,207 cash. Return on cash invested measures 29.61% in year one, and rental yield stands at 10.53% at a $251,000 entry. Equity gained on principal adds $1,620/yr while 5% annual appreciation compounds into $69,347 by year five. Five-year ROI records 154.76% and total cumulative return in cash reaches $128,772. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,203/mo property income versus a $1,229/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1953
0.28 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28602, Hickory, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,156 (100%) |
| Owner Occupied HU | 8,012 (60.9%) |
| Renter Occupied HU | 3,979 (30.2%) |
| Vacant Housing Units | 1,165 ( 8.9%) |
| Median Home Value | $226,054 |
| Average Home Value | $256,746 |
Housing Distribution
Address Breakdown
Residential
12,634
Single Family
11,779
Multi-Family
855
Businesses
1,733
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Listed by: Devan Kendrick • Realty ONE Group Select
Mls Name: Canopy MLS as distributed by MLS GRID
Mls Provider:
Mls ID: #4255444
Disclaimer: Based on information submitted to the MLS GRID as of 2025-10-30 22:33:01 PDT. 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](/mls-disclaimers/#87)