506 Queens Gate DrKannapolisNC28083
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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 Kannapolis at 506 Queens Gate Dr, Kannapolis, NC, 28083 listed at $306,000 pairs $2,064/mo rent with a $1,498/mo payment to leave $199/mo cash flow. Total monthly income runs $2,064/mo, and annual cash flow reaches $2,386/yr on $101,439 cash to close. Return on cash invested measures 22.26% in year one, and rental yield registers 8.09% at a $306,000 basis. Equity gained on principal adds $1,975/yr, and annual property appreciation at 5% supports $84,542 by year five. Five-year ROI tracks 115.32% and total cumulative return in cash totals $116,976. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $2,064/mo property income relative to a $1,498/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 1985
0.36 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28083, Kannapolis, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,772 (100%) |
| Owner Occupied HU | 6,682 (56.8%) |
| Renter Occupied HU | 4,231 (35.9%) |
| Vacant Housing Units | 859 ( 7.3%) |
| Median Home Value | $238,551 |
| Average Home Value | $299,940 |
Housing Distribution
Address Breakdown
Residential
11,166
Single Family
10,997
Multi-Family
169
Businesses
756
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Listed by: Amy Horne • Opendoor Brokerage LLC
Mls Name: Canopy MLS as distributed by MLS GRID
Mls ID: #4327329