509 Massachusetts AvenueElizabeth CityNC27909
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowFew Elizabeth City rentals match the income profile of 509 Massachusetts Avenue, Elizabeth City, NC, 27909. Listed at $235,000, gross rent is $2,322/mo and net cash flow is $890/mo, a 11.86% yield well above national averages. DSCR 2.20 means Ziffy Mortgage can approve your loan on the property's income alone, bypassing personal income verification. The 5% annual appreciation trend adds $64,926 by year five with $2,164/yr in annual principal reduction, projecting $146,240 in total cumulative return.
| This Property | National Avg | |
|---|---|---|
| Gross Rental Yield | 11.9% | 6.2% |
| Monthly Cash Flow | $890 | $180 |
National averages based on 2024–2025 U.S. residential rental market data. Content is user-generated and unverified.
DSCR Loan Qualification
| Monthly Rental Income | $2,322 |
| Total Monthly Debt Service | $1,339 |
| DSCR Ratio | 1.73x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 2007
5,227 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 27909, Elizabeth City, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,132 (100%) |
| Owner Occupied HU | 10,487 (57.8%) |
| Renter Occupied HU | 5,861 (32.3%) |
| Vacant Housing Units | 1,784 ( 9.8%) |
| Median Home Value | $256,977 |
| Average Home Value | $298,406 |
Housing Distribution
Address Breakdown
Residential
17,483
Single Family
17,279
Multi-Family
204
Businesses
1,292
Nearby investment properties with comparable rents
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
Single Family
Built in 2007
5,227 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 27909, Elizabeth City, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,132 (100%) |
| Owner Occupied HU | 10,487 (57.8%) |
| Renter Occupied HU | 5,861 (32.3%) |
| Vacant Housing Units | 1,784 ( 9.8%) |
| Median Home Value | $256,977 |
| Average Home Value | $298,406 |
Housing Distribution
Address Breakdown
Residential
17,483
Single Family
17,279
Multi-Family
204
Businesses
1,292
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Malaney Sawyer • Kingdom Real Estate Services Inc.
Mls Name: Hive MLS
Mls ID: #100532058