511 S Carolina AveSpencerNC28159
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
Investment Highlights
Rental property for sale in Spencer at 511 S Carolina Ave, Spencer, NC, 28159 offers $2,095/mo rent that, after a $1,419/mo payment, leaves $328/mo cash flow. Total monthly income is $2,095/mo, and annual cash flow is $3,936/yr on $96,135 cash. Return on cash invested measures 24% in year one, and rental yield stands at 8.67% at a $289,999 entry. Equity gained on principal adds $1,871/yr while 5% annual appreciation compounds into $80,121 by year five. Five-year ROI records 124.65% and total cumulative return in cash reaches $119,836. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,095/mo property income versus a $1,419/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 2021
0.17 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28159, Spencer, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,419 (100%) |
| Owner Occupied HU | 742 (52.3%) |
| Renter Occupied HU | 502 (35.4%) |
| Vacant Housing Units | 175 (12.3%) |
| Median Home Value | $187,342 |
| Average Home Value | $265,425 |
Housing Distribution
Address Breakdown
Residential
1,297
Single Family
1,289
Multi-Family
8
Businesses
128
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Nearby investment properties with comparable prices
Listed by: Richie Egnor • Keller Williams Premier
Mls Name: Canopy MLS as distributed by MLS GRID
Mls ID: #4304467