515 Hoke StRaleighNC27601
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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 Raleigh at 515 Hoke St, Raleigh, NC, 27601 priced at $425,000 converts $2,549/mo rent into after a $2,080/mo obligation. Total monthly income equals $2,549/mo. Return on cash invested prints 19.56% in year one, and rental yield reads 7.2% against a $425,000 entry. Equity gained on principal adds $2,742/yr, while 5% annual appreciation compiles into $117,420 by year five. Five-year ROI reaches 100.83% and total cumulative return in cash sums $142,061. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,549/mo property income covering a $2,080/mo payment, not borrower’s personal income.
Multi Family
Built in 1983
6,969 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 27601, Raleigh, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,880 (100%) |
| Owner Occupied HU | 1,451 (24.7%) |
| Renter Occupied HU | 3,732 (63.5%) |
| Vacant Housing Units | 697 (11.9%) |
| Median Home Value | $624,684 |
| Average Home Value | $657,493 |
Housing Distribution
Address Breakdown
Residential
5,214
Single Family
3,004
Multi-Family
2,210
Businesses
1,057
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Listed by: Elisabeth Kane • Allen Tate/ Lake Royale
Mls Name: Doorify MLS
Mls ID: #10115335