519 Ridgeway Pl SWLenoirNC28645
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
Investment property for sale in Lenoir at 519 Ridgeway Pl SW, Lenoir, NC, 28645 uses $52,709 cash to close to unlock $410/yr annual cash flow and $34/mo monthly cash flow. Total monthly income runs $1,003/mo, and a $778/mo payment keeps the spread at $34/mo. Purchase price stands at $159,000, and rental yield measures 7.57% with $1,003/mo rent. Return on cash invested shows 20.69% in year one, and 5% annual appreciation builds toward $43,929 over five years. Five-year ROI reaches 106.96% and total cumulative return in cash records $56,376. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,003/mo property income covering a $778/mo payment rather than investor’s personal income.
Manufactured
Built in 1994
0.21 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28645, Lenoir, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 21,745 (100%) |
| Owner Occupied HU | 13,505 (62.1%) |
| Renter Occupied HU | 5,791 (26.6%) |
| Vacant Housing Units | 2,449 (11.3%) |
| Median Home Value | $210,906 |
| Average Home Value | $239,578 |
Housing Distribution
Address Breakdown
Residential
20,028
Single Family
19,699
Multi-Family
329
Businesses
1,303
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Lacey Reeves • Mountainside Realty, LLC
Mls Name: Canopy MLS as distributed by MLS GRID
Mls Provider:
Mls ID: #4225199
Disclaimer: Based on information submitted to the MLS GRID as of 2025-02-21 10:04:12 PST. 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](/info/mls-disclaimers/#mls_87)