532 W McLelland AveMooresvilleNC28115
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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 Mooresville at 532 W McLelland Ave, Mooresville, NC, 28115 priced at $299,000 converts $2,090/mo rent into $268/mo cash flow after a $1,463/mo obligation. Total monthly income equals $2,090/mo, and annual cash flow totals $3,218/yr on $99,119 invested. Return on cash invested prints 23.16% in year one, and rental yield reads 8.39% against a $299,000 entry. Equity gained on principal adds $1,929/yr, while 5% annual appreciation compiles into $82,608 by year five. Five-year ROI reaches 120.16% and total cumulative return in cash sums $119,098. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,090/mo property income covering a $1,463/mo payment, not borrower’s personal income.
Single Family
Built in 2025
0.18 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28115, Mooresville, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,468 (100%) |
| Owner Occupied HU | 13,451 (69.1%) |
| Renter Occupied HU | 4,839 (24.9%) |
| Vacant Housing Units | 1,178 ( 6.1%) |
| Median Home Value | $385,269 |
| Average Home Value | $431,366 |
Housing Distribution
Address Breakdown
Residential
18,482
Single Family
17,911
Multi-Family
571
Businesses
1,313
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Listed by: Stephanie Brown • Northway Realty LLC
Mls Name: Canopy MLS as distributed by MLS GRID
Mls ID: #4297319