600 Foster StKannapolisNC28083
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 Kannapolis at 600 Foster St, Kannapolis, NC, 28083 priced at $235,000 converts $1,681/mo rent into $249/mo cash flow after a $1,150/mo obligation. Total monthly income equals $1,681/mo, and annual cash flow totals $2,988/yr on $77,903 invested. Return on cash invested prints 23.74% in year one, and rental yield reads 8.58% against a $235,000 entry. Equity gained on principal adds $1,516/yr, while 5% annual appreciation compiles into $64,926 by year five. Five-year ROI reaches 123.28% and total cumulative return in cash sums $96,040. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,681/mo property income covering a $1,150/mo payment, not borrower’s personal income.
Single Family
Built in 1950
0.24 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28083, Kannapolis, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,772 (100%) |
| Owner Occupied HU | 6,682 (56.8%) |
| Renter Occupied HU | 4,231 (35.9%) |
| Vacant Housing Units | 859 ( 7.3%) |
| Median Home Value | $238,551 |
| Average Home Value | $299,940 |
Housing Distribution
Address Breakdown
Residential
11,166
Single Family
10,997
Multi-Family
169
Businesses
756
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Listed by: Matt Stone • Stone Realty Group
Mls Name: Canopy MLS as distributed by MLS GRID
Mls ID: #4332170