605 W Lenoir Ave #605KinstonNC28501
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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
Investment property for sale in Kinston at 605 W Lenoir Ave #605, Kinston, NC, 28501 uses $59,670 cash to close to unlock $2,676/yr annual cash flow and $223/mo monthly cash flow. Total monthly income runs $1,320/mo, and a $881/mo payment keeps the spread at $223/mo. Purchase price stands at $180,000, and rental yield measures 8.8% with $1,320/mo rent. Return on cash invested shows 24.39% in year one, and 5% annual appreciation builds toward $49,731 over five years. Five-year ROI reaches 126.77% and total cumulative return in cash records $75,641. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,320/mo property income covering a $881/mo payment rather than investor’s personal income.
Single Family
Built in 1930
4,791 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28501, Kinston, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,622 (100%) |
| Owner Occupied HU | 3,710 (38.6%) |
| Renter Occupied HU | 4,100 (42.6%) |
| Vacant Housing Units | 1,812 (18.8%) |
| Median Home Value | $96,667 |
| Average Home Value | $139,687 |
Housing Distribution
Address Breakdown
Residential
8,586
Single Family
8,006
Multi-Family
580
Businesses
763
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Listed by: Ruhamah Baker • KW Wilson
Mls Name: Doorify MLS
Mls ID: #10138421