607 Smedes Pl #CRaleighNC27605
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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 607 Smedes Pl #C, Raleigh, NC, 27605 generates $1,979/mo in rent, after a $1,904/mo payment. Total monthly income is $1,979/mo. Return on cash invested sits at 16.26% in year one, and rental yield is 6.1% on a $389,000 entry. Equity gained on principal adds $2,510/yr, while 5% annual appreciation builds toward $107,474 over five years. Five-year ROI reaches 83.19% and total cumulative return in cash sums $107,274. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,979/mo property income rather than buyer’s personal income.
Condo
Built in 2021
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 27605, Raleigh, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,781 (100%) |
| Owner Occupied HU | 1,112 (29.4%) |
| Renter Occupied HU | 2,384 (63.1%) |
| Vacant Housing Units | 285 ( 7.5%) |
| Median Home Value | $698,153 |
| Average Home Value | $733,824 |
Housing Distribution
Address Breakdown
Residential
4,189
Single Family
1,739
Multi-Family
2,450
Businesses
704
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Listed by: Cindy Phifer • Allen Tate/Wake Forest
Mls Name: Doorify MLS
Mls ID: #10115629