613 E 3rd AveRed SpringsNC28377
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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 Red Springs at 613 E 3rd Ave, Red Springs, NC, 28377 generates $1,417/mo in rent, after a $1,223/mo payment. Total monthly income is $1,417/mo. Return on cash invested sits at 18.38% in year one, and rental yield is 6.8% on a $249,900 entry. Equity gained on principal adds $1,613/yr, while 5% annual appreciation builds toward $69,043 over five years. Five-year ROI reaches 94.55% and total cumulative return in cash sums $78,326. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,417/mo property income rather than buyer’s personal income.
Single Family
Built in 1947
0.72 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28377, Red Springs, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,642 (100%) |
| Owner Occupied HU | 2,818 (60.7%) |
| Renter Occupied HU | 1,390 (29.9%) |
| Vacant Housing Units | 434 ( 9.3%) |
| Median Home Value | $115,417 |
| Average Home Value | $150,295 |
Housing Distribution
Address Breakdown
Residential
4,418
Single Family
4,312
Multi-Family
106
Businesses
280
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Listed by: MARY GRIFFIN • REALTY ONE GROUP LIBERTY
Mls Name: LPRMLS
Mls ID: #747681