616 Northgate AveCharlotteNC28209
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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 Charlotte at 616 Northgate Ave, Charlotte, NC, 28209 generates $2,651/mo in rent, after a $3,010/mo payment. Total monthly income is $2,651/mo. Return on cash invested sits at 13.55% in year one, and rental yield is 5.17% on a $615,000 entry. Equity gained on principal adds $3,969/yr, while 5% annual appreciation builds toward $169,913 over five years. Five-year ROI reaches 68.6% and total cumulative return in cash sums $138,797. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,651/mo property income rather than buyer’s personal income.
Single Family
Built in 1953
0.29 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28209, Charlotte, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,582 (100%) |
| Owner Occupied HU | 6,194 (42.5%) |
| Renter Occupied HU | 6,995 (48.0%) |
| Vacant Housing Units | 1,393 ( 9.6%) |
| Median Home Value | $671,401 |
| Average Home Value | $794,219 |
Housing Distribution
Address Breakdown
Residential
13,910
Single Family
8,554
Multi-Family
5,356
Businesses
972
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Listed by: Lauren Lowery • COMPASS
Mls Name: Canopy MLS as distributed by MLS GRID
Mls ID: #4318627