623 S New Hope Rd APT 13GastoniaNC28054
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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 Gastonia at 623 S New Hope Rd APT 13, Gastonia, NC, 28054 uses $74,588 cash to close to unlock $5,736/yr annual cash flow and $478/mo monthly cash flow. Total monthly income runs $1,849/mo, and a $1,101/mo payment keeps the spread at $478/mo. Purchase price stands at $225,000, and rental yield measures 9.86% with $1,849/mo rent. Return on cash invested shows 27.6% in year one, and 5% annual appreciation builds toward $62,163 over five years. Five-year ROI reaches 143.96% and total cumulative return in cash records $107,373. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,849/mo property income covering a $1,101/mo payment rather than investor’s personal income.
Condo
Built in 1964
0.02 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28054, Gastonia, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,779 (100%) |
| Owner Occupied HU | 9,052 (48.2%) |
| Renter Occupied HU | 8,717 (46.4%) |
| Vacant Housing Units | 1,010 ( 5.4%) |
| Median Home Value | $270,652 |
| Average Home Value | $292,787 |
Housing Distribution
Address Breakdown
Residential
17,025
Single Family
14,663
Multi-Family
2,362
Businesses
1,476
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Listed by: Greg Holland • Moss Realty
Mls Name: Canopy MLS as distributed by MLS GRID
Mls ID: #4317091