634 Chipley Ave APT 1CharlotteNC28205
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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 634 Chipley Ave APT 1, Charlotte, NC, 28205 generates $1,542/mo in rent and, after a $918/mo payment, leaves $399/mo in cash flow. Total monthly income is $1,542/mo, and annual cash flow is $4,788/yr on $62,156 invested. Return on cash invested sits at 27.61% in year one, and rental yield is 9.87% on a $187,500 entry. Equity gained on principal adds $1,210/yr, while 5% annual appreciation builds toward $51,803 over five years. Five-year ROI reaches 144.02% and total cumulative return in cash sums $89,515. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,542/mo property income rather than buyer’s personal income.
Condo
Built in 1970
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28205, Charlotte, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 25,956 (100%) |
| Owner Occupied HU | 9,880 (38.1%) |
| Renter Occupied HU | 14,310 (55.1%) |
| Vacant Housing Units | 1,766 ( 6.8%) |
| Median Home Value | $504,731 |
| Average Home Value | $571,606 |
Housing Distribution
Address Breakdown
Residential
25,561
Single Family
20,489
Multi-Family
5,072
Businesses
1,729
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Listed by: Kaitlin MacBain • Mackey Realty LLC
Mls Name: Canopy MLS as distributed by MLS GRID
Mls ID: #4328049