638 E Main StSpindaleNC28160
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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 Spindale at 638 E Main St, Spindale, NC, 28160 generates $1,296/mo in rent and, after a $778/mo payment, leaves $327/mo in cash flow. Total monthly income is $1,296/mo, and annual cash flow is $3,926/yr on $52,709 invested. Return on cash invested sits at 27.36% in year one, and rental yield is 9.78% on a $159,000 entry. Equity gained on principal adds $1,026/yr, while 5% annual appreciation builds toward $43,929 over five years. Five-year ROI reaches 142.72% and total cumulative return in cash sums $75,228. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,296/mo property income rather than buyer’s personal income.
Single Family
Built in 1945
0.32 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28160, Spindale, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,722 (100%) |
| Owner Occupied HU | 937 (54.4%) |
| Renter Occupied HU | 588 (34.1%) |
| Vacant Housing Units | 197 (11.4%) |
| Median Home Value | $151,008 |
| Average Home Value | $165,173 |
Housing Distribution
Address Breakdown
Residential
1,719
Single Family
1,696
Multi-Family
23
Businesses
263
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Listed by: Joel Smith • EXP Realty LLC
Mls Name: Canopy MLS as distributed by MLS GRID
Mls ID: #4321544