702 Terrace LnConwayNC27820
Nearby investment properties with comparable rents
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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 Conway at 702 Terrace Ln, Conway, NC, 27820 priced at $289,000 converts $2,064/mo rent into $302/mo cash flow after a $1,415/mo obligation. Total monthly income equals $2,064/mo, and annual cash flow totals $3,626/yr on $95,804 invested. Return on cash invested prints 23.69% in year one, and rental yield reads 8.57% against a $289,000 entry. Equity gained on principal adds $1,865/yr, while 5% annual appreciation compiles into $79,845 by year five. Five-year ROI reaches 123.04% and total cumulative return in cash sums $117,878. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,064/mo property income covering a $1,415/mo payment, not borrower’s personal income.
Single Family
Built in 1977
1.02 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 27820, Conway, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,401 (100%) |
| Owner Occupied HU | 851 (60.7%) |
| Renter Occupied HU | 311 (22.2%) |
| Vacant Housing Units | 239 (17.1%) |
| Median Home Value | $189,038 |
| Average Home Value | $247,656 |
Housing Distribution
Address Breakdown
Residential
952
Single Family
952
Multi-Family
0
Businesses
50
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Listed by: Tina Williams • Howard Hanna Real Estate Svcs.
Mls Name: REIN Inc.
Mls ID: #10603392