704 E 3rd St #3SpencerNC28159
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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 Spencer at 704 E 3rd St #3, Spencer, NC, 28159 generates $1,500/mo in rent, after a $1,224/mo payment. Total monthly income is $1,500/mo. Return on cash invested sits at 19.56% in year one, and rental yield is 7.2% on a $250,000 entry. Equity gained on principal adds $1,613/yr, while 5% annual appreciation builds toward $69,070 over five years. Five-year ROI reaches 100.83% and total cumulative return in cash sums $83,566. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,500/mo property income rather than buyer’s personal income.
Multi Family
Built in 1950
0.23 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28159, Spencer, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,419 (100%) |
| Owner Occupied HU | 742 (52.3%) |
| Renter Occupied HU | 502 (35.4%) |
| Vacant Housing Units | 175 (12.3%) |
| Median Home Value | $187,342 |
| Average Home Value | $265,425 |
Housing Distribution
Address Breakdown
Residential
1,297
Single Family
1,289
Multi-Family
8
Businesses
128
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Listed by: Renada Gullatte • Young & Company Real Estate
Mls Name: Canopy MLS as distributed by MLS GRID
Mls ID: #4316805