7138 Somerset Springs DrCharlotteNC28262
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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 Charlotte at 7138 Somerset Springs Dr, Charlotte, NC, 28262 earns $306/mo cash flow from $1,524/mo rent with a $978/mo payment. Total monthly income totals $1,524/mo, and annual cash flow totals $3,673/yr on $66,267 capital. ROI tracks 25.45% on current figures, and rental yield reads 9.15% at a $199,900 purchase. Equity gained on principal adds $1,290/yr, and 5% annual appreciation supports $55,229 over five years. Five-year ROI reaches 132.52% and total cumulative return in cash sums $87,817. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $1,524/mo property income instead of your personal income.
Condo
Built in 2008
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28262, Charlotte, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 27,572 (100%) |
| Owner Occupied HU | 6,674 (24.2%) |
| Renter Occupied HU | 17,684 (64.1%) |
| Vacant Housing Units | 3,214 (11.7%) |
| Median Home Value | $354,495 |
| Average Home Value | $431,493 |
Housing Distribution
Address Breakdown
Residential
24,274
Single Family
15,024
Multi-Family
9,250
Businesses
1,546
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Listed by: Nadine Morgan • Howard Hanna Allen Tate Center City
Mls Name: Canopy MLS as distributed by MLS GRID
Mls ID: #4267659