723 Elk Spur StreetElkinNC28621
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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 Elkin at 723 Elk Spur Street, Elkin, NC, 28621 priced at $305,000 converts $1,776/mo rent into after a $1,493/mo obligation. Total monthly income equals $1,776/mo. Return on cash invested prints 18.92% in year one, and rental yield reads 6.99% against a $305,000 entry. Equity gained on principal adds $1,968/yr, while 5% annual appreciation compiles into $84,266 by year five. Five-year ROI reaches 97.41% and total cumulative return in cash sums $98,494. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,776/mo property income covering a $1,493/mo payment, not borrower’s personal income.
Single Family
Built in 1935
0.33 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28621, Elkin, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,020 (100%) |
| Owner Occupied HU | 3,106 (61.9%) |
| Renter Occupied HU | 1,269 (25.3%) |
| Vacant Housing Units | 645 (12.8%) |
| Median Home Value | $202,326 |
| Average Home Value | $255,608 |
Housing Distribution
Address Breakdown
Residential
4,538
Single Family
4,277
Multi-Family
261
Businesses
593
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Robert Poole • Keller Williams Elite
Mls Name: High Country AOR
Mls Provider:
Mls ID: #257375
Disclaimer: IDX information is provided exclusively for consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS.