817 Mitchell Ave APT 3CSalisburyNC28144
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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 Salisbury at 817 Mitchell Ave APT 3C, Salisbury, NC, 28144 priced at $169,900 converts $1,600/mo rent into $400/mo cash flow after a $832/mo obligation. Total monthly income equals $1,600/mo, and annual cash flow totals $4,800/yr on $56,322 invested. Return on cash invested prints 28.43% in year one, and rental yield reads 11.3% against a $169,900 entry. Equity gained on principal adds $1,096/yr, while 5% annual appreciation compiles into $46,940 by year five. Five-year ROI reaches 149.68% and total cumulative return in cash sums $84,302. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,600/mo property income covering a $832/mo payment, not borrower’s personal income.
Townhouse
Built in 1983
N/A lot
$N/A/sqft
$150 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28144, Salisbury, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,134 (100%) |
| Owner Occupied HU | 6,065 (50.0%) |
| Renter Occupied HU | 4,831 (39.8%) |
| Vacant Housing Units | 1,238 (10.2%) |
| Median Home Value | $267,215 |
| Average Home Value | $297,064 |
Housing Distribution
Address Breakdown
Residential
11,029
Single Family
10,382
Multi-Family
647
Businesses
1,108
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Listed by: Tricia Strickland • Lantern Realty & Development, LLC
Mls Name: Canopy MLS as distributed by MLS GRID
Mls Provider:
Mls ID: #4185294
Disclaimer: Based on information submitted to the MLS GRID as of 2024-01-24 10:55:15 PST. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. [Click here for more information](/info/mls-disclaimers/#mls_87)