823 Spice Creek RoadBanner ElkNC28604
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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 Banner Elk at 823 Spice Creek Road, Banner Elk, NC, 28604 priced at $115,000 pairs $1,736/mo rent with $1,035/mo cash flow after a $563/mo payment. Total monthly income equals $1,736/mo, and annual cash flow comes to $12,420/yr on $38,123 invested. Return on cash invested is 52.49% in year one, and rental yield stands at 18.11% on a $115,000 basis. Equity gained on principal adds $742/yr, and 5% annual appreciation accumulates to $31,772 by year five. Five-year ROI measures 277.44% and total cumulative return in cash reaches $105,765. For financing, Ziffy Mortgage’s DSCR program evaluates $1,736/mo property income against a $563/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 1986
7.28 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28604, Banner Elk, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,910 (100%) |
| Owner Occupied HU | 2,452 (24.7%) |
| Renter Occupied HU | 743 ( 7.5%) |
| Vacant Housing Units | 6,715 (67.8%) |
| Median Home Value | $382,801 |
| Average Home Value | $471,902 |
Housing Distribution
Address Breakdown
Residential
6,320
Single Family
5,791
Multi-Family
529
Businesses
455
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
No similar price properties found nearby.
Listed by: Lindsey Lacey • Preferred Mountain Real Estate
Mls Name: High Country AOR
Mls Provider:
Mls ID: #256294
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.