856 Cherokee RdCharlotteNC28207
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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 Charlotte at 856 Cherokee Rd, Charlotte, NC, 28207 priced at $795,000 converts $4,091/mo rent into after a $3,891/mo obligation. Total monthly income equals $4,091/mo. Return on cash invested prints 16.6% in year one, and rental yield reads 6.18% against a $795,000 entry. Equity gained on principal adds $5,130/yr, while 5% annual appreciation compiles into $219,644 by year five. Five-year ROI reaches 84.94% and total cumulative return in cash sums $222,154. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $4,091/mo property income covering a $3,891/mo payment, not borrower’s personal income.
Condo
Built in 1974
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28207, Charlotte, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,964 (100%) |
| Owner Occupied HU | 3,046 (76.8%) |
| Renter Occupied HU | 673 (17.0%) |
| Vacant Housing Units | 245 ( 6.2%) |
| Median Home Value | $1,365,653 |
| Average Home Value | $1,413,308 |
Housing Distribution
Address Breakdown
Residential
4,258
Single Family
2,935
Multi-Family
1,323
Businesses
338
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Listed by: Marcelo Halpern • Geoff Campbell Realty Inc
Mls Name: Canopy MLS as distributed by MLS GRID
Mls ID: #4302455