87 CherrySpartaNC28675
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 Sparta at 87 Cherry, Sparta, NC, 28675 priced at $189,000 converts $1,326/mo rent into $174/mo cash flow after a $925/mo obligation. Total monthly income equals $1,326/mo, and annual cash flow totals $2,090/yr on $62,654 invested. Return on cash invested prints 23.25% in year one, and rental yield reads 8.42% against a $189,000 entry. Equity gained on principal adds $1,220/yr, while 5% annual appreciation compiles into $52,217 by year five. Five-year ROI reaches 120.66% and total cumulative return in cash sums $75,598. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,326/mo property income covering a $925/mo payment, not borrower’s personal income.
Single Family
Built in 1956
1.24 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28675, Sparta, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,904 (100%) |
| Owner Occupied HU | 2,136 (54.7%) |
| Renter Occupied HU | 765 (19.6%) |
| Vacant Housing Units | 1,003 (25.7%) |
| Median Home Value | $295,390 |
| Average Home Value | $371,699 |
Housing Distribution
Address Breakdown
Residential
2,908
Single Family
2,908
Multi-Family
0
Businesses
340
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Listed by: Susan Miles • Miles Realty
Mls Name: High Country AOR
Mls Provider:
Mls ID: #252835
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.