LOT 3 Meadow StSpencerNC28159
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 Spencer at LOT 3 Meadow St, Spencer, NC, 28159 priced at $234,900 converts $2,056/mo rent into $624/mo cash flow after a $1,150/mo obligation. Total monthly income equals $2,056/mo, and annual cash flow totals $7,489/yr on $77,869 invested. Return on cash invested prints 29.53% in year one, and rental yield reads 10.5% against a $234,900 entry. Equity gained on principal adds $1,516/yr, while 5% annual appreciation compiles into $64,899 by year five. Five-year ROI reaches 154.35% and total cumulative return in cash sums $120,189. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,056/mo property income covering a $1,150/mo payment, not borrower’s personal income.
Single Family
Built in 2024
0.12 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28159, Spencer, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,419 (100%) |
| Owner Occupied HU | 742 (52.3%) |
| Renter Occupied HU | 502 (35.4%) |
| Vacant Housing Units | 175 (12.3%) |
| Median Home Value | $187,342 |
| Average Home Value | $265,425 |
Housing Distribution
Address Breakdown
Residential
1,297
Single Family
1,289
Multi-Family
8
Businesses
128
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Geoff Stafford • CEDAR REALTY LLC
Mls Name: Canopy MLS as distributed by MLS GRID
Mls Provider:
Mls ID: #4155295
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)