Merlot-School Street Plan, School Street at CatawbaCorneliusNC28031
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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 Cornelius at Merlot-School Street Plan, School Street at Catawba, Cornelius, NC, 28031 priced at $549,900 converts $2,978/mo rent into after a $2,691/mo obligation. Total monthly income equals $2,978/mo. Return on cash invested prints 15.3% in year one, and rental yield reads 6.5% against a $549,900 entry. Equity gained on principal adds $3,548/yr, while 5% annual appreciation compiles into $151,927 by year five. Five-year ROI reaches 78.81% and total cumulative return in cash sums $142,574. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,978/mo property income covering a $2,691/mo payment, not borrower’s personal income.
Condo
Built in 2026
N/A lot
$N/A/sqft
$345 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28031, Cornelius, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,631 (100%) |
| Owner Occupied HU | 9,525 (65.1%) |
| Renter Occupied HU | 4,197 (28.7%) |
| Vacant Housing Units | 909 ( 6.2%) |
| Median Home Value | $621,577 |
| Average Home Value | $829,766 |
Housing Distribution
Address Breakdown
Residential
14,270
Single Family
10,984
Multi-Family
3,286
Businesses
1,619
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Listed by: N/A • Meeting Street Homes & Communities
Mls Name: Meeting Street Homes and Communities
Mls ID: #N/A