105 120th St UNIT 10AOcean CityMD21842
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThe cash-flow margin at 105 120th St UNIT 10A, Ocean City, MD, 21842 in Ocean City is narrow, $188/mo net on $1,799/mo rent after the $1,165/mo debt service, but the property operates at break-even-plus, not a loss. At $259,000 with a 8.33% yield, the long-run equity case via 5% appreciation ($71,557 over five years) and $2,385/yr in principal paydown is where the returns accumulate. Ziffy Mortgage's 1.54 DSCR loan requires no W-2s or U.S. credit. Total projected cumulative return: $110,333.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.3% | 6.0% |
| Monthly Cash Flow | $188 | $1,200 |
City averages based on Ocean City market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,799 |
| Total Monthly Debt Service | $1,508 |
| DSCR Ratio | 1.19x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 1986
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 21842, Ocean City, MD area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 32,930 (100%) |
| Owner Occupied HU | 4,053 (12.3%) |
| Renter Occupied HU | 1,593 ( 4.8%) |
| Vacant Housing Units | 27,284 (82.9%) |
| Median Home Value | $504,097 |
| Average Home Value | $573,881 |
Housing Distribution
Address Breakdown
Residential
7,594
Single Family
6,265
Multi-Family
1,329
Businesses
1,500
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
Condo
Built in 1986
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 21842, Ocean City, MD area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 32,930 (100%) |
| Owner Occupied HU | 4,053 (12.3%) |
| Renter Occupied HU | 1,593 ( 4.8%) |
| Vacant Housing Units | 27,284 (82.9%) |
| Median Home Value | $504,097 |
| Average Home Value | $573,881 |
Housing Distribution
Address Breakdown
Residential
7,594
Single Family
6,265
Multi-Family
1,329
Businesses
1,500
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Sally Todd Stout • Berkshire Hathaway HomeServices PenFed Realty - OP
Mls Name: Bright MLS
Mls ID: #MDWO2034120