106 Discovery WaySpring LakeNC28390
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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 Spring Lake at 106 Discovery Way, Spring Lake, NC, 28390 priced at $383,740 converts $2,804/mo rent into $401/mo cash flow after a $1,878/mo obligation. Total monthly income equals $2,804/mo, and annual cash flow totals $4,810/yr on $127,210 invested. Return on cash invested prints 23.69% in year one, and rental yield reads 8.77% against a $383,740 entry. Equity gained on principal adds $2,476/yr, while 5% annual appreciation compiles into $106,020 by year five. Five-year ROI reaches 123.22% and total cumulative return in cash sums $156,743. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,804/mo property income covering a $1,878/mo payment, not borrower’s personal income.
Single Family
Built in 2025
0.31 Acres lot
$N/A/sqft
$194 quarterly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28390, Spring Lake, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,066 (100%) |
| Owner Occupied HU | 4,891 (44.2%) |
| Renter Occupied HU | 4,958 (44.8%) |
| Vacant Housing Units | 1,217 (11.0%) |
| Median Home Value | $271,254 |
| Average Home Value | $262,656 |
Housing Distribution
Address Breakdown
Residential
10,417
Single Family
8,619
Multi-Family
1,798
Businesses
619
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Listed by: JANET ROGERS • DR HORTON INC.
Mls Name: LPRMLS
Mls Provider:
Mls ID: #753490
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.