1144 Island CoveWilmingtonNC28412
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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 Wilmington at 1144 Island Cove, Wilmington, NC, 28412 generates $2,154/mo in rent and, after a $1,708/mo payment, leaves $27/mo in cash flow. Total monthly income is $2,154/mo, and annual cash flow is $326/yr on $115,694 invested. Return on cash invested sits at 20.19% in year one, and rental yield is 7.41% on a $349,000 entry. Equity gained on principal adds $2,252/yr, while 5% annual appreciation builds toward $96,422 over five years. Five-year ROI reaches 104.25% and total cumulative return in cash sums $120,612. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,154/mo property income rather than buyer’s personal income.
Townhouse
Built in 2004
1,306 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28412, Wilmington, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 24,383 (100%) |
| Owner Occupied HU | 12,950 (53.1%) |
| Renter Occupied HU | 9,242 (37.9%) |
| Vacant Housing Units | 2,191 ( 9.0%) |
| Median Home Value | $396,597 |
| Average Home Value | $451,674 |
Housing Distribution
Address Breakdown
Residential
23,810
Single Family
18,795
Multi-Family
5,015
Businesses
956
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Listed by: Tyler T Caproni • Keller Williams Innovate-Wilmington
Mls Name: Hive MLS
Mls ID: #100546033