117 Pier AveNew LondonNC28127
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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 New London at 117 Pier Ave, New London, NC, 28127 offers $825/mo rent that, after a $524/mo payment, leaves $173/mo cash flow. Total monthly income is $825/mo, and annual cash flow is $2,071/yr on $35,471 cash. Return on cash invested measures 25.75% in year one, and rental yield stands at 9.25% at a $107,000 entry. Equity gained on principal adds $690/yr while 5% annual appreciation compounds into $29,562 by year five. Five-year ROI records 134.12% and total cumulative return in cash reaches $47,574. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $825/mo property income versus a $524/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Manufactured
Built in 2017
0.07 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28127, New London, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,691 (100%) |
| Owner Occupied HU | 2,437 (52.0%) |
| Renter Occupied HU | 506 (10.8%) |
| Vacant Housing Units | 1,748 (37.3%) |
| Median Home Value | $317,462 |
| Average Home Value | $393,053 |
Housing Distribution
Address Breakdown
Residential
3,344
Single Family
3,344
Multi-Family
0
Businesses
132
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Listed by: Debbie Coley • Debbie C Realty, LLC
Mls Name: Triad MLS
Mls ID: #1188037