1228 Spring AveSpring LakeNC28390
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
Investment Highlights
Investment property for sale in Spring Lake at 1228 Spring Ave, Spring Lake, NC, 28390 uses $34,808 cash to close to unlock $12,432/yr annual cash flow and $1,036/mo monthly cash flow. Total monthly income runs $1,676/mo, and a $514/mo payment keeps the spread at $1,036/mo. Purchase price stands at $105,000, and rental yield measures 19.15% with $1,676/mo rent. Return on cash invested shows 55.63% in year one, and 5% annual appreciation builds toward $29,010 over five years. Five-year ROI reaches 294.22% and total cumulative return in cash records $102,410. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,676/mo property income covering a $514/mo payment rather than investor’s personal income.
Single Family
Built in 1950
0.27 Acres lot
$N/A/sqft
No 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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Nearby investment properties with comparable prices
Listed by: Rosangela Leon • Profit Point Real Estate
Mls Name: Doorify MLS
Mls Provider:
Mls ID: #10062669
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