124 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 124 Discovery Way, Spring Lake, NC, 28390 priced at $391,740 pairs $2,740/mo rent with $288/mo cash flow after a $1,917/mo payment. Total monthly income equals $2,740/mo, and annual cash flow comes to $3,459/yr on $129,862 invested. Return on cash invested is 22.57% in year one, and rental yield stands at 8.39% on a $391,740 basis. Equity gained on principal adds $2,528/yr, and 5% annual appreciation accumulates to $108,231 by year five. Five-year ROI measures 117.24% and total cumulative return in cash reaches $152,247. For financing, Ziffy Mortgage’s DSCR program evaluates $2,740/mo property income against a $1,917/mo payment instead of your W2s, 1099s, or Tax returns.
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: #753493
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.