124 Mellen RoadNew BernNC28562
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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
Investment property for sale in New Bern at 124 Mellen Road, New Bern, NC, 28562 offers a 7.74% rental yield on a $465,000 purchase with $2,999/mo rent. Total monthly income registers $2,999/mo, and a $2,276/mo payment leaves $137/mo available for distribution. Annual cash flow reaches $1,645/yr on $154,148 to close, and return on cash invested stands at 20.98% in year one. Equity gained on principal adds $3,001/yr while 5% annual appreciation supports $128,471 over five years. Portfolio math shows five-year ROI at 108.54% and total cumulative return in cash at $167,315. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,999/mo property income against a $2,276/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 2001
0.43 Acres lot
$N/A/sqft
$335 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28562, New Bern, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,840 (100%) |
| Owner Occupied HU | 12,545 (63.2%) |
| Renter Occupied HU | 5,417 (27.3%) |
| Vacant Housing Units | 1,878 ( 9.5%) |
| Median Home Value | $309,299 |
| Average Home Value | $328,109 |
Housing Distribution
Address Breakdown
Residential
19,736
Single Family
17,798
Multi-Family
1,938
Businesses
1,251
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Listed by: The DONNA AND TEAM NEW BERN • Keller Williams Realty
Mls Name: Hive MLS
Mls Provider:
Mls ID: #100480342
Disclaimer: The data relating to real estate on this web site comes in part from the Internet Data Exchange program of Hive MLS, and is updated as of 2025-02-22 22:07:30 PST. All information is deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor Zillow, Inc. shall be responsible for any typographical errors, misinformation, or misprints, and shall be held totally harmless from any damages arising from reliance upon these data. 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. 2025-02-22 22:07:30 PST Hive MLS