128 Summerlake DrNew LondonNC28127
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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 New London at 128 Summerlake Dr, New London, NC, 28127 priced at $560,000 pairs $2,713/mo rent with after a $2,741/mo payment. Total monthly income equals $2,713/mo. Return on cash invested is 15.5% in year one, and rental yield stands at 5.81% on a $560,000 basis. Equity gained on principal adds $3,614/yr, and 5% annual appreciation accumulates to $154,718 by year five. Five-year ROI measures 79.03% and total cumulative return in cash reaches $145,613. For financing, Ziffy Mortgage’s DSCR program evaluates $2,713/mo property income against a $2,741/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 2023
0.89 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: Harry Saunders • Badin Lake Realty
Mls Name: Canopy MLS as distributed by MLS GRID
Mls ID: #4337429