1308 Corbett Street #A&BWilmingtonNC28401
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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 Wilmington at 1308 Corbett Street #A&B, Wilmington, NC, 28401 uses $238,525 cash to close to unlock $7,032/yr annual cash flow and $586/mo monthly cash flow. Total monthly income runs $5,005/mo, and a $3,549/mo payment keeps the spread at $586/mo. Purchase price stands at $725,000, and rental yield measures 8.28% with $5,005/mo rent. Return on cash invested shows 23.01% in year one, and 5% annual appreciation builds toward $200,304 over five years. Five-year ROI reaches 119.29% and total cumulative return in cash records $284,537. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $5,005/mo property income covering a $3,549/mo payment rather than investor’s personal income.
Multi Family
Built in 2023
5,227 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28401, Wilmington, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,193 (100%) |
| Owner Occupied HU | 4,617 (32.5%) |
| Renter Occupied HU | 7,604 (53.6%) |
| Vacant Housing Units | 1,972 (13.9%) |
| Median Home Value | $339,503 |
| Average Home Value | $385,916 |
Housing Distribution
Address Breakdown
Residential
13,488
Single Family
10,693
Multi-Family
2,795
Businesses
2,213
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Listed by: The Domenico Grillo Real Estate Team • Keller Williams Innovate-Wilmington
Mls Name: Hive MLS
Mls ID: #100545578