180 Irvin Garrish Hwy UNIT 201OcracokeNC27960
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeAt $235,000, 180 Irvin Garrish Hwy UNIT 201, Ocracoke, NC, 27960 in Ocracoke generates $1,620/mo in rent (8.27% yield) but nets only $188/mo after debt service. The spread is thin, manageable for investors comfortable with low-margin holds who are buying into the 5% annual appreciation thesis. Ziffy Mortgage's DSCR loan (1.53) allows non-U.S. residents to acquire without personal income checks. A larger down payment reduces the monthly debt load and widens the margin. Five-year appreciation: $64,926. Total projected return: $101,072.
| This Property | National Avg | |
|---|---|---|
| Gross Rental Yield | 8.3% | 6.2% |
| Monthly Cash Flow | $188 | $180 |
National averages based on 2024–2025 U.S. residential rental market data. Content is user-generated and unverified.
DSCR Loan Qualification
| Monthly Rental Income | $1,620 |
| Total Monthly Debt Service | $1,339 |
| DSCR Ratio | 1.21x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 1982
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 27960, Ocracoke, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 956 (100%) |
| Owner Occupied HU | 294 (30.8%) |
| Renter Occupied HU | 82 ( 8.6%) |
| Vacant Housing Units | 580 (60.7%) |
| Median Home Value | $627,246 |
| Average Home Value | $633,588 |
Housing Distribution
Address Breakdown
Residential
1
Single Family
1
Multi-Family
0
Businesses
154
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
Condo
Built in 1982
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 27960, Ocracoke, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 956 (100%) |
| Owner Occupied HU | 294 (30.8%) |
| Renter Occupied HU | 82 ( 8.6%) |
| Vacant Housing Units | 580 (60.7%) |
| Median Home Value | $627,246 |
| Average Home Value | $633,588 |
Housing Distribution
Address Breakdown
Residential
1
Single Family
1
Multi-Family
0
Businesses
154
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Bill Rich • The Rich Company of Ocracoke/OBX
Mls Name: OBAR
Mls Provider:
Mls ID: #126917
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.