198 Morris DrSpring 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 198 Morris Dr, Spring Lake, NC, 28390 generates $915/mo in rent and, after a $563/mo payment, leaves $214/mo in cash flow. Total monthly income is $915/mo, and annual cash flow is $2,568/yr on $38,123 invested. Return on cash invested sits at 26.65% in year one, and rental yield is 9.55% on a $115,000 entry. Equity gained on principal adds $742/yr, while 5% annual appreciation builds toward $31,772 over five years. Five-year ROI reaches 138.81% and total cumulative return in cash sums $52,917. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $915/mo property income rather than buyer’s personal income.
Single Family
Built in 1979
10,018 sqft lot
$N/A/sqft
No 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: Andrea Andrado Ochoa • Collective Realty LLC
Mls Name: Doorify MLS
Mls ID: #10111465