2 E Atlantic St UNIT 1Fenwick IslandDE19944
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayInvestors who prioritise long-run asset value over immediate income should consider 2 E Atlantic St UNIT 1, Fenwick Island, DE, 19944 in Fenwick Island. Rental yield 3.63%. At $674,900 with 3.63% gross yield, current distributions are modest, but the 5% appreciation rate projects $186,462 in new equity by year five, complemented by $6,216/yr in principal paydown. Ziffy Mortgage's DSCR loan (0.67) allows non-U.S. residents to acquire without W-2s or domestic credit. Total projected five-year cumulative return: $134,728.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 3.6% | 7.0% |
| Monthly Cash Flow | $(1,865) | $1,500 |
City averages based on Fenwick Island market data in our database. Property projections are estimates.
DSCR Rental Loan Qualification
Qualifies using the property's rental income, not your personal income.
- ✓No W-2, pay stubs, or tax returns needed
- ✓Rental income qualifies you
- ✓Built for real estate investors
| Monthly Rental Income | $2,040 |
| Total Monthly Debt Service | $3,637 |
| DSCR Ratio | 0.56x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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 1953
4,792 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 19944, Fenwick Island, DE area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,606 (100%) |
| Owner Occupied HU | 274 (17.1%) |
| Renter Occupied HU | 24 ( 1.5%) |
| Vacant Housing Units | 1,308 (81.4%) |
| Median Home Value | $1,010,638 |
| Average Home Value | $1,212,673 |
Housing Distribution
Address Breakdown
Residential
747
Single Family
747
Multi-Family
0
Businesses
81
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 1953
4,792 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 19944, Fenwick Island, DE area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,606 (100%) |
| Owner Occupied HU | 274 (17.1%) |
| Renter Occupied HU | 24 ( 1.5%) |
| Vacant Housing Units | 1,308 (81.4%) |
| Median Home Value | $1,010,638 |
| Average Home Value | $1,212,673 |
Housing Distribution
Address Breakdown
Residential
747
Single Family
747
Multi-Family
0
Businesses
81
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: CHRISY TINGLE • Keller Williams Realty
Mls Name: Bright MLS
Mls ID: #DESU2098432