202 Mccormick LaneWilmingtonNC28411
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThe yield at 202 Mccormick Lane, Wilmington, NC, 28411 in Wilmington speaks for itself: 11.74% gross on a $199,000 price, generating $1,948/mo in rent and $735/mo in net income after the $895/mo debt service. DSCR 2.18, a wide margin that supports Ziffy Mortgage's DSCR loan without any personal income check. Annual cash flow of $8,817 stacks alongside $54,980 in projected five-year appreciation and $1,833/yr in principal reduction. Projected total cumulative return: $122,718.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 11.7% | 5.8% |
| Monthly Cash Flow | $735 | $1,850 |
City averages based on Wilmington market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,948 |
| Total Monthly Debt Service | $1,134 |
| DSCR Ratio | 1.72x |
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.
Manufactured
Built in 1991
0.34 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28411, Wilmington, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,804 (100%) |
| Owner Occupied HU | 12,470 (66.3%) |
| Renter Occupied HU | 4,319 (23.0%) |
| Vacant Housing Units | 2,015 (10.7%) |
| Median Home Value | $420,612 |
| Average Home Value | $504,642 |
Housing Distribution
Address Breakdown
Residential
18,379
Single Family
15,573
Multi-Family
2,806
Businesses
506
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
Manufactured
Built in 1991
0.34 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28411, Wilmington, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,804 (100%) |
| Owner Occupied HU | 12,470 (66.3%) |
| Renter Occupied HU | 4,319 (23.0%) |
| Vacant Housing Units | 2,015 (10.7%) |
| Median Home Value | $420,612 |
| Average Home Value | $504,642 |
Housing Distribution
Address Breakdown
Residential
18,379
Single Family
15,573
Multi-Family
2,806
Businesses
506
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices