2040 Newport News St LOT 1237Kill Devil HillsNC27948
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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 Kill Devil Hills at 2040 Newport News St LOT 1237, Kill Devil Hills, NC, 27948 uses $79,560 cash to close to unlock $21,324/yr annual cash flow and $1,777/mo monthly cash flow. Total monthly income runs $3,240/mo, and a $1,175/mo payment keeps the spread at $1,777/mo. Purchase price stands at $240,000, and rental yield measures 16.2% with $3,240/mo rent. Return on cash invested shows 46.71% in year one, and 5% annual appreciation builds toward $66,308 over five years. Five-year ROI reaches 246.43% and total cumulative return in cash records $196,058. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $3,240/mo property income covering a $1,175/mo payment rather than investor’s personal income.
Single Family
Built in 1972
4,791 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 27948, Kill Devil Hills, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,396 (100%) |
| Owner Occupied HU | 4,212 (40.5%) |
| Renter Occupied HU | 1,474 (14.2%) |
| Vacant Housing Units | 4,710 (45.3%) |
| Median Home Value | $412,266 |
| Average Home Value | $464,955 |
Housing Distribution
Address Breakdown
Residential
6,568
Single Family
6,568
Multi-Family
0
Businesses
538
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Listed by: William W Richardson • Harrell & Associates
Mls Name: OBAR
Mls Provider:
Mls ID: #129340
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.