20802 Spring Lake Dr UNIT 427Rehoboth BeachDE19971
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
Investment Highlights
Investment property for sale in Rehoboth Beach at 20802 Spring Lake Dr UNIT 427, Rehoboth Beach, DE, 19971 offers a 5.04% rental yield on a $565,000 purchase with $2,371/mo rent. 26% in year one. Equity gained on principal adds $3,646/yr while 5% annual appreciation supports $156,099 over five years. Portfolio math shows five-year ROI at 72.03% and total cumulative return in cash at $133,887. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,371/mo property income against a $2,765/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1985
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 19971, Rehoboth Beach, DE area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,117 (100%) |
| Owner Occupied HU | 6,931 (38.3%) |
| Renter Occupied HU | 1,380 ( 7.6%) |
| Vacant Housing Units | 9,806 (54.1%) |
| Median Home Value | $664,792 |
| Average Home Value | $784,663 |
Housing Distribution
Address Breakdown
Residential
11,678
Single Family
11,217
Multi-Family
461
Businesses
1,323
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Joe Maggio • Dave McCarthy & Associates, Inc.
Mls Name: Bright MLS
Mls ID: #DESU2087972