2164 Ray RdSpring LakeNC28390
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 Spring Lake at 2164 Ray Rd, Spring Lake, NC, 28390 offers a 7.32% rental yield on a $293,999 purchase with $1,793/mo rent. Total monthly income registers $1,793/mo, and a $1,439/mo payment leaves $1/mo available for distribution. Annual cash flow reaches $14/yr on $97,461 to close, and return on cash invested stands at 19.92% in year one. Equity gained on principal adds $1,897/yr while 5% annual appreciation supports $81,227 over five years. Portfolio math shows five-year ROI at 102.85% and total cumulative return in cash at $100,236. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,793/mo property income against a $1,439/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1962
1 Acres 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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Nearby investment properties with comparable prices
Listed by: Teresa Suitt • Intracoastal Realty Corp
Mls Name: Doorify MLS
Mls Provider:
Mls ID: #2531644
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