220 Gallery Dr #303Spring 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 220 Gallery Dr #303, Spring Lake, NC, 28390 offers a 5.55% rental yield on a $272,900 purchase with $1,262/mo rent. 72% in year one. Equity gained on principal adds $1,761/yr while 5% annual appreciation supports $75,397 over five years. Portfolio math shows five-year ROI at 54.88% and total cumulative return in cash at $49,644. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,262/mo property income against a $1,336/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 2025
N/A lot
$N/A/sqft
$291 monthly 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: TEAM ELITE POWERED BY COLDWELL BANKER ADVANTAGE • COLDWELL BANKER ADVANTAGE - FAYETTEVILLE
Mls Name: LPRMLS
Mls Provider:
Mls ID: #741381
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.