222 Odell RdSpring LakeNC28390
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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 Spring Lake at 222 Odell Rd, Spring Lake, NC, 28390 uses $59,339 cash to close to unlock $3,458/yr annual cash flow and $288/mo monthly cash flow. Total monthly income runs $1,379/mo, and a $876/mo payment keeps the spread at $288/mo. Purchase price stands at $179,000, and rental yield measures 9.24% with $1,379/mo rent. Return on cash invested shows 25.74% in year one, and 5% annual appreciation builds toward $49,454 over five years. Five-year ROI reaches 134.02% and total cumulative return in cash records $79,527. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,379/mo property income covering a $876/mo payment rather than investor’s personal income.
Single Family
Built in 1962
0.69 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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Listed by: SOLOMON WOODS • WOODS REALTY TEAM, INC.
Mls Name: LPRMLS
Mls ID: #753420