224 Spruce Pines DrNewportNC28570
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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 Newport at 224 Spruce Pines Dr, Newport, NC, 28570 with 5% annual appreciation on a $125,000 basis while $949/mo rent supports operations. Total monthly income totals $949/mo and a $612/mo payment preserves $187/mo for cash returns. Annual cash flow comes to $2,244/yr on $41,438 deployed, and return on cash invested reaches 25.32% in year one. Equity gained on principal adds $807/yr, and five-year appreciation sums $34,535 alongside rental yield of 9.11%. Five-year ROI measures 131.75% and total cumulative return in cash totals $54,593.
Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $949/mo property income versus a $612/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.
Manufactured
Built in 2023
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28570, Newport, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,317 (100%) |
| Owner Occupied HU | 7,124 (57.8%) |
| Renter Occupied HU | 2,307 (18.7%) |
| Vacant Housing Units | 2,886 (23.4%) |
| Median Home Value | $324,479 |
| Average Home Value | $381,142 |
Housing Distribution
Address Breakdown
Residential
10,355
Single Family
9,594
Multi-Family
761
Businesses
433
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