2301 Philadelphia Ave #510Ocean CityMD21842
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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 Ocean City at 2301 Philadelphia Ave #510, Ocean City, MD, 21842 offers a 9.61% rental yield on a $218,000 purchase with $1,746/mo rent. Total monthly income registers $1,746/mo, and a $1,067/mo payment leaves $390/mo available for distribution. Annual cash flow reaches $4,682/yr on $72,267 to close, and return on cash invested stands at 26.39% in year one. Equity gained on principal adds $1,407/yr while 5% annual appreciation supports $60,229 over five years. Portfolio math shows five-year ROI at 137.68% and total cumulative return in cash at $99,499. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,746/mo property income against a $1,067/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1975
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 21842, Ocean City, MD area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 32,930 (100%) |
| Owner Occupied HU | 4,053 (12.3%) |
| Renter Occupied HU | 1,593 ( 4.8%) |
| Vacant Housing Units | 27,284 (82.9%) |
| Median Home Value | $504,097 |
| Average Home Value | $573,881 |
Housing Distribution
Address Breakdown
Residential
7,594
Single Family
6,265
Multi-Family
1,329
Businesses
1,500
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Listed by: Edward Galyon • Seaside Vacations and Sales LLC
Mls Name: Bright MLS
Mls ID: #MDWO2035740