2304 Riddle Ave APT 304WilmingtonDE19806
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowDay-one income is the story at 2304 Riddle Ave APT 304, Wilmington, DE, 19806 in Wilmington. Priced at $249,000, it generates $2,357/mo in gross rent and $916/mo in net monthly cash flow, a 11.36% yield that comfortably supports the 2.10 DSCR needed for Ziffy Mortgage's no-W2 DSCR mortgage. Projected annual cash flow: $10,993. Five-year appreciation: $68,794. Equity from principal paydown: $2,293/yr. Total projected cumulative return: $152,913.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 11.4% | 6.5% |
| Monthly Cash Flow | $916 | $1,250 |
City averages based on Wilmington market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,357 |
| Total Monthly Debt Service | $1,342 |
| DSCR Ratio | 1.76x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 1965
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 19806, Wilmington, DE area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,288 (100%) |
| Owner Occupied HU | 2,978 (47.4%) |
| Renter Occupied HU | 2,769 (44.0%) |
| Vacant Housing Units | 541 ( 8.6%) |
| Median Home Value | $472,552 |
| Average Home Value | $509,621 |
Housing Distribution
Address Breakdown
Residential
6,022
Single Family
2,875
Multi-Family
3,147
Businesses
440
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
Condo
Built in 1965
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 19806, Wilmington, DE area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,288 (100%) |
| Owner Occupied HU | 2,978 (47.4%) |
| Renter Occupied HU | 2,769 (44.0%) |
| Vacant Housing Units | 541 ( 8.6%) |
| Median Home Value | $472,552 |
| Average Home Value | $509,621 |
Housing Distribution
Address Breakdown
Residential
6,022
Single Family
2,875
Multi-Family
3,147
Businesses
440
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Nancy Greenberg • Compass
Mls Name: Bright MLS
Mls ID: #DENC2091642