2307 False Cape Rd LOT 16CorollaNC27927
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
Rental property for sale in Corolla at 2307 False Cape Rd LOT 16, Corolla, NC, 27927 generates $2,690/mo in rent, after a $2,344/mo payment. Total monthly income is $2,690/mo. Return on cash invested sits at 18.18% in year one, and rental yield is 6.74% on a $479,000 entry. Equity gained on principal adds $3,091/yr, while 5% annual appreciation builds toward $132,339 over five years. Five-year ROI reaches 93.46% and total cumulative return in cash sums $148,407. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,690/mo property income rather than buyer’s personal income.
Single Family
Built in 1983
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 27927, Corolla, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,285 (100%) |
| Owner Occupied HU | 683 (12.9%) |
| Renter Occupied HU | 91 ( 1.7%) |
| Vacant Housing Units | 4,511 (85.4%) |
| Median Home Value | $612,374 |
| Average Home Value | $647,445 |
Housing Distribution
Address Breakdown
Residential
800
Single Family
799
Multi-Family
1
Businesses
148
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Trisha Midgett & Team • Midgett Realty - Rodanthe
Mls Name: OBAR
Mls ID: #131540