24 West StDewey beachDE19971
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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
Rental property for sale in Dewey beach at 24 West St, Dewey beach, DE, 19971 priced at $1,600,000 converts $2,615/mo rent into after a $7,831/mo obligation. Total monthly income equals $2,615/mo. Return on cash invested prints 4.99% in year one, and rental yield reads 1.96% against a $1,600,000 entry. Equity gained on principal adds $10,325/yr, while 5% annual appreciation compiles into $442,051 by year five. Five-year ROI reaches 22.22% and total cumulative return in cash sums $115,191. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,615/mo property income covering a $7,831/mo payment, not borrower’s personal income.
Single Family
Built in 1963
4,792 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 19971, Rehoboth Beach, DE area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,117 (100%) |
| Owner Occupied HU | 6,931 (38.3%) |
| Renter Occupied HU | 1,380 ( 7.6%) |
| Vacant Housing Units | 9,806 (54.1%) |
| Median Home Value | $664,792 |
| Average Home Value | $784,663 |
Housing Distribution
Address Breakdown
Residential
11,678
Single Family
11,217
Multi-Family
461
Businesses
1,323
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Listed by: BILL GAINES • Patterson-Schwartz-OceanView
Mls Name: Bright MLS
Mls ID: #DESU2097462