240 N Water Street #556WilmingtonNC28401
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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 Wilmington at 240 N Water Street #556, Wilmington, NC, 28401 listed at $699,000 pairs $3,347/mo rent with a $3,421/mo payment. Total monthly income runs $3,347/mo. Return on cash invested measures 9.47% in year one, and rental yield registers 5.75% at a $699,000 basis. Equity gained on principal adds $4,511/yr, and annual property appreciation at 5% supports $193,121 by year five. Five-year ROI tracks 48.82% and total cumulative return in cash totals $112,274. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $3,347/mo property income relative to a $3,421/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Condo
Built in 2019
1,306 sqft lot
$N/A/sqft
$13,395 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28401, Wilmington, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,193 (100%) |
| Owner Occupied HU | 4,617 (32.5%) |
| Renter Occupied HU | 7,604 (53.6%) |
| Vacant Housing Units | 1,972 (13.9%) |
| Median Home Value | $339,503 |
| Average Home Value | $385,916 |
Housing Distribution
Address Breakdown
Residential
13,488
Single Family
10,693
Multi-Family
2,795
Businesses
2,213
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Listed by: Gary J Traflet • Living Seaside Realty Group
Mls Name: Hive MLS
Mls Provider:
Mls ID: #100496681
Disclaimer: The data relating to real estate on this web site comes in part from the Internet Data Exchange program of Hive MLS, and is updated as of 2025-03-26 08:39:41 PDT. All information is deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor Zillow, Inc. shall be responsible for any typographical errors, misinformation, or misprints, and shall be held totally harmless from any damages arising from reliance upon these data. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. 2025-03-26 08:39:41 PDT Hive MLS