2406 Neptune Way UNIT 2406Kitty HawkNC27949
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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 Kitty Hawk at 2406 Neptune Way UNIT 2406, Kitty Hawk, NC, 27949 offers a 9.99% rental yield on a $320,000 purchase with $2,665/mo rent. Total monthly income registers $2,665/mo, and a $1,566/mo payment leaves $715/mo available for distribution. Annual cash flow reaches $8,580/yr on $106,080 to close, and return on cash invested stands at 28% in year one. Equity gained on principal adds $2,065/yr while 5% annual appreciation supports $88,410 over five years. Portfolio math shows five-year ROI at 146.08% and total cumulative return in cash at $154,959. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,665/mo property income against a $1,566/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1989
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 27949, Kitty Hawk, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,943 (100%) |
| Owner Occupied HU | 3,354 (37.5%) |
| Renter Occupied HU | 513 ( 5.7%) |
| Vacant Housing Units | 5,076 (56.8%) |
| Median Home Value | $609,479 |
| Average Home Value | $682,932 |
Housing Distribution
Address Breakdown
Residential
4,417
Single Family
4,102
Multi-Family
315
Businesses
624
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Listed by: Ashley Contristan • Keller Williams - Outer Banks
Mls Name: OBAR
Mls ID: #130367