24265 Charleston LnMillsboroDE19966
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThe yield at 24265 Charleston Ln, Millsboro, DE, 19966 in Millsboro speaks for itself: 10.54% gross on a $399,990 price, generating $3,512/mo in rent and $822/mo in net income after the $1,799/mo debt service. DSCR 1.95, a wide margin that supports Ziffy Mortgage's DSCR loan without any personal income check. Annual cash flow of $9,864 stacks alongside $110,510 in projected five-year appreciation and $3,684/yr in principal reduction. Projected total cumulative return: $228,042.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.5% | 7.2% |
| Monthly Cash Flow | $822 | $450 |
City averages based on Millsboro market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,512 |
| Total Monthly Debt Service | $2,155 |
| DSCR Ratio | 1.63x |
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.
Single Family
Built in 2023
5,040 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 19966, Millsboro, DE area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 21,604 (100%) |
| Owner Occupied HU | 14,179 (65.6%) |
| Renter Occupied HU | 2,473 (11.4%) |
| Vacant Housing Units | 4,952 (22.9%) |
| Median Home Value | $388,066 |
| Average Home Value | $422,563 |
Housing Distribution
Address Breakdown
Residential
19,198
Single Family
17,358
Multi-Family
1,840
Businesses
713
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
Single Family
Built in 2023
5,040 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 19966, Millsboro, DE area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 21,604 (100%) |
| Owner Occupied HU | 14,179 (65.6%) |
| Renter Occupied HU | 2,473 (11.4%) |
| Vacant Housing Units | 4,952 (22.9%) |
| Median Home Value | $388,066 |
| Average Home Value | $422,563 |
Housing Distribution
Address Breakdown
Residential
19,198
Single Family
17,358
Multi-Family
1,840
Businesses
713
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices