245 Driftwood StMorro BayCA93442
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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 Morro Bay at 245 Driftwood St, Morro Bay, CA, 93442 priced at $1,700,000 converts $5,353/mo rent into after a $8,321/mo obligation. Total monthly income equals $5,353/mo. Return on cash invested prints 9.12% in year one, and rental yield reads 3.78% against a $1,700,000 entry. Equity gained on principal adds $10,970/yr, while 5% annual appreciation compiles into $469,679 by year five. Five-year ROI reaches 44.89% and total cumulative return in cash sums $247,231. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $5,353/mo property income covering a $8,321/mo payment, not borrower’s personal income.
Single Family
Built in 2007
4,519 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 93442, Morro Bay, CA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,023 (100%) |
| Owner Occupied HU | 3,052 (43.5%) |
| Renter Occupied HU | 2,245 (32.0%) |
| Vacant Housing Units | 1,726 (24.6%) |
| Median Home Value | $900,602 |
| Average Home Value | $989,842 |
Housing Distribution
Address Breakdown
Residential
5,790
Single Family
5,479
Multi-Family
311
Businesses
558
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Listed by: Carrie Schechter • Platinum Properties
Mls Name: CRMLS
Mls ID: #NS25124701