24523 Merlot DrLewesDE19958
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
Investment Highlights
Investment property for sale in Lewes at 24523 Merlot Dr, Lewes, DE, 19958 uses $139,230 cash to close to unlock $5,154/yr annual cash flow and $430/mo monthly cash flow. Total monthly income runs $2,860/mo, and a $2,056/mo payment keeps the spread at $430/mo. Purchase price stands at $420,000, and rental yield measures 8.17% with $2,860/mo rent. Return on cash invested shows 23.61% in year one, and 5% annual appreciation builds toward $116,038 over five years. Five-year ROI reaches 122.18% and total cumulative return in cash records $170,107. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,860/mo property income covering a $2,056/mo payment rather than investor’s personal income.
Condo
Built in 2022
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 19958, Lewes, DE area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 23,534 (100%) |
| Owner Occupied HU | 14,199 (60.3%) |
| Renter Occupied HU | 2,726 (11.6%) |
| Vacant Housing Units | 6,609 (28.1%) |
| Median Home Value | $533,378 |
| Average Home Value | $591,039 |
Housing Distribution
Address Breakdown
Residential
20,456
Single Family
20,000
Multi-Family
456
Businesses
993
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices