2601 Gull Way UNIT 28Ocean CityMD21842
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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 Ocean City at 2601 Gull Way UNIT 28, Ocean City, MD, 21842 uses $97,461 cash to close to unlock $3,245/yr annual cash flow and $270/mo monthly cash flow. Total monthly income runs $2,099/mo, and a $1,439/mo payment keeps the spread at $270/mo. Purchase price stands at $294,000, and rental yield measures 8.57% with $2,099/mo rent. Return on cash invested shows 23.24% in year one, and 5% annual appreciation builds toward $81,227 over five years. Five-year ROI reaches 120.76% and total cumulative return in cash records $117,696. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,099/mo property income covering a $1,439/mo payment rather than investor’s personal income.
Condo
Built in 1972
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 21842, Ocean City, MD area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 32,930 (100%) |
| Owner Occupied HU | 4,053 (12.3%) |
| Renter Occupied HU | 1,593 ( 4.8%) |
| Vacant Housing Units | 27,284 (82.9%) |
| Median Home Value | $504,097 |
| Average Home Value | $573,881 |
Housing Distribution
Address Breakdown
Residential
7,594
Single Family
6,265
Multi-Family
1,329
Businesses
1,500
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Listed by: Shawn Kotwica • Coldwell Banker Realty
Mls Name: Bright MLS
Mls ID: #MDWO2034980