2604 S Memorial Ave LOT 10Nags HeadNC27959
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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 Nags Head at 2604 S Memorial Ave LOT 10, Nags Head, NC, 27959 generates $4,920/mo in rent, after a $5,262/mo payment. Total monthly income is $4,920/mo. Return on cash invested sits at 14.75% in year one, and rental yield is 5.49% on a $1,075,000 entry. Equity gained on principal adds $6,937/yr, while 5% annual appreciation builds toward $297,003 over five years. Five-year ROI reaches 74.93% and total cumulative return in cash sums $260,982. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $4,920/mo property income rather than buyer’s personal income.
Single Family
Built in 2023
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 27959, Nags Head, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,475 (100%) |
| Owner Occupied HU | 1,199 (21.9%) |
| Renter Occupied HU | 294 ( 5.4%) |
| Vacant Housing Units | 3,982 (72.7%) |
| Median Home Value | $493,060 |
| Average Home Value | $578,025 |
Housing Distribution
Address Breakdown
Residential
1,241
Single Family
1,241
Multi-Family
0
Businesses
325
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Listed by: Amy M Scarborough • Southern Cottage Realty, Inc
Mls Name: OBAR
Mls Provider:
Mls ID: #128592
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.