27 Iris Ln, Newark, DE, 19702 | $555/mo Cash Flow

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

Home Type: Single Family

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27 Iris Ln, Newark, DE, 19702 | $555/mo Cash Flow | Ziffy

For Sale

Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Investment property for sale in Newark at 27 Iris Ln, Newark, DE, 19702 earns $555/mo cash flow from $2,508/mo rent with a $1,652/mo payment. Total monthly income totals $2,508/mo, and annual cash flow totals $6,661/yr on $111,881 capital. ROI tracks 25.86% on current figures, and rental yield reads 8.92% at a $337,500 purchase. Equity gained on principal adds $2,178/yr, and 5% annual appreciation supports $93,245 over five years. Five-year ROI reaches 134.29% and total cumulative return in cash sums $150,241. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $2,508/mo property income instead of your personal income.

Single Family

Built in 1988

8,712 sqft lot

$N/A/sqft

No HOA

More details about the property

Welcome to 27 Iris Lane in Newark! Upon entry youll be greeted by the tile entryway and see the hardwood flooring throughout the rest of the first floor. The kitchen has been recently updated with granite counters, new wood cabinets and a beautiful tile backsplash along with newer stainless steel appliances. The spacious living room features a wood burning fireplace, a rarity in the community. Outside of the kitchen you will find the dining room. A 1/2 bath completes the first floor. The second floor features a sizable primary bedroom with plenty of closet space and direct access to the hall bath. Two additional bedrooms with plenty of natural light complete the second floor of this home. The finished basement allows for a family room area and features a full bar with included barstools so you'll be ready to entertain. The laundry area is also here in the lower level. The incredible yard is a true highlight of this great property. One of the largest lots in the community is backed by woods giving a feeling of complete privacy when enjoying the expansive deck or the fenced yard. Other bonuses included an attached 1-car garage and driveway parking for 2 cars.

Neighborhood Data

Neighborhood data shown for ZIP Code: 19702, Newark, DE area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	22,212 (100%)
Owner Occupied HU	14,557 (65.5%)
Renter Occupied HU	6,887 (31.0%)
Vacant Housing Units	768 ( 3.5%)
Median Home Value	$366,125
Average Home Value	$375,328