2802 Tern Dr UNIT 17Ocean 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
Rental property for sale in Ocean City at 2802 Tern Dr UNIT 17, Ocean City, MD, 21842 generates $2,279/mo in rent, after a $2,447/mo payment. Total monthly income is $2,279/mo. Return on cash invested sits at 13.9% in year one, and rental yield is 5.47% on a $499,999 entry. Equity gained on principal adds $3,226/yr, while 5% annual appreciation builds toward $138,141 over five years. Five-year ROI reaches 70.64% and total cumulative return in cash sums $117,091. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,279/mo property income rather than buyer’s personal income.
Townhouse
Built in 1983
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: homecoin.com Minerick • Homecoin.com
Mls Name: Bright MLS
Mls ID: #MDWO2032756