281 Old Salem DrSpring LakeNC28390
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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 Spring Lake at 281 Old Salem Dr, Spring Lake, NC, 28390 with 5% annual appreciation on a $175,000 basis while $1,362/mo rent supports operations. Total monthly income totals $1,362/mo and a $857/mo payment preserves $295/mo for cash returns. Annual cash flow comes to $3,540/yr on $58,013 deployed, and return on cash invested reaches 26.01% in year one. Equity gained on principal adds $1,129/yr, and five-year appreciation sums $48,349 alongside rental yield of 9.34%. Five-year ROI measures 135.44% and total cumulative return in cash totals $78,571.
Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $1,362/mo property income versus a $857/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.
Manufactured
Built in 1998
0.39 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28390, Spring Lake, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,066 (100%) |
| Owner Occupied HU | 4,891 (44.2%) |
| Renter Occupied HU | 4,958 (44.8%) |
| Vacant Housing Units | 1,217 (11.0%) |
| Median Home Value | $271,254 |
| Average Home Value | $262,656 |
Housing Distribution
Address Breakdown
Residential
10,417
Single Family
8,619
Multi-Family
1,798
Businesses
619
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Listed by: MEAGAN PERRY • INTEGRA REALTY
Mls Name: LPRMLS
Mls ID: #749837