288 Gallery Dr UNIT 204Spring 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 288 Gallery Dr UNIT 204, Spring Lake, NC, 28390 listed at $254,900 pairs $1,262/mo rent with a $1,248/mo payment. Total monthly income runs $1,262/mo. Return on cash invested measures 11.7% in year one, and rental yield registers 5.94% at a $254,900 basis. Equity gained on principal adds $1,645/yr, and annual property appreciation at 5% supports $70,424 by year five. Five-year ROI tracks 60.23% and total cumulative return in cash totals $50,892. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,262/mo property income relative to a $1,248/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Condo
Built in 2021
N/A lot
$N/A/sqft
$286 monthly 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: RABIN HUDSON TEAM POWERED BY AC REALTY • AC REALTY
Mls Name: LPRMLS
Mls Provider:
Mls ID: #747448
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.