2976 Cedar Island RoadCedar IslandNC28520
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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 Cedar Island at 2976 Cedar Island Road, Cedar Island, NC, 28520 generates $1,679/mo in rent and, after a $1,175/mo payment, leaves $216/mo in cash flow. Total monthly income is $1,679/mo, and annual cash flow is $2,592/yr on $79,560 invested. Return on cash invested sits at 23.17% in year one, and rental yield is 8.39% on a $240,000 entry. Equity gained on principal adds $1,549/yr, while 5% annual appreciation builds toward $66,308 over five years. Five-year ROI reaches 120.2% and total cumulative return in cash sums $95,630. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,679/mo property income rather than buyer’s personal income.
Manufactured
Built in 2002
0.52 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28520, Cedar Island, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 227 (100%) |
| Owner Occupied HU | 113 (49.8%) |
| Renter Occupied HU | 18 ( 7.9%) |
| Vacant Housing Units | 96 (42.3%) |
| Median Home Value | $455,263 |
| Average Home Value | $464,381 |
Housing Distribution
Address Breakdown
Residential
130
Single Family
130
Multi-Family
0
Businesses
7
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Listed by: SARAH BENISCHEK • IBX Coastal Living
Mls Name: Hive MLS
Mls ID: #100513818