298 E Cherry DrMagnoliaDE19962
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThe yield at 298 E Cherry Dr, Magnolia, DE, 19962 in Magnolia speaks for itself: 11.35% gross on a $239,900 price, generating $2,269/mo in rent and $881/mo in net income after the $1,079/mo debt service. DSCR 2.10, a wide margin that supports Ziffy Mortgage's DSCR loan without any personal income check. Annual cash flow of $10,573 stacks alongside $66,280 in projected five-year appreciation and $2,210/yr in principal reduction. Projected total cumulative return: $147,273.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 11.4% | 4.2% |
| Monthly Cash Flow | $881 | $850 |
City averages based on Magnolia market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,269 |
| Total Monthly Debt Service | $1,293 |
| DSCR Ratio | 1.76x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Manufactured
Built in 1991
0.41 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 19962, Magnolia, DE area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,236 (100%) |
| Owner Occupied HU | 4,190 (80.0%) |
| Renter Occupied HU | 864 (16.5%) |
| Vacant Housing Units | 182 ( 3.5%) |
| Median Home Value | $403,559 |
| Average Home Value | $400,849 |
Housing Distribution
Address Breakdown
Residential
5,202
Single Family
5,202
Multi-Family
0
Businesses
83
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Manufactured
Built in 1991
0.41 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 19962, Magnolia, DE area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,236 (100%) |
| Owner Occupied HU | 4,190 (80.0%) |
| Renter Occupied HU | 864 (16.5%) |
| Vacant Housing Units | 182 ( 3.5%) |
| Median Home Value | $403,559 |
| Average Home Value | $400,849 |
Housing Distribution
Address Breakdown
Residential
5,202
Single Family
5,202
Multi-Family
0
Businesses
83
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices