302 W Albemarle Dr LOT 22Nags HeadNC27959
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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 Nags Head at 302 W Albemarle Dr LOT 22, Nags Head, NC, 27959 uses $140,888 cash to close to unlock $4,920/yr annual cash flow and $410/mo monthly cash flow. Total monthly income runs $3,000/mo, and a $2,080/mo payment keeps the spread at $410/mo. Purchase price stands at $425,000, and rental yield measures 8.47% with $3,000/mo rent. Return on cash invested shows 23.4% in year one, and 5% annual appreciation builds toward $117,420 over five years. Five-year ROI reaches 121.44% and total cumulative return in cash records $171,089. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $3,000/mo property income covering a $2,080/mo payment rather than investor’s personal income.
Single Family
Built in 1989
6,098 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 27959, Nags Head, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,475 (100%) |
| Owner Occupied HU | 1,199 (21.9%) |
| Renter Occupied HU | 294 ( 5.4%) |
| Vacant Housing Units | 3,982 (72.7%) |
| Median Home Value | $493,060 |
| Average Home Value | $578,025 |
Housing Distribution
Address Breakdown
Residential
1,241
Single Family
1,241
Multi-Family
0
Businesses
325
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Listed by: F. Jeffrey Scott • Scott Team Realty
Mls Name: OBAR
Mls Provider:
Mls ID: #128745
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.