30611 Cedar Neck Rd UNIT 2306Ocean ViewDE19970
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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 Ocean View at 30611 Cedar Neck Rd UNIT 2306, Ocean View, DE, 19970 offers a 8.92% rental yield on a $298,000 purchase with $2,215/mo rent. Total monthly income registers $2,215/mo, and a $1,459/mo payment leaves $490/mo available for distribution. Annual cash flow reaches $5,883/yr on $98,787 to close, and return on cash invested stands at 25.86% in year one. Equity gained on principal adds $1,923/yr while 5% annual appreciation supports $82,332 over five years. Portfolio math shows five-year ROI at 134.3% and total cumulative return in cash at $132,668. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,215/mo property income against a $1,459/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 2005
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 19970, Ocean View, DE area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,474 (100%) |
| Owner Occupied HU | 4,415 (46.6%) |
| Renter Occupied HU | 454 ( 4.8%) |
| Vacant Housing Units | 4,605 (48.6%) |
| Median Home Value | $543,498 |
| Average Home Value | $597,639 |
Housing Distribution
Address Breakdown
Residential
6,980
Single Family
6,979
Multi-Family
1
Businesses
320
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Listed by: BILL CULLIN • Long & Foster Real Estate, Inc.
Mls Name: Bright MLS
Mls ID: #DESU2102210