324 New Castle LnSpring 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 324 New Castle Ln, Spring Lake, NC, 28390 with 5% annual appreciation on a $296,000 basis while $2,256/mo rent supports operations. Total monthly income totals $2,256/mo and a $1,449/mo payment preserves $452/mo for cash returns. Annual cash flow comes to $5,422/yr on $98,124 deployed, and return on cash invested reaches 25.43% in year one. Equity gained on principal adds $1,910/yr, and five-year appreciation sums $81,779 alongside rental yield of 9.15%. Five-year ROI measures 132.35% and total cumulative return in cash totals $129,868.
Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $2,256/mo property income versus a $1,449/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.
Single Family
Built in 2014
10,454 sqft lot
$N/A/sqft
No 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: JAMI NANCE • EXP REALTY LLC
Mls Name: LPRMLS
Mls ID: #746922