32616 Millingport Rd #7144New LondonNC28127
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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 New London at 32616 Millingport Rd #7144, New London, NC, 28127 generates $1,320/mo in rent, after a $1,957/mo payment. Total monthly income is $1,320/mo. Return on cash invested sits at 9.8% in year one, and rental yield is 3.96% on a $399,900 entry. Equity gained on principal adds $2,580/yr, while 5% annual appreciation builds toward $110,485 over five years. Five-year ROI reaches 48.53% and total cumulative return in cash sums $64,340. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,320/mo property income rather than buyer’s personal income.
Single Family
Built in 2025
0.70 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28127, New London, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,691 (100%) |
| Owner Occupied HU | 2,437 (52.0%) |
| Renter Occupied HU | 506 (10.8%) |
| Vacant Housing Units | 1,748 (37.3%) |
| Median Home Value | $317,462 |
| Average Home Value | $393,053 |
Housing Distribution
Address Breakdown
Residential
3,344
Single Family
3,344
Multi-Family
0
Businesses
132
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Listed by: Kaylee Wilson • TLS Realty LLC
Mls Name: Canopy MLS as distributed by MLS GRID
Mls ID: #4260656