410 Forest Park Rd #AWilmingtonNC28409
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeSolid fundamentals define the investment case at 410 Forest Park Rd #A, Wilmington, NC, 28409 in Wilmington: $1,878/mo in rent, $453/mo in net income, 9.63% gross yield, 1.79 DSCR, all at $233,900. Ziffy Mortgage's DSCR mortgage qualifies using the property's income alone, clearing approval without U.S. residency or credit. Five-year equity from $64,622 in appreciation and $2,154/yr in principal paydown projects total cumulative return of $117,739.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.6% | 5.8% |
| Monthly Cash Flow | $453 | $1,850 |
City averages based on Wilmington market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,878 |
| Total Monthly Debt Service | $1,332 |
| DSCR Ratio | 1.41x |
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.
Condo
Built in 1993
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28409, Wilmington, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,569 (100%) |
| Owner Occupied HU | 12,320 (79.1%) |
| Renter Occupied HU | 2,340 (15.0%) |
| Vacant Housing Units | 909 ( 5.8%) |
| Median Home Value | $457,440 |
| Average Home Value | $555,051 |
Housing Distribution
Address Breakdown
Residential
15,250
Single Family
14,274
Multi-Family
976
Businesses
125
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
Condo
Built in 1993
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28409, Wilmington, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,569 (100%) |
| Owner Occupied HU | 12,320 (79.1%) |
| Renter Occupied HU | 2,340 (15.0%) |
| Vacant Housing Units | 909 ( 5.8%) |
| Median Home Value | $457,440 |
| Average Home Value | $555,051 |
Housing Distribution
Address Breakdown
Residential
15,250
Single Family
14,274
Multi-Family
976
Businesses
125
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: N/A • N/A
Mls Name: BHHS broker feed
Mls ID: #100529442