424 Lark Ln #E303Ocean CityMD21842
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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 City at 424 Lark Ln #E303, Ocean City, MD, 21842 uses $89,140 cash to close to unlock $6,561/yr annual cash flow and $547/mo monthly cash flow. Total monthly income runs $2,219/mo, and a $1,316/mo payment keeps the spread at $547/mo. Purchase price stands at $268,900, and rental yield measures 9.9% with $2,219/mo rent. Return on cash invested shows 27.27% in year one, and 5% annual appreciation builds toward $74,292 over five years. Five-year ROI reaches 142.35% and total cumulative return in cash records $126,892. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,219/mo property income covering a $1,316/mo payment rather than investor’s personal income.
Condo
Built in 1974
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 21842, Ocean City, MD area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 32,930 (100%) |
| Owner Occupied HU | 4,053 (12.3%) |
| Renter Occupied HU | 1,593 ( 4.8%) |
| Vacant Housing Units | 27,284 (82.9%) |
| Median Home Value | $504,097 |
| Average Home Value | $573,881 |
Housing Distribution
Address Breakdown
Residential
7,594
Single Family
6,265
Multi-Family
1,329
Businesses
1,500
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Listed by: Nancy Reither • Coldwell Banker Realty
Mls Name: Bright MLS
Mls ID: #MDWO2020908