462 Racine Drive UNIT A203WilmingtonNC28403
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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 Wilmington at 462 Racine Drive UNIT A203, Wilmington, NC, 28403 uses $42,333 cash to close to unlock $3,899/yr annual cash flow and $325/mo monthly cash flow. Total monthly income runs $1,460/mo, and a $625/mo payment keeps the spread at $325/mo. Purchase price stands at $127,700, and rental yield measures 13.72% with $1,460/mo rent. Return on cash invested shows 29.12% in year one, and 5% annual appreciation builds toward $35,281 over five years. Five-year ROI reaches 155.77% and total cumulative return in cash records $65,941. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,460/mo property income covering a $625/mo payment rather than investor’s personal income.
Condo
Built in 1984
N/A lot
$N/A/sqft
$4,282 annually HOA
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Listed by: Amy A Lu • Coastal Properties
Mls Name: Hive MLS
Mls Provider:
Mls ID: #100446776
Disclaimer: The data relating to real estate on this web site comes in part from the Internet Data Exchange program of Hive MLS, and is updated as of 2024-10-17 08:18:46 PDT. All information is deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor Zillow, Inc. shall be responsible for any typographical errors, misinformation, or misprints, and shall be held totally harmless from any damages arising from reliance upon these data. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. 2024-10-17 08:18:46 PDT Hive MLS