504 Lake AveSpring LakeNC28390
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
Investment Highlights
Rental property for sale in Spring Lake at 504 Lake Ave, Spring Lake, NC, 28390 priced at $107,900 converts $1,608/mo rent into $915/mo cash flow after a $528/mo obligation. Total monthly income equals $1,608/mo, and annual cash flow totals $10,979/yr on $35,769 invested. Return on cash invested prints 50.6% in year one, and rental yield reads 17.88% against a $107,900 entry. Equity gained on principal adds $696/yr, while 5% annual appreciation compiles into $29,811 by year five. Five-year ROI reaches 267.75% and total cumulative return in cash sums $95,772. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,608/mo property income covering a $528/mo payment, not borrower’s personal income.
Multi Family
Built in 1942
9,583 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Dimitrios Christie • eXp Realty, LLC - C
Mls Name: Doorify MLS
Mls Provider:
Mls ID: #10042158
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