506 Fern Creek LaneCarolina BeachNC28428
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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 Carolina Beach at 506 Fern Creek Lane, Carolina Beach, NC, 28428 uses $220,430 cash to close to unlock $2,028/yr annual cash flow and $169/mo monthly cash flow. Total monthly income runs $4,252/mo, and a $3,279/mo payment keeps the spread at $169/mo. Purchase price stands at $670,000, and rental yield measures 7.62% with $4,252/mo rent. Return on cash invested shows 20.98% in year one, and 5% annual appreciation builds toward $185,109 over five years. Five-year ROI reaches 108.42% and total cumulative return in cash records $238,985. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $4,252/mo property income covering a $3,279/mo payment rather than investor’s personal income.
Single Family
Built in 1994
0.25 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28428, Carolina Beach, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,919 (100%) |
| Owner Occupied HU | 2,515 (42.5%) |
| Renter Occupied HU | 796 (13.4%) |
| Vacant Housing Units | 2,608 (44.1%) |
| Median Home Value | $554,706 |
| Average Home Value | $662,894 |
Housing Distribution
Address Breakdown
Residential
4,840
Single Family
3,327
Multi-Family
1,513
Businesses
447
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Listed by: Cory R Ellis • eXp Realty
Mls Name: Hive MLS
Mls ID: #100543917