506 Wooster StreetWilmingtonNC28401
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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
Rental property for sale in Wilmington at 506 Wooster Street, Wilmington, NC, 28401 offers $1,264/mo rent that, after a $1,076/mo payment. Total monthly income is $1,264/mo. Return on cash invested measures 18.66% in year one, and rental yield stands at 6.9% at a $219,900 entry. Equity gained on principal adds $1,419/yr while 5% annual appreciation compounds into $60,754 by year five. Five-year ROI records 96.06% and total cumulative return in cash reaches $70,024. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,264/mo property income versus a $1,076/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1928
3,484 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28401, Wilmington, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,193 (100%) |
| Owner Occupied HU | 4,617 (32.5%) |
| Renter Occupied HU | 7,604 (53.6%) |
| Vacant Housing Units | 1,972 (13.9%) |
| Median Home Value | $339,503 |
| Average Home Value | $385,916 |
Housing Distribution
Address Breakdown
Residential
13,488
Single Family
10,693
Multi-Family
2,795
Businesses
2,213
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Listed by: The Domenico Grillo Real Estate Team • Keller Williams Innovate-Wilmington
Mls Name: Hive MLS
Mls ID: #100548651