602 Erdman RdWilmingtonDE19804
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
Investment property for sale in Wilmington at 602 Erdman Rd, Wilmington, DE, 19804 with 5% annual appreciation on a $260,000 basis while $2,765/mo rent supports operations. Total monthly income totals $2,765/mo and a $1,273/mo payment preserves $1,260/mo for cash returns. Annual cash flow comes to $15,122/yr on $86,190 deployed, and return on cash invested reaches 37.45% in year one. Equity gained on principal adds $1,678/yr, and five-year appreciation sums $71,833 alongside rental yield of 12.76%. Five-year ROI measures 196.46% and total cumulative return in cash totals $169,325.
Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $2,765/mo property income versus a $1,273/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.
Single Family
Built in 1954
6,534 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 19804, Wilmington, DE area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,826 (100%) |
| Owner Occupied HU | 5,844 (74.7%) |
| Renter Occupied HU | 1,627 (20.8%) |
| Vacant Housing Units | 355 ( 4.5%) |
| Median Home Value | $281,986 |
| Average Home Value | $345,482 |
Housing Distribution
Address Breakdown
Residential
7,601
Single Family
6,871
Multi-Family
730
Businesses
985
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Betty Griffith • Delaware Homes Inc
Mls Name: Bright MLS
Mls ID: #DENC2092090