605 Edgewater Ave UNIT 3Ocean CityMD21842
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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 Ocean City at 605 Edgewater Ave UNIT 3, Ocean City, MD, 21842 offers a 5.93% rental yield on a $415,000 purchase with $2,052/mo rent. 64% in year one. Equity gained on principal adds $2,678/yr while 5% annual appreciation supports $114,657 over five years. Portfolio math shows five-year ROI at 54.88% and total cumulative return in cash at $75,501. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,052/mo property income against a $2,031/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1965
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 21842, Ocean City, MD area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 32,930 (100%) |
| Owner Occupied HU | 4,053 (12.3%) |
| Renter Occupied HU | 1,593 ( 4.8%) |
| Vacant Housing Units | 27,284 (82.9%) |
| Median Home Value | $504,097 |
| Average Home Value | $573,881 |
Housing Distribution
Address Breakdown
Residential
7,594
Single Family
6,265
Multi-Family
1,329
Businesses
1,500
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Listed by: Grant Fritschle • Keller Williams Realty Delmarva
Mls Name: Bright MLS
Mls Provider:
Mls ID: #MDWO2029518
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