609 N 10th 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 609 N 10th Street, Wilmington, NC, 28401 generates $1,943/mo in rent and, after a $1,321/mo payment, leaves $298/mo in cash flow. Total monthly income is $1,943/mo, and annual cash flow is $3,577/yr on $89,472 invested. Return on cash invested sits at 23.91% in year one, and rental yield is 8.64% on a $269,900 entry. Equity gained on principal adds $1,742/yr, while 5% annual appreciation builds toward $74,568 over five years. Five-year ROI reaches 124.2% and total cumulative return in cash sums $111,126. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,943/mo property income rather than buyer’s personal income.
Single Family
Built in 1920
5,227 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: English Seward Real Estate Group • Berkshire Hathaway HomeServices Carolina Premier Properties
Mls Name: Hive MLS
Mls ID: #100544769