609 Spencer Farlow Drive UNIT 22Carolina 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
Rental property for sale in Carolina Beach at 609 Spencer Farlow Drive UNIT 22, Carolina Beach, NC, 28428 generates $2,496/mo in rent and, after a $1,503/mo payment, leaves $5/mo in cash flow. Total monthly income is $2,496/mo, and annual cash flow is $55/yr on $101,771 invested. Return on cash invested sits at 19.96% in year one, and rental yield is 9.76% on a $307,000 entry. Equity gained on principal adds $1,981/yr, while 5% annual appreciation builds toward $84,818 over five years. Five-year ROI reaches 105.66% and total cumulative return in cash sums $107,534. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,496/mo property income rather than buyer’s personal income.
Condo
Built in 2005
N/A lot
$N/A/sqft
$7,440 annually 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: Pamela Saxman • Real Broker LLC
Mls Name: Hive MLS
Mls Provider:
Mls ID: #100481626
Disclaimer: The data relating to real estate on this web site comes in part from the Internet Data Exchange program of Hive MLS, and is updated as of 2025-02-21 15:29:39 PST. All information is deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor Zillow, Inc. shall be responsible for any typographical errors, misinformation, or misprints, and shall be held totally harmless from any damages arising from reliance upon these data. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. 2025-02-21 15:29:39 PST Hive MLS