64 California LnSpring LakeNC28390
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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 Spring Lake at 64 California Ln, Spring Lake, NC, 28390 offers $2,252/mo rent that, after a $1,399/mo payment, leaves $510/mo cash flow. Total monthly income is $2,252/mo, and annual cash flow is $6,119/yr on $94,776 cash. Return on cash invested measures 26.37% in year one, and rental yield stands at 9.45% at a $285,900 entry. Equity gained on principal adds $1,845/yr while 5% annual appreciation compounds into $78,989 by year five. Five-year ROI records 137.33% and total cumulative return in cash reaches $130,153. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,252/mo property income versus a $1,399/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1990
0.52 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28390, Spring Lake, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,066 (100%) |
| Owner Occupied HU | 4,891 (44.2%) |
| Renter Occupied HU | 4,958 (44.8%) |
| Vacant Housing Units | 1,217 (11.0%) |
| Median Home Value | $271,254 |
| Average Home Value | $262,656 |
Housing Distribution
Address Breakdown
Residential
10,417
Single Family
8,619
Multi-Family
1,798
Businesses
619
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Listed by: GRAY HERNANDEZ • ERA STROTHER REAL ESTATE
Mls Name: LPRMLS
Mls ID: #750432