654 Castine WayWilmingtonNC28412
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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 Wilmington at 654 Castine Way, Wilmington, NC, 28412 uses $125,970 cash to close to unlock $8,712/yr annual cash flow and $726/mo monthly cash flow. Total monthly income runs $3,042/mo, and a $1,860/mo payment keeps the spread at $726/mo. Purchase price stands at $380,000, and rental yield measures 9.61% with $3,042/mo rent. Return on cash invested shows 26.82% in year one, and 5% annual appreciation builds toward $104,987 over five years. Five-year ROI reaches 139.8% and total cumulative return in cash records $176,101. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $3,042/mo property income covering a $1,860/mo payment rather than investor’s personal income.
Single Family
Built in 2005
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28412, Wilmington, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 24,383 (100%) |
| Owner Occupied HU | 12,950 (53.1%) |
| Renter Occupied HU | 9,242 (37.9%) |
| Vacant Housing Units | 2,191 ( 9.0%) |
| Median Home Value | $396,597 |
| Average Home Value | $451,674 |
Housing Distribution
Address Breakdown
Residential
23,810
Single Family
18,795
Multi-Family
5,015
Businesses
956
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Listed by: Gail R Bailey • Intracoastal Realty Corp
Mls Name: Hive MLS
Mls ID: #100536780