7 124th St UNIT 202Ocean 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 7 124th St UNIT 202, Ocean City, MD, 21842 offers a 5.29% rental yield on a $445,000 purchase with $1,960/mo rent. 34% in year one. Equity gained on principal adds $2,872/yr while 5% annual appreciation supports $122,945 over five years. Portfolio math shows five-year ROI at 67.67% and total cumulative return in cash at $99,824. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,960/mo property income against a $2,178/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1973
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: Lynne Holt • Patterson-Schwartz-Middletown
Mls Name: Bright MLS
Mls ID: #MDWO2035602