700 Va Merritt LaneGrimeslandNC27837
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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 Grimesland at 700 Va Merritt Lane, Grimesland, NC, 27837 priced at $290,000 converts $2,003/mo rent into $236/mo cash flow after a $1,419/mo obligation. Total monthly income equals $2,003/mo, and annual cash flow totals $2,832/yr on $96,135 invested. Return on cash invested prints 22.85% in year one, and rental yield reads 8.29% against a $290,000 entry. Equity gained on principal adds $1,871/yr, while 5% annual appreciation compiles into $80,122 by year five. Five-year ROI reaches 118.5% and total cumulative return in cash sums $113,920. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,003/mo property income covering a $1,419/mo payment, not borrower’s personal income.
Single Family
Built in 1975
3.68 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 27837, Grimesland, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,607 (100%) |
| Owner Occupied HU | 1,902 (73.0%) |
| Renter Occupied HU | 424 (16.3%) |
| Vacant Housing Units | 281 (10.8%) |
| Median Home Value | $271,138 |
| Average Home Value | $270,935 |
Housing Distribution
Address Breakdown
Residential
2,440
Single Family
2,439
Multi-Family
1
Businesses
53
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Listed by: Kristie Harrison Homes Team • Epique Realty
Mls Name: Hive MLS
Mls Provider:
Mls ID: #100489188
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 14:29:33 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 14:29:33 PST Hive MLS