704 N 8th StreetWilmingtonNC28401
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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 704 N 8th Street, Wilmington, NC, 28401 uses $115,694 cash to close to unlock $4,334/yr annual cash flow and $361/mo monthly cash flow. Total monthly income runs $2,488/mo, and a $1,708/mo payment keeps the spread at $361/mo. Purchase price stands at $349,000, and rental yield measures 8.55% with $2,488/mo rent. Return on cash invested shows 23.66% in year one, and 5% annual appreciation builds toward $96,422 over five years. Five-year ROI reaches 122.83% and total cumulative return in cash records $142,104. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,488/mo property income covering a $1,708/mo payment rather than investor’s personal income.
Single Family
Built in 2008
2,613 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 28401, Wilmington, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,193 (100%) |
| Owner Occupied HU | 4,617 (32.5%) |
| Renter Occupied HU | 7,604 (53.6%) |
| Vacant Housing Units | 1,972 (13.9%) |
| Median Home Value | $339,503 |
| Average Home Value | $385,916 |
Housing Distribution
Address Breakdown
Residential
13,488
Single Family
10,693
Multi-Family
2,795
Businesses
2,213
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Listed by: Carlos L Braxton • Braxton Realty, LLC
Mls Name: Hive MLS
Mls Provider:
Mls ID: #100448675
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 2024-10-17 08:18:46 PDT. 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. 2024-10-17 08:18:46 PDT Hive MLS