705 Phillips AveWilmingtonDE19809
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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 Wilmington at 705 Phillips Ave, Wilmington, DE, 19809 priced at $549,900 converts $3,707/mo rent into $526/mo cash flow after a $2,691/mo obligation. Total monthly income equals $3,707/mo, and annual cash flow totals $6,308/yr on $180,917 invested. Return on cash invested prints 23.55% in year one, and rental yield reads 8.09% against a $549,900 entry. Equity gained on principal adds $3,548/yr, while 5% annual appreciation compiles into $151,927 by year five. Five-year ROI reaches 121.79% and total cumulative return in cash sums $220,334. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $3,707/mo property income covering a $2,691/mo payment, not borrower’s personal income.
Single Family
Built in 1936
5,663 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 19809, Wilmington, DE area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,838 (100%) |
| Owner Occupied HU | 4,754 (69.5%) |
| Renter Occupied HU | 1,772 (25.9%) |
| Vacant Housing Units | 312 ( 4.6%) |
| Median Home Value | $365,197 |
| Average Home Value | $381,712 |
Housing Distribution
Address Breakdown
Residential
6,625
Single Family
5,387
Multi-Family
1,238
Businesses
637
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Listed by: Lyman Chen • RE/MAX Edge
Mls Name: Bright MLS
Mls ID: #DENC2093832