739 Ridge Point Dr LOT 32CorollaNC27927
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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 Corolla at 739 Ridge Point Dr LOT 32, Corolla, NC, 27927 uses $197,071 cash to close to unlock $14,522/yr annual cash flow and $1,210/mo monthly cash flow. Total monthly income runs $4,861/mo, and a $2,932/mo payment keeps the spread at $1,210/mo. Purchase price stands at $599,000, and rental yield measures 9.74% with $4,861/mo rent. Return on cash invested shows 27.43% in year one, and 5% annual appreciation builds toward $165,493 over five years. Five-year ROI reaches 143.02% and total cumulative return in cash records $281,854. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $4,861/mo property income covering a $2,932/mo payment rather than investor’s personal income.
Single Family
Built in 2003
3,049 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 27927, Corolla, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,285 (100%) |
| Owner Occupied HU | 683 (12.9%) |
| Renter Occupied HU | 91 ( 1.7%) |
| Vacant Housing Units | 4,511 (85.4%) |
| Median Home Value | $612,374 |
| Average Home Value | $647,445 |
Housing Distribution
Address Breakdown
Residential
800
Single Family
799
Multi-Family
1
Businesses
148
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Listed by: The Spencer Team • Keller Williams - Outer Banks
Mls Name: OBAR
Mls ID: #131156