759 Ridge Point Dr LOT 42CorollaNC27927
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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 759 Ridge Point Dr LOT 42, Corolla, NC, 27927 offers a 7.44% rental yield on a $685,000 purchase with $4,247/mo rent. Total monthly income registers $4,247/mo, and a $3,353/mo payment leaves $72/mo available for distribution. Annual cash flow reaches $864/yr on $225,365 to close, and return on cash invested stands at 20.44% in year one. Equity gained on principal adds $4,420/yr while 5% annual appreciation supports $189,253 over five years. Portfolio math shows five-year ROI at 105.55% and total cumulative return in cash at $237,862. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $4,247/mo property income against a $3,353/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 2004
N/A 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: Jenny M Hawk • Outer Banks Realty Group
Mls Name: OBAR
Mls ID: #129319