815 Caroline Ct #ACorollaNC27927
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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 Corolla at 815 Caroline Ct #A, Corolla, NC, 27927 priced at $280,000 converts $1,900/mo rent into $194/mo cash flow after a $1,370/mo obligation. Total monthly income equals $1,900/mo, and annual cash flow totals $2,328/yr on $92,820 invested. Return on cash invested prints 22.42% in year one, and rental yield reads 8.14% against a $280,000 entry. Equity gained on principal adds $1,807/yr, while 5% annual appreciation compiles into $77,359 by year five. Five-year ROI reaches 116.14% and total cumulative return in cash sums $107,805. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,900/mo property income covering a $1,370/mo payment, not borrower’s personal income.
Condo
Built in 2001
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: Michael Taboada • Coldwell Banker Seaside Realty - KDH
Mls Name: OBAR
Mls Provider:
Mls ID: #127443
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