831 Fanning 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 831 Fanning Street, Wilmington, NC, 28401 offers a 7.85% rental yield on a $409,000 purchase with $2,674/mo rent. Total monthly income registers $2,674/mo, and a $2,002/mo payment leaves $181/mo available for distribution. Annual cash flow reaches $2,174/yr on $135,584 to close, and return on cash invested stands at 21.51% in year one. Equity gained on principal adds $2,639/yr while 5% annual appreciation supports $112,999 over five years. Portfolio math shows five-year ROI at 111.34% and total cumulative return in cash at $150,957. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,674/mo property income against a $2,002/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 2020
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: David Cummings Real Estate Team • Intracoastal Realty Corp
Mls Name: Hive MLS
Mls ID: #100527016