873 Lookout Way LOT 33CorollaNC27927
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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 873 Lookout Way LOT 33, Corolla, NC, 27927 offers a 8.02% rental yield on a $889,990 purchase with $5,948/mo rent. Total monthly income registers $5,948/mo, and a $4,356/mo payment leaves $524/mo available for distribution. Annual cash flow reaches $6,288/yr on $292,807 to close, and return on cash invested stands at 22.21% in year one. Equity gained on principal adds $5,743/yr while 5% annual appreciation supports $245,888 over five years. Portfolio math shows five-year ROI at 115.02% and total cumulative return in cash at $336,793. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $5,948/mo property income against a $4,356/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 2025
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: Kelly Vornadore • Keller Williams - Outer Banks
Mls Name: OBAR
Mls Provider:
Mls ID: #128101
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.