Asset Based Lending recently funded a single family home purchase in Wilmington North Carolina with a DSCR rental loan. This first time borrower purchased this home at $429,000 and the property later appraised for $438,000. The property was delivered vacant but the expected monthly rent on this home is $3,300 making this a positive cash-flow property with 1.27 DSCR. This property is situated a short drive from some of North Carolina’s nicest beaches, as well as being within range of major cities like Raleigh and Charlotte, making its location ideal for potential tenants. Not only is there access to ample beaches, but Wilmington was also voted as “Best American Riverfront” by USA Today. In the Wilmington housing market 54% of the housing is rented compared to 46% owned. Of 54% of the rented housing, 22% are single family homes, indicating that this property will be a valuable addition to the market.