11 Neck RoadOld LymeCT06371
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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 Old Lyme at 11 Neck Road, Old Lyme, CT, 06371 priced at $549,000 converts $2,400/mo rent into after a $2,687/mo obligation. Total monthly income equals $2,400/mo. Return on cash invested prints 11.22% in year one, and rental yield reads 5.25% against a $549,000 entry. Equity gained on principal adds $3,543/yr, while 5% annual appreciation compiles into $151,679 by year five. Five-year ROI reaches 57.03% and total cumulative return in cash sums $103,004. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,400/mo property income covering a $2,687/mo payment, not borrower’s personal income.
Single Family
Built in 1980
1 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06371, Old Lyme, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,220 (100%) |
| Owner Occupied HU | 3,777 (60.7%) |
| Renter Occupied HU | 593 ( 9.5%) |
| Vacant Housing Units | 1,850 (29.7%) |
| Median Home Value | $574,604 |
| Average Home Value | $675,310 |
Housing Distribution
Address Breakdown
Residential
4,922
Single Family
4,922
Multi-Family
0
Businesses
368
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Tony Walstra • William Pitt Sotheby's Int'l
Mls Name: Smart MLS
Mls ID: #24136741