115 Groveland Avenue #7 & 8PutnamCT06260
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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 Putnam at 115 Groveland Avenue #7 & 8, Putnam, CT, 06260 generates $2,220/mo in rent, after a $3,573/mo payment. Total monthly income is $2,220/mo. Return on cash invested sits at 6.37% in year one, and rental yield is 3.65% on a $730,000 entry. Equity gained on principal adds $4,711/yr, while 5% annual appreciation builds toward $201,686 over five years. Five-year ROI reaches 31% and total cumulative return in cash sums $74,450. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,220/mo property income rather than buyer’s personal income.
Condo
Built in 2006
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06260, Putnam, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,383 (100%) |
| Owner Occupied HU | 2,523 (57.6%) |
| Renter Occupied HU | 1,600 (36.5%) |
| Vacant Housing Units | 260 ( 5.9%) |
| Median Home Value | $300,290 |
| Average Home Value | $409,670 |
Housing Distribution
Address Breakdown
Residential
4,198
Single Family
3,899
Multi-Family
299
Businesses
489
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Listed by: Jennie Kesselman • Berkshire Hathaway NE Prop.
Mls Name: Smart MLS
Mls ID: #24150988