115 Paddock AvenueMeridenCT06450
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeReliable, bankable, and well-priced, 115 Paddock Avenue, Meriden, CT, 06450 in Meriden delivers $2,267/mo in gross rent and $330/mo in net monthly income at a $285,000 entry. The 9.54% yield and 1.77 DSCR make it a clean candidate for Ziffy Mortgage's DSCR loan; no W-2s or U.S. credit history required. With 5% annual appreciation projecting $78,740 over five years and $2,625/yr in equity from loan paydown, total projected return is $130,067.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.5% | 5.2% |
| Monthly Cash Flow | $330 | $850 |
City averages based on Meriden market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,267 |
| Total Monthly Debt Service | $1,823 |
| DSCR Ratio | 1.24x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1957
7,840 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06450, Meriden, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,548 (100%) |
| Owner Occupied HU | 8,633 (55.5%) |
| Renter Occupied HU | 5,916 (38.0%) |
| Vacant Housing Units | 999 ( 6.4%) |
| Median Home Value | $273,744 |
| Average Home Value | $352,363 |
Housing Distribution
Address Breakdown
Residential
14,312
Single Family
12,493
Multi-Family
1,819
Businesses
1,173
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
Single Family
Built in 1957
7,840 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06450, Meriden, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,548 (100%) |
| Owner Occupied HU | 8,633 (55.5%) |
| Renter Occupied HU | 5,916 (38.0%) |
| Vacant Housing Units | 999 ( 6.4%) |
| Median Home Value | $273,744 |
| Average Home Value | $352,363 |
Housing Distribution
Address Breakdown
Residential
14,312
Single Family
12,493
Multi-Family
1,819
Businesses
1,173
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Carrie Vass Brainerd • Carbutti & Co., Realtors
Mls Name: Smart MLS
Mls Provider:
Mls ID: #24100792
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.