116 Hill Street #23MilfordCT06460
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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 Milford at 116 Hill Street #23, Milford, CT, 06460 generates $2,363/mo in rent and, after a $1,273/mo payment, leaves $348/mo in cash flow. Total monthly income is $2,363/mo, and annual cash flow is $4,176/yr on $86,190 invested. Return on cash invested sits at 24.75% in year one, and rental yield is 10.91% on a $260,000 entry. Equity gained on principal adds $1,678/yr, while 5% annual appreciation builds toward $71,833 over five years. Five-year ROI reaches 130.87% and total cumulative return in cash sums $112,793. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,363/mo property income rather than buyer’s personal income.
Condo
Built in 1983
N/A lot
$N/A/sqft
$248 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06460, Milford, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,754 (100%) |
| Owner Occupied HU | 11,878 (66.9%) |
| Renter Occupied HU | 4,817 (27.1%) |
| Vacant Housing Units | 1,059 ( 6.0%) |
| Median Home Value | $442,741 |
| Average Home Value | $513,461 |
Housing Distribution
Address Breakdown
Residential
17,615
Single Family
16,625
Multi-Family
990
Businesses
2,440
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Listed by: Chris Demorais • Coldwell Banker Realty
Mls Name: Smart MLS
Mls Provider:
Mls ID: #24092486
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.