120 Prospect Street APT 21RidgefieldCT06877
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeSolid fundamentals define the investment case at 120 Prospect Street APT 21, Ridgefield, CT, 06877 in Ridgefield: $6,286/mo in rent, $408/mo in net income, 8.72% gross yield, 1.62 DSCR, all at $865,000. Ziffy Mortgage's DSCR mortgage qualifies using the property's income alone, clearing approval without U.S. residency or credit. Five-year equity from $238,984 in appreciation and $7,967/yr in principal paydown projects total cumulative return of $356,559.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.7% | 4.5% |
| Monthly Cash Flow | $408 | $300 |
City averages based on Ridgefield market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $6,286 |
| Total Monthly Debt Service | $5,533 |
| DSCR Ratio | 1.14x |
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.
Condo
Built in 1986
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06877, Ridgefield, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,449 (100%) |
| Owner Occupied HU | 7,528 (79.7%) |
| Renter Occupied HU | 1,463 (15.5%) |
| Vacant Housing Units | 458 ( 4.8%) |
| Median Home Value | $836,048 |
| Average Home Value | $925,612 |
Housing Distribution
Address Breakdown
Residential
9,479
Single Family
8,784
Multi-Family
695
Businesses
990
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
Condo
Built in 1986
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06877, Ridgefield, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,449 (100%) |
| Owner Occupied HU | 7,528 (79.7%) |
| Renter Occupied HU | 1,463 (15.5%) |
| Vacant Housing Units | 458 ( 4.8%) |
| Median Home Value | $836,048 |
| Average Home Value | $925,612 |
Housing Distribution
Address Breakdown
Residential
9,479
Single Family
8,784
Multi-Family
695
Businesses
990
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Linda D'Amato • William Raveis Real Estate
Mls Name: Smart MLS
Mls ID: #24125949