120 Songbird Lane #120FarmingtonCT06032
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 Farmington at 120 Songbird Lane #120, Farmington, CT, 06032 generates $2,139/mo in rent, after a $1,468/mo payment. Total monthly income is $2,139/mo. Return on cash invested sits at 15.75% in year one, and rental yield is 8.56% on a $299,900 entry. Equity gained on principal adds $1,935/yr, while 5% annual appreciation builds toward $82,857 over five years. Five-year ROI reaches 83.31% and total cumulative return in cash sums $82,828. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,139/mo property income rather than buyer’s personal income.
Condo
Built in 1983
N/A lot
$N/A/sqft
$446 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06032, Farmington, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,666 (100%) |
| Owner Occupied HU | 5,730 (66.1%) |
| Renter Occupied HU | 2,487 (28.7%) |
| Vacant Housing Units | 449 ( 5.2%) |
| Median Home Value | $506,652 |
| Average Home Value | $568,271 |
Housing Distribution
Address Breakdown
Residential
8,435
Single Family
7,027
Multi-Family
1,408
Businesses
1,040
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Shelly A. Meister Zamudio • Realty 3 CT
Mls Name: Smart MLS
Mls Provider:
Mls ID: #24111483
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.