1367 Hanover Avenue APT 703MeridenCT06451
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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
Investment property for sale in Meriden at 1367 Hanover Avenue APT 703, Meriden, CT, 06451 earns $662/mo cash flow from $2,326/mo rent with a $1,199/mo payment. Total monthly income totals $2,326/mo, and annual cash flow totals $7,938/yr on $81,218 capital. ROI tracks 29.68% on current figures, and rental yield reads 11.39% at a $245,000 purchase. Equity gained on principal adds $1,581/yr, and 5% annual appreciation supports $67,689 over five years. Five-year ROI reaches 156.07% and total cumulative return in cash sums $126,756. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $2,326/mo property income instead of your personal income.
Condo
Built in 1989
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06451, Meriden, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,791 (100%) |
| Owner Occupied HU | 5,691 (52.7%) |
| Renter Occupied HU | 4,353 (40.3%) |
| Vacant Housing Units | 747 ( 6.9%) |
| Median Home Value | $277,449 |
| Average Home Value | $337,992 |
Housing Distribution
Address Breakdown
Residential
9,464
Single Family
8,427
Multi-Family
1,037
Businesses
491
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Listed by: Lina Delis • William Raveis Real Estate
Mls Name: Smart MLS
Mls ID: #24142044