142 Summit Street #142NorwichCT06360
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowInvestors targeting immediate dollar income will find 142 Summit Street #142, Norwich, CT, 06360 in Norwich hard to pass up. The 13.2% gross yield on a $230,000 purchase results in $2,531/mo in rent and $758/mo in net cash, well above the spread required for Ziffy Mortgage's DSCR qualification (2.45). Annual cash flow of $9,097, five-year appreciation of $63,545, and $2,118/yr in equity build-up combine for a projected total cumulative return of $137,530.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 13.2% | 4.2% |
| Monthly Cash Flow | $758 | $285 |
City averages based on Norwich market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,531 |
| Total Monthly Debt Service | $1,681 |
| DSCR Ratio | 1.51x |
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 2006
N/A lot
$N/A/sqft
$210 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06360, Norwich, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,508 (100%) |
| Owner Occupied HU | 7,848 (44.8%) |
| Renter Occupied HU | 7,879 (45.0%) |
| Vacant Housing Units | 1,781 (10.2%) |
| Median Home Value | $267,212 |
| Average Home Value | $314,342 |
Housing Distribution
Address Breakdown
Residential
16,023
Single Family
14,090
Multi-Family
1,933
Businesses
1,102
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 2006
N/A lot
$N/A/sqft
$210 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06360, Norwich, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,508 (100%) |
| Owner Occupied HU | 7,848 (44.8%) |
| Renter Occupied HU | 7,879 (45.0%) |
| Vacant Housing Units | 1,781 (10.2%) |
| Median Home Value | $267,212 |
| Average Home Value | $314,342 |
Housing Distribution
Address Breakdown
Residential
16,023
Single Family
14,090
Multi-Family
1,933
Businesses
1,102
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Tommy Connors • Redfin Corporation
Mls Name: Smart MLS
Mls Provider:
Mls ID: #24100666
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.