16 North Main StreetEssexCT06426
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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 Essex at 16 North Main Street, Essex, CT, 06426 offers $3,163/mo rent that, after a $3,274/mo payment. Total monthly income is $3,163/mo. Return on cash invested measures 12.53% in year one, and rental yield stands at 5.67% at a $669,000 entry. Equity gained on principal adds $4,317/yr while 5% annual appreciation compounds into $184,832 by year five. Five-year ROI records 64.01% and total cumulative return in cash reaches $140,883. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $3,163/mo property income versus a $3,274/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1850
3,049 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06426, Essex, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,762 (100%) |
| Owner Occupied HU | 1,197 (67.9%) |
| Renter Occupied HU | 366 (20.8%) |
| Vacant Housing Units | 199 (11.3%) |
| Median Home Value | $745,253 |
| Average Home Value | $939,871 |
Housing Distribution
Address Breakdown
Residential
1,717
Single Family
1,490
Multi-Family
227
Businesses
378
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Listed by: Alice R. Trautman • William Raveis Real Estate
Mls Name: Smart MLS
Mls ID: #24147724