16 Richardson St #CWakefieldMA01880
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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 Wakefield at 16 Richardson St #C, Wakefield, MA, 01880 priced at $282,300 converts $2,375/mo rent into $595/mo cash flow after a $1,382/mo obligation. Total monthly income equals $2,375/mo, and annual cash flow totals $7,145/yr on $93,582 invested. Return on cash invested prints 27.54% in year one, and rental yield reads 10.1% against a $282,300 entry. Equity gained on principal adds $1,822/yr, while 5% annual appreciation compiles into $77,994 by year five. Five-year ROI reaches 143.95% and total cumulative return in cash sums $134,711. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,375/mo property income covering a $1,382/mo payment, not borrower’s personal income.
Condo
Built in 1965
1 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 01880, Wakefield, MA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,722 (100%) |
| Owner Occupied HU | 7,861 (67.1%) |
| Renter Occupied HU | 3,361 (28.7%) |
| Vacant Housing Units | 500 ( 4.3%) |
| Median Home Value | $739,351 |
| Average Home Value | $784,333 |
Housing Distribution
Address Breakdown
Residential
11,280
Single Family
8,920
Multi-Family
2,360
Businesses
1,330
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Listed by: N/A • N/A
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