19 Summer StreetNew LondonCT06320
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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 New London at 19 Summer Street, New London, CT, 06320 priced at $525,000 converts $1,685/mo rent into after a $2,570/mo obligation. Total monthly income equals $1,685/mo. Return on cash invested prints 6.98% in year one, and rental yield reads 3.85% against a $525,000 entry. Equity gained on principal adds $3,388/yr, while 5% annual appreciation compiles into $145,048 by year five. Five-year ROI reaches 34.3% and total cumulative return in cash sums $59,241. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,685/mo property income covering a $2,570/mo payment, not borrower’s personal income.
Multi Family
Built in 1900
4,791 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06320, New London, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,582 (100%) |
| Owner Occupied HU | 4,019 (31.9%) |
| Renter Occupied HU | 7,156 (56.9%) |
| Vacant Housing Units | 1,407 (11.2%) |
| Median Home Value | $291,296 |
| Average Home Value | $336,354 |
Housing Distribution
Address Breakdown
Residential
11,305
Single Family
9,237
Multi-Family
2,068
Businesses
1,322
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Listed by: X Team At Real Broker CT • Real Broker CT, LLC
Mls Name: Smart MLS
Mls Provider:
Mls ID: #24106926
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.