2 Ocean Ave APT 3BGloucesterMA01930
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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 Gloucester at 2 Ocean Ave APT 3B, Gloucester, MA, 01930 listed at $339,000 pairs $2,610/mo rent with a $1,659/mo payment to leave $474/mo cash flow. Total monthly income runs $2,610/mo, and annual cash flow reaches $5,683/yr on $112,379 cash to close. Return on cash invested measures 24.97% in year one, and rental yield registers 9.24% at a $339,000 basis. Equity gained on principal adds $2,188/yr, and annual property appreciation at 5% supports $93,659 by year five. Five-year ROI tracks 130.12% and total cumulative return in cash totals $146,224. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $2,610/mo property income relative to a $1,659/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Condo
Built in 2003
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 01930, Gloucester, MA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,315 (100%) |
| Owner Occupied HU | 8,361 (54.6%) |
| Renter Occupied HU | 5,133 (33.5%) |
| Vacant Housing Units | 1,821 (11.9%) |
| Median Home Value | $750,301 |
| Average Home Value | $875,713 |
Housing Distribution
Address Breakdown
Residential
14,283
Single Family
13,392
Multi-Family
891
Businesses
1,243
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Listed by: Devin Caglayan • All County Select Property Management
Mls Name: MLS PIN
Mls ID: #73463259