2 Ocean Ave APT 3CGloucesterMA01930
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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 Gloucester at 2 Ocean Ave APT 3C, Gloucester, MA, 01930 priced at $339,000 converts $2,369/mo rent into $233/mo cash flow after a $1,659/mo obligation. Total monthly income equals $2,369/mo, and annual cash flow totals $2,791/yr on $112,379 invested. Return on cash invested prints 22.39% in year one, and rental yield reads 8.39% against a $339,000 entry. Equity gained on principal adds $2,188/yr, while 5% annual appreciation compiles into $93,659 by year five. Five-year ROI reaches 116.32% and total cumulative return in cash sums $130,720. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,369/mo property income covering a $1,659/mo payment, not borrower’s personal income.
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: Derek Greene • The Greene Realty Group
Mls Name: MLS PIN
Mls ID: #73463266