2 Ocean Ave APT 3HGloucesterMA01930
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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 3H, Gloucester, MA, 01930 uses $125,937 cash to close to unlock $1,272/yr annual cash flow and $106/mo monthly cash flow. Total monthly income runs $2,885/mo, and a $1,859/mo payment keeps the spread at $106/mo. Purchase price stands at $379,900, and rental yield measures 9.11% with $2,885/mo rent. Return on cash invested shows 20.92% in year one, and 5% annual appreciation builds toward $104,959 over five years. Five-year ROI reaches 109.73% and total cumulative return in cash records $138,185. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,885/mo property income covering a $1,859/mo payment rather than investor’s personal income.
Condo
Built in 2003
N/A lot
$N/A/sqft
$385 monthly 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: Candor Realty Group • Four Points Real Estate, LLC
Mls Name: MLS PIN
Mls ID: #73362370
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