20 Forest Drive, Salem, CT, 06420 | 7.41% Rental Yield

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

Home Type: Single Family

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20 Forest Drive, Salem, CT, 06420 | 7.41% Rental Yield | Ziffy

For Sale

Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Total monthly income runs $2,160/mo, and a $1,713/mo payment. Purchase price stands at $350,000, and rental yield measures 7.41% with $2,160/mo rent. Return on cash invested shows 17.65% in year one, and 5% annual appreciation builds toward $96,699 over five years. Five-year ROI reaches 91.54% and total cumulative return in cash records $106,214. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,160/mo property income covering a $1,713/mo payment rather than investor’s personal income.

Single Family

Built in 1958

1.09 Acres lot

$N/A/sqft

No HOA

More details about the property

Unique opportunity to own in a private beach community on Gardner Lake! Nice sized bedrooms (could be a 5 bedroom!) and living spaces just needs paint and a few other minor repairs to make this house shine! Private Beach at Gardner Lake with boat ramp, volleyball, baseball field, and kayak rack for community members with a low association fee of $175/year. Attic space off primary bedroom has cedar closet and could be turned into a master bath and walk in closet. Plenty of outdoor spaces (28'x12' deck w/wrought iron railings, large patio area) with lovely stone walls and a gardener's shed. Upper portion of land has plenty of cut wood for use in wood stove or for a fire pit. Updated kitchen, gorgeous hardwood floors, exposed beams in living area, wood stove, and flexible floor plan giving endless possibilities!

Neighborhood Data

Neighborhood data shown for ZIP Code: 06420, Salem, CT area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	1,765 (100%)
Owner Occupied HU	1,453 (82.3%)
Renter Occupied HU	202 (11.4%)
Vacant Housing Units	110 ( 6.2%)
Median Home Value	$414,809
Average Home Value	$443,741