23 Covey Hill RdReadingMA01867
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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 Reading at 23 Covey Hill Rd, Reading, MA, 01867 generates $6,173/mo in rent, after a $6,607/mo payment. Total monthly income is $6,173/mo. Return on cash invested sits at 13.96% in year one, and rental yield is 5.49% on a $1,349,900 entry. Equity gained on principal adds $8,711/yr, while 5% annual appreciation builds toward $372,952 over five years. Five-year ROI reaches 71.01% and total cumulative return in cash sums $310,570. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $6,173/mo property income rather than buyer’s personal income.
Single Family
Built in 1969
0.45 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 01867, Reading, MA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,228 (100%) |
| Owner Occupied HU | 7,900 (77.2%) |
| Renter Occupied HU | 1,853 (18.1%) |
| Vacant Housing Units | 475 ( 4.6%) |
| Median Home Value | $826,500 |
| Average Home Value | $871,673 |
Housing Distribution
Address Breakdown
Residential
9,969
Single Family
8,063
Multi-Family
1,906
Businesses
726
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Listed by: Sarah Kichikova • Coldwell Banker Realty - Waltham
Mls Name: MLS PIN
Mls ID: #73430960