23 Mead StreetNew CanaanCT06840
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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 New Canaan at 23 Mead Street, New Canaan, CT, 06840 priced at $1,525,000 pairs $6,488/mo rent with after a $7,464/mo payment. Total monthly income equals $6,488/mo. Return on cash invested is 10.96% in year one, and rental yield stands at 5.11% on a $1,525,000 basis. Equity gained on principal adds $9,841/yr, and 5% annual appreciation accumulates to $421,329 by year five. Five-year ROI measures 55.58% and total cumulative return in cash reaches $274,620. For financing, Ziffy Mortgage’s DSCR program evaluates $6,488/mo property income against a $7,464/mo payment instead of your W2s, 1099s, or Tax returns.
Condo
Built in 2001
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06840, New Canaan, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,520 (100%) |
| Owner Occupied HU | 5,560 (73.9%) |
| Renter Occupied HU | 1,434 (19.1%) |
| Vacant Housing Units | 526 ( 7.0%) |
| Median Home Value | $1,591,336 |
| Average Home Value | $1,568,055 |
Housing Distribution
Address Breakdown
Residential
7,433
Single Family
7,146
Multi-Family
287
Businesses
885
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Listed by: Christine D. Saxe • Compass Connecticut, LLC
Mls Name: Smart MLS
Mls ID: #24125135