23 Merriman LaneProspectCT06712
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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 Prospect at 23 Merriman Lane, Prospect, CT, 06712 uses $132,269 cash to close to unlock $11,123/yr annual cash flow and $927/mo monthly cash flow. Total monthly income runs $3,638/mo, and a $1,953/mo payment keeps the spread at $927/mo. Purchase price stands at $399,000, and rental yield measures 10.94% with $3,638/mo rent. Return on cash invested shows 28.32% in year one, and 5% annual appreciation builds toward $110,236 over five years. Five-year ROI reaches 148.73% and total cumulative return in cash records $196,718. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $3,638/mo property income covering a $1,953/mo payment rather than investor’s personal income.
Multi Family
Built in 1958
1.02 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06712, Prospect, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,813 (100%) |
| Owner Occupied HU | 3,462 (90.8%) |
| Renter Occupied HU | 242 ( 6.3%) |
| Vacant Housing Units | 109 ( 2.9%) |
| Median Home Value | $422,004 |
| Average Home Value | $449,272 |
Housing Distribution
Address Breakdown
Residential
3,663
Single Family
3,663
Multi-Family
0
Businesses
314
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Listed by: Sean Russo • The Borges Group LLC
Mls Name: Smart MLS
Mls ID: #24110429