232 Melrose St #2NewtonMA02466
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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 Newton at 232 Melrose St #2, Newton, MA, 02466 generates $5,856/mo in rent, after a $6,240/mo payment. Total monthly income is $5,856/mo. Return on cash invested sits at 14.04% in year one, and rental yield is 5.51% on a $1,275,000 entry. Equity gained on principal adds $8,227/yr, while 5% annual appreciation builds toward $352,259 over five years. Five-year ROI reaches 71.42% and total cumulative return in cash sums $295,034. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $5,856/mo property income rather than buyer’s personal income.
Condo
Built in 1870
5,994 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02466, Auburndale, MA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,235 (100%) |
| Owner Occupied HU | 1,893 (58.5%) |
| Renter Occupied HU | 1,218 (37.7%) |
| Vacant Housing Units | 124 ( 3.8%) |
| Median Home Value | $1,334,974 |
| Average Home Value | $1,394,876 |
Housing Distribution
Address Breakdown
Residential
3,102
Single Family
1,980
Multi-Family
1,122
Businesses
304
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Listed by: Kara Apostolica • Gibson Sotheby's International Realty
Mls Name: MLS PIN
Mls ID: #73466180