24 Cobblestone Ln UNIT 405GloucesterMA01930
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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 Gloucester at 24 Cobblestone Ln UNIT 405, Gloucester, MA, 01930 offers a 9.44% rental yield on a $396,700 purchase with $3,120/mo rent. Total monthly income registers $3,120/mo, and a $1,942/mo payment leaves $223/mo available for distribution. Annual cash flow reaches $2,680/yr on $131,506 to close, and return on cash invested stands at 21.95% in year one. Equity gained on principal adds $2,560/yr while 5% annual appreciation supports $109,601 over five years. Portfolio math shows five-year ROI at 115.24% and total cumulative return in cash at $151,548. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $3,120/mo property income against a $1,942/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1913
N/A lot
$N/A/sqft
$396 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 01930, Gloucester, MA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,315 (100%) |
| Owner Occupied HU | 8,361 (54.6%) |
| Renter Occupied HU | 5,133 (33.5%) |
| Vacant Housing Units | 1,821 (11.9%) |
| Median Home Value | $750,301 |
| Average Home Value | $875,713 |
Housing Distribution
Address Breakdown
Residential
14,283
Single Family
13,392
Multi-Family
891
Businesses
1,243
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