241 Main St APT C3ReadingMA01867
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeTight but positive: 241 Main St APT C3, Reading, MA, 01867 in Reading at $359,000 earns $2,797/mo in rent and nets $196/mo after the $1,614/mo payment, a 9.35% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $99,185 over five years. Ziffy Mortgage underwrites this on a 1.73 DSCR without U.S. credit history. With $3,306/yr in principal paydown, total projected return reaches $170,734.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.4% | 5.8% |
| Monthly Cash Flow | $196 | $420 |
City averages based on Reading market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,797 |
| Total Monthly Debt Service | $2,120 |
| DSCR Ratio | 1.32x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 1969
N/A 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Condo
Built in 1969
N/A 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Francesca Driscoll • Redfin Corp.
Mls Name: MLS PIN
Mls ID: #73476702