243 Grove StreetMeridenCT06451
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
Investment Highlights
Investment property for sale in Meriden at 243 Grove Street, Meriden, CT, 06451 uses $79,229 cash to close to unlock $3,551/yr annual cash flow and $296/mo monthly cash flow. Total monthly income runs $1,920/mo, and a $1,170/mo payment keeps the spread at $296/mo. Purchase price stands at $239,000, and rental yield measures 9.64% with $1,920/mo rent. Return on cash invested shows 24.39% in year one, and 5% annual appreciation builds toward $66,031 over five years. Five-year ROI reaches 127.67% and total cumulative return in cash records $101,148. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,920/mo property income covering a $1,170/mo payment rather than investor’s personal income.
Single Family
Built in 1926
9,583 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06451, Meriden, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,791 (100%) |
| Owner Occupied HU | 5,691 (52.7%) |
| Renter Occupied HU | 4,353 (40.3%) |
| Vacant Housing Units | 747 ( 6.9%) |
| Median Home Value | $277,449 |
| Average Home Value | $337,992 |
Housing Distribution
Address Breakdown
Residential
9,464
Single Family
8,427
Multi-Family
1,037
Businesses
491
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Adam Devine • Dorrance Realty
Mls Name: Smart MLS
Mls ID: #24149476