245 Cherry Avenue #B16WatertownCT06795
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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 Watertown at 245 Cherry Avenue #B16, Watertown, CT, 06795 uses $69,615 cash to close to unlock $8,160/yr annual cash flow and $680/mo monthly cash flow. Total monthly income runs $2,732/mo, and a $1,028/mo payment keeps the spread at $680/mo. Purchase price stands at $210,000, and rental yield measures 15.61% with $2,732/mo rent. Return on cash invested shows 31.63% in year one, and 5% annual appreciation builds toward $58,019 over five years. Five-year ROI reaches 170.4% and total cumulative return in cash records $118,624. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,732/mo property income covering a $1,028/mo payment rather than investor’s personal income.
Condo
Built in 1968
N/A lot
$N/A/sqft
$625 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06795, Watertown, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,643 (100%) |
| Owner Occupied HU | 4,618 (81.8%) |
| Renter Occupied HU | 803 (14.2%) |
| Vacant Housing Units | 222 ( 3.9%) |
| Median Home Value | $350,723 |
| Average Home Value | $417,072 |
Housing Distribution
Address Breakdown
Residential
5,526
Single Family
5,267
Multi-Family
259
Businesses
717
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Listed by: Connie Pereira • RE/MAX RISE
Mls Name: Smart MLS
Mls Provider:
Mls ID: #24095466
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.