250 Forest Ridge Rd UNIT 5MontereyCA93940
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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 Monterey at 250 Forest Ridge Rd UNIT 5, Monterey, CA, 93940 generates $3,573/mo in rent, after a $3,426/mo payment. Total monthly income is $3,573/mo. Return on cash invested sits at 16.11% in year one, and rental yield is 6.13% on a $700,000 entry. Equity gained on principal adds $4,517/yr, while 5% annual appreciation builds toward $193,397 over five years. Five-year ROI reaches 82.45% and total cumulative return in cash sums $189,880. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $3,573/mo property income rather than buyer’s personal income.
Condo
Built in 1974
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 93940, Monterey, CA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,195 (100%) |
| Owner Occupied HU | 5,474 (36.0%) |
| Renter Occupied HU | 8,085 (53.2%) |
| Vacant Housing Units | 1,636 (10.8%) |
| Median Home Value | $1,052,750 |
| Average Home Value | $1,188,289 |
Housing Distribution
Address Breakdown
Residential
15,034
Single Family
13,351
Multi-Family
1,683
Businesses
2,778
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Listed by: Alfred Ramirez • Ramirez Properties
Mls Name: MLSListings Inc
Mls ID: #ML82015313