281 Gardner Avenue #G5New LondonCT06320
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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 New London at 281 Gardner Avenue #G5, New London, CT, 06320 offers $1,717/mo rent that, after a $790/mo payment, leaves $182/mo cash flow. Total monthly income is $1,717/mo, and annual cash flow is $2,186/yr on $53,537 cash. Return on cash invested measures 23.99% in year one, and rental yield stands at 12.76% at a $161,500 entry. Equity gained on principal adds $1,042/yr while 5% annual appreciation compounds into $44,619 by year five. Five-year ROI records 129.16% and total cumulative return in cash reaches $69,148. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,717/mo property income versus a $790/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Condo
Built in 1967
N/A lot
$N/A/sqft
$438 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06320, New London, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,582 (100%) |
| Owner Occupied HU | 4,019 (31.9%) |
| Renter Occupied HU | 7,156 (56.9%) |
| Vacant Housing Units | 1,407 (11.2%) |
| Median Home Value | $291,296 |
| Average Home Value | $336,354 |
Housing Distribution
Address Breakdown
Residential
11,305
Single Family
9,237
Multi-Family
2,068
Businesses
1,322
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Listed by: Mary Poola • William Raveis Real Estate
Mls Name: Smart MLS
Mls Provider:
Mls ID: #24094386
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.