29-31 Essex Ave UNIT 2SwampscottMA01907
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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 Swampscott at 29-31 Essex Ave UNIT 2, Swampscott, MA, 01907 offers a 10.9% rental yield on a $480,000 purchase with $4,362/mo rent. Total monthly income registers $4,362/mo, and a $2,349/mo payment leaves $1,337/mo available for distribution. Annual cash flow reaches $16,044/yr on $159,120 to close, and return on cash invested stands at 29.99% in year one. Equity gained on principal adds $3,097/yr while 5% annual appreciation supports $132,615 over five years. Portfolio math shows five-year ROI at 157.05% and total cumulative return in cash at $249,893. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $4,362/mo property income against a $2,349/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1920
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 01907, Swampscott, MA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,479 (100%) |
| Owner Occupied HU | 4,642 (71.6%) |
| Renter Occupied HU | 1,533 (23.7%) |
| Vacant Housing Units | 304 ( 4.7%) |
| Median Home Value | $789,972 |
| Average Home Value | $855,233 |
Housing Distribution
Address Breakdown
Residential
6,287
Single Family
4,918
Multi-Family
1,369
Businesses
349
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Listed by: Devin Wong • Kava Realty Group, Inc.
Mls Name: MLS PIN
Mls ID: #73454357