29 East Cliff StreetNorwichCT06360
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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 Norwich at 29 East Cliff Street, Norwich, CT, 06360 priced at $320,000 converts $2,785/mo rent into $496/mo cash flow after a $1,566/mo obligation. Total monthly income equals $2,785/mo, and annual cash flow totals $5,950/yr on $106,080 invested. Return on cash invested prints 25.52% in year one, and rental yield reads 10.44% against a $320,000 entry. Equity gained on principal adds $2,065/yr, while 5% annual appreciation compiles into $88,410 by year five. Five-year ROI reaches 134.18% and total cumulative return in cash sums $142,335. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,785/mo property income covering a $1,566/mo payment, not borrower’s personal income.
Single Family
Built in 1900
10,018 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06360, Norwich, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,508 (100%) |
| Owner Occupied HU | 7,848 (44.8%) |
| Renter Occupied HU | 7,879 (45.0%) |
| Vacant Housing Units | 1,781 (10.2%) |
| Median Home Value | $267,212 |
| Average Home Value | $314,342 |
Housing Distribution
Address Breakdown
Residential
16,023
Single Family
14,090
Multi-Family
1,933
Businesses
1,102
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Listed by: Renee Sandoval • Ann McBride Real Estate
Mls Name: Smart MLS
Mls Provider:
Mls ID: #24095190
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.