294 Central AvenueNorwichCT06360
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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 294 Central Avenue, Norwich, CT, 06360 priced at $259,900 converts $1,535/mo rent into after a $1,272/mo obligation. Total monthly income equals $1,535/mo. Return on cash invested prints 16.69% in year one, and rental yield reads 7.09% against a $259,900 entry. Equity gained on principal adds $1,677/yr, while 5% annual appreciation compiles into $71,806 by year five. Five-year ROI reaches 86.44% and total cumulative return in cash sums $74,470. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,535/mo property income covering a $1,272/mo payment, not borrower’s personal income.
Multi Family
Built in 1900
3,920 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: Tina Luft • Kazantzis Real Estate, LLC
Mls Name: Smart MLS
Mls ID: #24138560