302 Fairmount Drive #BMonroeCT06468
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowIf cash-on-cash performance is your primary filter, 302 Fairmount Drive #B, Monroe, CT, 06468 in Monroe deserves attention. This $389,900 property earns $3,283/mo in rent, a 10.1% gross yield, and nets $634/mo after the $1,753/mo payment. DSCR 1.87 makes it one of the cleaner DSCR underwriting candidates Ziffy Mortgage sees in this market. Five-year appreciation of $107,722 compounds alongside $3,591/yr in yearly equity build, for a total cumulative return of $189,713.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.1% | 5.2% |
| Monthly Cash Flow | $634 | $400 |
City averages based on Monroe market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,283 |
| Total Monthly Debt Service | $2,494 |
| DSCR Ratio | 1.32x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 1988
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06468, Monroe, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,906 (100%) |
| Owner Occupied HU | 6,235 (90.3%) |
| Renter Occupied HU | 498 ( 7.2%) |
| Vacant Housing Units | 173 ( 2.5%) |
| Median Home Value | $522,292 |
| Average Home Value | $573,501 |
Housing Distribution
Address Breakdown
Residential
6,919
Single Family
6,889
Multi-Family
30
Businesses
808
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Condo
Built in 1988
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06468, Monroe, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,906 (100%) |
| Owner Occupied HU | 6,235 (90.3%) |
| Renter Occupied HU | 498 ( 7.2%) |
| Vacant Housing Units | 173 ( 2.5%) |
| Median Home Value | $522,292 |
| Average Home Value | $573,501 |
Housing Distribution
Address Breakdown
Residential
6,919
Single Family
6,889
Multi-Family
30
Businesses
808
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Brian Christy • William Raveis Real Estate
Mls Name: Smart MLS
Mls ID: #24127331