306 Old Colchester Rd #198SalemCT06420
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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 Salem at 306 Old Colchester Rd #198, Salem, CT, 06420 offers a 9.14% rental yield on a $138,000 purchase with $1,051/mo rent. 51% in year one. Equity gained on principal adds $890/yr while 5% annual appreciation supports $38,127 over five years. Portfolio math shows five-year ROI at 92.77% and total cumulative return in cash at $42,438. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,051/mo property income against a $675/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1998
N/A lot
$N/A/sqft
$2,462 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06420, Salem, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,765 (100%) |
| Owner Occupied HU | 1,453 (82.3%) |
| Renter Occupied HU | 202 (11.4%) |
| Vacant Housing Units | 110 ( 6.2%) |
| Median Home Value | $414,809 |
| Average Home Value | $443,741 |
Housing Distribution
Address Breakdown
Residential
1,787
Single Family
1,739
Multi-Family
48
Businesses
77
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Listed by: Rose Warmingham • Realty ONE Group Connect
Mls Name: Smart MLS
Mls Provider:
Mls ID: #24081710
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.