314 Water St APT 6WakefieldMA01880
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThis is a cash-flow-light asset: 314 Water St APT 6, Wakefield, MA, 01880 in Wakefield, $345,000, 9.11% gross yield, $49/mo net income. Consider it a market-entry position, the $2,620/mo rent covers the $1,551/mo payment with a margin, and 5%/yr appreciation is projected to add $95,317 to the asset's value over five years. Ziffy Mortgage approves DSCR loans (coverage 1.69) for non-U.S. residents without domestic income documentation. Consider a higher down payment to widen the monthly margin. Total projected return: $159,741.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.1% | 6.0% |
| Monthly Cash Flow | $49 | $450 |
City averages based on Wakefield market data in our database. Property projections are estimates.
DSCR Rental Loan Qualification
Qualifies using the property's rental income, not your personal income.
- ✓No W-2, pay stubs, or tax returns needed
- ✓Rental income qualifies you
- ✓Built for real estate investors
| Monthly Rental Income | $2,620 |
| Total Monthly Debt Service | $2,037 |
| DSCR Ratio | 1.29x |
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 1900
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 01880, Wakefield, MA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,722 (100%) |
| Owner Occupied HU | 7,861 (67.1%) |
| Renter Occupied HU | 3,361 (28.7%) |
| Vacant Housing Units | 500 ( 4.3%) |
| Median Home Value | $739,351 |
| Average Home Value | $784,333 |
Housing Distribution
Address Breakdown
Residential
11,280
Single Family
8,920
Multi-Family
2,360
Businesses
1,330
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 1900
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 01880, Wakefield, MA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,722 (100%) |
| Owner Occupied HU | 7,861 (67.1%) |
| Renter Occupied HU | 3,361 (28.7%) |
| Vacant Housing Units | 500 ( 4.3%) |
| Median Home Value | $739,351 |
| Average Home Value | $784,333 |
Housing Distribution
Address Breakdown
Residential
11,280
Single Family
8,920
Multi-Family
2,360
Businesses
1,330
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: N/A • N/A
Mls Name: MLS PIN
Mls ID: #73556036