34 Cortland Way #34NewingtonCT06111
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThe 9.72% yield at 34 Cortland Way #34, Newington, CT, 06111 in Newington is solid, but the $1,511/mo payment compresses net cash flow to $174/mo at $336,000. This is a tight-spread property, income covers debt, with little cushion. For investors who can optimise occupancy, the upside is real: 5% annual appreciation adds $92,831 by year five, and $3,095/yr in loan paydown builds equity. Ziffy Mortgage qualifies this via DSCR (1.80) without U.S. income documentation. Total projected return: $140,646.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.7% | 5.5% |
| Monthly Cash Flow | $174 | $1,200 |
City averages based on Newington market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,720 |
| Total Monthly Debt Service | $2,412 |
| DSCR Ratio | 1.13x |
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 1987
N/A lot
$N/A/sqft
$263 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06111, Newington, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,986 (100%) |
| Owner Occupied HU | 10,293 (73.6%) |
| Renter Occupied HU | 3,052 (21.8%) |
| Vacant Housing Units | 641 ( 4.6%) |
| Median Home Value | $343,623 |
| Average Home Value | $367,720 |
Housing Distribution
Address Breakdown
Residential
13,030
Single Family
11,761
Multi-Family
1,269
Businesses
1,059
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 1987
N/A lot
$N/A/sqft
$263 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06111, Newington, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,986 (100%) |
| Owner Occupied HU | 10,293 (73.6%) |
| Renter Occupied HU | 3,052 (21.8%) |
| Vacant Housing Units | 641 ( 4.6%) |
| Median Home Value | $343,623 |
| Average Home Value | $367,720 |
Housing Distribution
Address Breakdown
Residential
13,030
Single Family
11,761
Multi-Family
1,269
Businesses
1,059
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Monica Yoder • Century 21 Clemens Group
Mls Name: Smart MLS
Mls Provider:
Mls ID: #24111470
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.