34 Michael DrFarmingtonCT06032
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
Investment Highlights
Rental property for sale in Farmington at 34 Michael Dr, Farmington, CT, 06032 priced at $599,995 converts $5,940/mo rent into $1,863/mo cash flow after a $2,937/mo obligation. Total monthly income equals $5,940/mo, and annual cash flow totals $22,356/yr on $197,398 invested. Return on cash invested prints 31.39% in year one, and rental yield reads 11.88% against a $599,995 entry. Equity gained on principal adds $3,872/yr, while 5% annual appreciation compiles into $165,768 by year five. Five-year ROI reaches 165.17% and total cumulative return in cash sums $326,050. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $5,940/mo property income covering a $2,937/mo payment, not borrower’s personal income.
Single Family
Built in 1983
0.48 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06032, Farmington, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,666 (100%) |
| Owner Occupied HU | 5,730 (66.1%) |
| Renter Occupied HU | 2,487 (28.7%) |
| Vacant Housing Units | 449 ( 5.2%) |
| Median Home Value | $506,652 |
| Average Home Value | $568,271 |
Housing Distribution
Address Breakdown
Residential
8,435
Single Family
7,027
Multi-Family
1,408
Businesses
1,040
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Listed by: William Glanville • Glanville Real Estate
Mls Name: Smart MLS
Mls Provider:
Mls ID: #24088811
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.