34 Ridgewood DriveNorwichCT06360
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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
Rental property for sale in Norwich at 34 Ridgewood Drive, Norwich, CT, 06360 priced at $339,000 pairs $2,760/mo rent with $457/mo cash flow after a $1,659/mo payment. Total monthly income equals $2,760/mo, and annual cash flow comes to $5,483/yr on $112,379 invested. Return on cash invested is 24.79% in year one, and rental yield stands at 9.77% on a $339,000 basis. Equity gained on principal adds $2,188/yr, and 5% annual appreciation accumulates to $93,659 by year five. Five-year ROI measures 129.8% and total cumulative return in cash reaches $145,864. For financing, Ziffy Mortgage’s DSCR program evaluates $2,760/mo property income against a $1,659/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 1957
0.30 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06360, Norwich, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,508 (100%) |
| Owner Occupied HU | 7,848 (44.8%) |
| Renter Occupied HU | 7,879 (45.0%) |
| Vacant Housing Units | 1,781 (10.2%) |
| Median Home Value | $267,212 |
| Average Home Value | $314,342 |
Housing Distribution
Address Breakdown
Residential
16,023
Single Family
14,090
Multi-Family
1,933
Businesses
1,102
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Listed by: Daniel Senofonte • MW Park Real Estate LLC
Mls Name: Smart MLS
Mls ID: #24126854