340 Main St APT 508MelroseMA02176
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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 Melrose at 340 Main St APT 508, Melrose, MA, 02176 uses $107,738 cash to close to unlock $3,723/yr annual cash flow and $310/mo monthly cash flow. Total monthly income runs $2,359/mo, and a $1,591/mo payment keeps the spread at $310/mo. Purchase price stands at $325,000, and rental yield measures 8.71% with $2,359/mo rent. Return on cash invested shows 23.37% in year one, and 5% annual appreciation builds toward $89,792 over five years. Five-year ROI reaches 121.55% and total cumulative return in cash records $130,957. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,359/mo property income covering a $1,591/mo payment rather than investor’s personal income.
Condo
Built in 1970
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 02176, Melrose, MA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,677 (100%) |
| Owner Occupied HU | 7,802 (61.5%) |
| Renter Occupied HU | 4,389 (34.6%) |
| Vacant Housing Units | 486 ( 3.8%) |
| Median Home Value | $854,921 |
| Average Home Value | $937,328 |
Housing Distribution
Address Breakdown
Residential
12,344
Single Family
8,744
Multi-Family
3,600
Businesses
665
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Listed by: Richard Palladino • Century 21 North East
Mls Name: MLS PIN
Mls ID: #73473522