35 Locust St APT 3DanversMA01923
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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 Danvers at 35 Locust St APT 3, Danvers, MA, 01923 priced at $350,000 converts $3,080/mo rent into $874/mo cash flow after a $1,713/mo obligation. Total monthly income equals $3,080/mo, and annual cash flow totals $10,489/yr on $116,025 invested. Return on cash invested prints 28.95% in year one, and rental yield reads 10.56% against a $350,000 entry. Equity gained on principal adds $2,258/yr, while 5% annual appreciation compiles into $96,699 by year five. Five-year ROI reaches 151.5% and total cumulative return in cash sums $175,778. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $3,080/mo property income covering a $1,713/mo payment, not borrower’s personal income.
Condo
Built in 1880
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 01923, Danvers, MA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,985 (100%) |
| Owner Occupied HU | 8,185 (68.3%) |
| Renter Occupied HU | 3,242 (27.1%) |
| Vacant Housing Units | 558 ( 4.7%) |
| Median Home Value | $677,909 |
| Average Home Value | $714,250 |
Housing Distribution
Address Breakdown
Residential
11,546
Single Family
8,892
Multi-Family
2,654
Businesses
1,526
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Listed by: Fermin Group • Century 21 North East
Mls Name: MLS PIN
Mls ID: #73420466