366 Grove StMelroseMA02176
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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 Melrose at 366 Grove St, Melrose, MA, 02176 generates $5,186/mo in rent and, after a $3,670/mo payment, leaves $460/mo in cash flow. Total monthly income is $5,186/mo, and annual cash flow is $5,519/yr on $246,717 invested. Return on cash invested sits at 22.3% in year one, and rental yield is 8.3% on a $749,900 entry. Equity gained on principal adds $4,839/yr, while 5% annual appreciation builds toward $207,184 over five years. Five-year ROI reaches 115.76% and total cumulative return in cash sums $285,598. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $5,186/mo property income rather than buyer’s personal income.
Single Family
Built in 1913
4,199 sqft 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: Evelyn Rockas • Coldwell Banker Realty - Lynnfield
Mls Name: MLS PIN
Mls ID: #73444256