38 Hooper Street #12NorwichCT06360
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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 Norwich at 38 Hooper Street #12, Norwich, CT, 06360 uses $81,218 cash to close to unlock $1,194/yr annual cash flow and $100/mo monthly cash flow. Total monthly income runs $1,764/mo, and a $1,199/mo payment keeps the spread at $100/mo. Purchase price stands at $245,000, and rental yield measures 8.64% with $1,764/mo rent. Return on cash invested shows 21.38% in year one, and 5% annual appreciation builds toward $67,689 over five years. Five-year ROI reaches 111.55% and total cumulative return in cash records $90,600. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,764/mo property income covering a $1,199/mo payment rather than investor’s personal income.
Condo
Built in 2006
N/A 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: Lisa Bernard • Coldwell Banker Realty
Mls Name: Smart MLS
Mls ID: #24146835