38 Hope Street #1101NianticCT06357
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowIf cash-on-cash performance is your primary filter, 38 Hope Street #1101, Niantic, CT, 06357 in Niantic deserves attention. This $268,000 property earns $2,532/mo in rent, a 11.34% gross yield, and nets $636/mo after the $1,205/mo payment. DSCR 2.10 makes it one of the cleaner DSCR underwriting candidates Ziffy Mortgage sees in this market. Five-year appreciation of $74,043 compounds alongside $2,468/yr in yearly equity build, for a total cumulative return of $143,600.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 11.3% | 7.0% |
| Monthly Cash Flow | $636 | $300 |
City averages based on Niantic market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,532 |
| Total Monthly Debt Service | $1,789 |
| DSCR Ratio | 1.42x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 2015
N/A lot
$N/A/sqft
$75 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06357, Niantic, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,030 (100%) |
| Owner Occupied HU | 3,800 (63.0%) |
| Renter Occupied HU | 1,172 (19.4%) |
| Vacant Housing Units | 1,058 (17.5%) |
| Median Home Value | $408,576 |
| Average Home Value | $487,963 |
Housing Distribution
Address Breakdown
Residential
5,973
Single Family
5,620
Multi-Family
353
Businesses
460
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Condo
Built in 2015
N/A lot
$N/A/sqft
$75 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06357, Niantic, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,030 (100%) |
| Owner Occupied HU | 3,800 (63.0%) |
| Renter Occupied HU | 1,172 (19.4%) |
| Vacant Housing Units | 1,058 (17.5%) |
| Median Home Value | $408,576 |
| Average Home Value | $487,963 |
Housing Distribution
Address Breakdown
Residential
5,973
Single Family
5,620
Multi-Family
353
Businesses
460
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: The Valentine Team of William Pitt Sotheby's International Realty • William Pitt Sotheby's Int'l
Mls Name: Smart MLS
Mls Provider:
Mls ID: #24107984
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.