38 Main St APT 15, North Reading, MA, 01864 | $547/mo Cash Flow

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

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38 Main St APT 15, North Reading, MA, 01864 | $547/mo Cash Flow | Ziffy

For Sale

Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Investment property for sale in North Reading at 38 Main St APT 15, North Reading, MA, 01864 uses $122,622 cash to close to unlock $6,565/yr annual cash flow and $547/mo monthly cash flow. Total monthly income runs $2,878/mo, and a $1,810/mo payment keeps the spread at $547/mo. Purchase price stands at $369,900, and rental yield measures 9.34% with $2,878/mo rent. Return on cash invested shows 25.26% in year one, and 5% annual appreciation builds toward $102,197 over five years. Five-year ROI reaches 131.74% and total cumulative return in cash records $161,542. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,878/mo property income covering a $1,810/mo payment rather than investor’s personal income.

Condo

Built in 1974

N/A lot

$N/A/sqft

No HOA

More details about the property

Located at 38 MAIN STREET U:15, North Reading, MA, this condominium offers an attractive property in great condition, ready for a new chapter. The kitchen is equipped with stone countertops, shaker cabinets, and a backsplash, providing a stylish and functional space to prepare meals. Imagine creating your favorite dishes while enjoying the sleek design and practical layout. This condominium features a deck, offering a private outdoor space to relax and unwind in the residential area. Picture yourself enjoying a morning coffee or evening drink, surrounded by the calm atmosphere. This unit square feet living area includes two bedrooms and one full bathroom, providing comfortable accommodations. The community pool offers a refreshing escape on warm days, providing a great way to socialize and enjoy the outdoors. Close to shopping, restaurants and all that North Reading has to offer. Easy to show!!

Neighborhood Data

Neighborhood data shown for ZIP Code: 01864, North Reading, MA area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	6,083 (100%)
Owner Occupied HU	4,921 (80.9%)
Renter Occupied HU	932 (15.3%)
Vacant Housing Units	230 ( 3.8%)
Median Home Value	$798,032
Average Home Value	$871,513