385 Broad StreetNew LondonCT06320
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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 New London at 385 Broad Street, New London, CT, 06320 listed at $299,900 pairs $2,928/mo rent with a $1,468/mo payment to leave $890/mo cash flow. Total monthly income runs $2,928/mo, and annual cash flow reaches $10,682/yr on $99,417 cash to close. Return on cash invested measures 30.65% in year one, and rental yield registers 11.72% at a $299,900 basis. Equity gained on principal adds $1,935/yr, and annual property appreciation at 5% supports $82,857 by year five. Five-year ROI tracks 161.29% and total cumulative return in cash totals $160,348. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $2,928/mo property income relative to a $1,468/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 1884
5,662 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06320, New London, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,582 (100%) |
| Owner Occupied HU | 4,019 (31.9%) |
| Renter Occupied HU | 7,156 (56.9%) |
| Vacant Housing Units | 1,407 (11.2%) |
| Median Home Value | $291,296 |
| Average Home Value | $336,354 |
Housing Distribution
Address Breakdown
Residential
11,305
Single Family
9,237
Multi-Family
2,068
Businesses
1,322
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Listed by: Herb Carlon • Coldwell Banker Realty
Mls Name: Smart MLS
Mls ID: #24138691