42 S Cherry St APT 316WallingfordCT06492
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeFinancing efficiency matters for international buyers, and 42 S Cherry St APT 316, Wallingford, CT, 06492 in Wallingford offers it: the 1.67 DSCR gives Ziffy Mortgage's underwriting team an unusually clean file, no U.S. credit, no personal income required. Rental yield 9.29%. Long-term, 5% appreciation is forecast to add $51,084, and $1,703/yr in principal paydown compounds equity steadily. Projected five-year cumulative return: $60,944.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.3% | 5.0% |
| Monthly Cash Flow | $(131) | $1,500 |
City averages based on Wallingford market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,391 |
| Total Monthly Debt Service | $1,489 |
| DSCR Ratio | 0.93x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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 1988
N/A lot
$N/A/sqft
$306 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06492, Wallingford, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,895 (100%) |
| Owner Occupied HU | 13,044 (69.0%) |
| Renter Occupied HU | 5,071 (26.8%) |
| Vacant Housing Units | 780 ( 4.1%) |
| Median Home Value | $387,324 |
| Average Home Value | $416,671 |
Housing Distribution
Address Breakdown
Residential
18,504
Single Family
17,175
Multi-Family
1,329
Businesses
2,086
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 1988
N/A lot
$N/A/sqft
$306 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06492, Wallingford, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,895 (100%) |
| Owner Occupied HU | 13,044 (69.0%) |
| Renter Occupied HU | 5,071 (26.8%) |
| Vacant Housing Units | 780 ( 4.1%) |
| Median Home Value | $387,324 |
| Average Home Value | $416,671 |
Housing Distribution
Address Breakdown
Residential
18,504
Single Family
17,175
Multi-Family
1,329
Businesses
2,086
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Gricelda Avila • LAER Realty Partners
Mls Name: Smart MLS
Mls Provider:
Mls ID: #24090842
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.