461 Bank St UNIT P9New LondonCT06320
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
Investment Highlights
Rental property for sale in New London at 461 Bank St UNIT P9, New London, CT, 06320 generates $2,917/mo in rent, after a $1,713/mo payment. Total monthly income is $2,917/mo. Return on cash invested sits at 18.94% in year one, and rental yield is 10% on a $350,000 entry. Equity gained on principal adds $2,258/yr, while 5% annual appreciation builds toward $96,699 over five years. Five-year ROI reaches 100.83% and total cumulative return in cash sums $116,990. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,917/mo property income rather than buyer’s personal income.
Condo
Built in 2010
N/A lot
$N/A/sqft
$550 monthly 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Joe Simmons • Coldwell Banker Realty
Mls Name: Smart MLS
Mls Provider:
Mls ID: #24079256
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.