461 Bank Street #410New 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 461 Bank Street #410, New London, CT, 06320 offers a 12.07% rental yield on a $290,000 purchase with $2,917/mo rent. Total monthly income registers $2,917/mo, and a $1,419/mo payment leaves $485/mo available for distribution. Annual cash flow reaches $5,820/yr on $96,135 to close, and return on cash invested stands at 25.96% in year one. Equity gained on principal adds $1,871/yr while 5% annual appreciation supports $80,122 over five years. Portfolio math shows five-year ROI at 138.17% and total cumulative return in cash at $132,832. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,917/mo property income against a $1,419/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 2010
N/A lot
$N/A/sqft
$462 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
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Listed by: John Huhn • Coldwell Banker Realty
Mls Name: Smart MLS
Mls Provider:
Mls ID: #24097471
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.