51 Forest Ave APT 31GreenwichCT06870
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeHigh DSCR is a competitive advantage at closing. 51 Forest Ave APT 31, Greenwich, CT, 06870 in Greenwich achieves 1.54, rent of $6,008/mo covers the $3,912/mo payment 1.5x over at $870,000. Rental yield 8.29%. That makes it both an efficient operational hold and a straightforward underwrite for Ziffy Mortgage's DSCR program. No domestic credit history or income documentation required. Appreciation at 5%/yr adds $240,365 over five years, with $8,013/yr in principal reduction bringing total projected return to $284,929.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.3% | 4.0% |
| Monthly Cash Flow | $(794) | $2,000 |
City averages based on Greenwich market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $6,008 |
| Total Monthly Debt Service | $6,456 |
| 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 1990
N/A lot
$N/A/sqft
$891 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06870, Old Greenwich, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,720 (100%) |
| Owner Occupied HU | 2,106 (77.4%) |
| Renter Occupied HU | 470 (17.3%) |
| Vacant Housing Units | 144 ( 5.3%) |
| Median Home Value | $1,718,130 |
| Average Home Value | $1,626,334 |
Housing Distribution
Address Breakdown
Residential
2,793
Single Family
2,475
Multi-Family
318
Businesses
328
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 1990
N/A lot
$N/A/sqft
$891 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06870, Old Greenwich, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,720 (100%) |
| Owner Occupied HU | 2,106 (77.4%) |
| Renter Occupied HU | 470 (17.3%) |
| Vacant Housing Units | 144 ( 5.3%) |
| Median Home Value | $1,718,130 |
| Average Home Value | $1,626,334 |
Housing Distribution
Address Breakdown
Residential
2,793
Single Family
2,475
Multi-Family
318
Businesses
328
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Pat Cameron • BHHS New England Properties
Mls Name: Greenwich MLS, Inc.
Mls Provider:
Mls ID: #123199
Disclaimer: Listing data courtesy of Greenwich MLS. IDX information is provided exclusively for consumers personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS.