53 Highland Drive #53MonroeCT06468
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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
Rental property for sale in Monroe at 53 Highland Drive #53, Monroe, CT, 06468 priced at $374,000 converts $2,940/mo rent into after a $1,831/mo obligation. Total monthly income equals $2,940/mo. Return on cash invested prints 19.03% in year one, and rental yield reads 9.43% against a $374,000 entry. Equity gained on principal adds $2,413/yr, while 5% annual appreciation compiles into $103,329 by year five. Five-year ROI reaches 100.67% and total cumulative return in cash sums $124,813. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,940/mo property income covering a $1,831/mo payment, not borrower’s personal income.
Condo
Built in 1995
N/A lot
$N/A/sqft
$489 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06468, Monroe, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,906 (100%) |
| Owner Occupied HU | 6,235 (90.3%) |
| Renter Occupied HU | 498 ( 7.2%) |
| Vacant Housing Units | 173 ( 2.5%) |
| Median Home Value | $522,292 |
| Average Home Value | $573,501 |
Housing Distribution
Address Breakdown
Residential
6,919
Single Family
6,889
Multi-Family
30
Businesses
808
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Listed by: Marissa Papa • Preston Gray Real Estate
Mls Name: Smart MLS
Mls Provider:
Mls ID: #24083577
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.