55 Corrigan AvenueMeridenCT06451
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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 Meriden at 55 Corrigan Avenue, Meriden, CT, 06451 priced at $365,000 pairs $3,564/mo rent with $1,085/mo cash flow after a $1,786/mo payment. Total monthly income equals $3,564/mo, and annual cash flow comes to $13,014/yr on $120,998 invested. Return on cash invested is 30.66% in year one, and rental yield stands at 11.72% on a $365,000 basis. Equity gained on principal adds $2,355/yr, and 5% annual appreciation accumulates to $100,843 by year five. Five-year ROI measures 161.33% and total cumulative return in cash reaches $195,199. For financing, Ziffy Mortgage’s DSCR program evaluates $3,564/mo property income against a $1,786/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 1940
0.97 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06451, Meriden, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,791 (100%) |
| Owner Occupied HU | 5,691 (52.7%) |
| Renter Occupied HU | 4,353 (40.3%) |
| Vacant Housing Units | 747 ( 6.9%) |
| Median Home Value | $277,449 |
| Average Home Value | $337,992 |
Housing Distribution
Address Breakdown
Residential
9,464
Single Family
8,427
Multi-Family
1,037
Businesses
491
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Listed by: Rachael Cisz • Serhant Connecticut, LLC
Mls Name: Smart MLS
Mls ID: #24147243