56 Columbus AvenueOld LymeCT06371
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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 Old Lyme at 56 Columbus Avenue, Old Lyme, CT, 06371 priced at $1,150,000 converts $4,193/mo rent into after a $5,629/mo obligation. Total monthly income equals $4,193/mo. Return on cash invested prints 8.71% in year one, and rental yield reads 4.38% against a $1,150,000 entry. Equity gained on principal adds $7,421/yr, while 5% annual appreciation compiles into $317,724 by year five. Five-year ROI reaches 43.49% and total cumulative return in cash sums $162,045. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $4,193/mo property income covering a $5,629/mo payment, not borrower’s personal income.
Single Family
Built in 1952
8,276 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06371, Old Lyme, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,220 (100%) |
| Owner Occupied HU | 3,777 (60.7%) |
| Renter Occupied HU | 593 ( 9.5%) |
| Vacant Housing Units | 1,850 (29.7%) |
| Median Home Value | $574,604 |
| Average Home Value | $675,310 |
Housing Distribution
Address Breakdown
Residential
4,922
Single Family
4,922
Multi-Family
0
Businesses
368
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Listed by: Kevin Geysen • William Pitt Sotheby's Int'l
Mls Name: Smart MLS
Mls ID: #24108972