56 Norwich AvenueColchesterCT06415
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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 Colchester at 56 Norwich Avenue, Colchester, CT, 06415 offers $2,927/mo rent that, after a $2,883/mo payment. Total monthly income is $2,927/mo. Return on cash invested measures 13.4% in year one, and rental yield stands at 5.96% at a $589,000 entry. Equity gained on principal adds $3,801/yr while 5% annual appreciation compounds into $162,730 by year five. Five-year ROI records 68.71% and total cumulative return in cash reaches $133,142. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,927/mo property income versus a $2,883/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Multi Family
Built in 1950
0.54 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06415, Colchester, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,191 (100%) |
| Owner Occupied HU | 5,223 (72.6%) |
| Renter Occupied HU | 1,325 (18.4%) |
| Vacant Housing Units | 643 ( 8.9%) |
| Median Home Value | $372,596 |
| Average Home Value | $404,128 |
Housing Distribution
Address Breakdown
Residential
6,910
Single Family
6,666
Multi-Family
244
Businesses
470
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Listed by: Mary Poola • William Raveis Real Estate
Mls Name: Smart MLS
Mls ID: #24132330