59 Connecticut AvenueNew LondonCT06320
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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 New London at 59 Connecticut Avenue, New London, CT, 06320 offers $1,926/mo rent that, after a $1,101/mo payment, leaves $398/mo cash flow. Total monthly income is $1,926/mo, and annual cash flow is $4,770/yr on $74,588 cash. Return on cash invested measures 26.3% in year one, and rental yield stands at 10.27% at a $225,000 entry. Equity gained on principal adds $1,452/yr while 5% annual appreciation compounds into $62,163 by year five. Five-year ROI records 137.94% and total cumulative return in cash reaches $102,885. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,926/mo property income versus a $1,101/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Multi Family
Built in 1910
4,356 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06320, New London, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,582 (100%) |
| Owner Occupied HU | 4,019 (31.9%) |
| Renter Occupied HU | 7,156 (56.9%) |
| Vacant Housing Units | 1,407 (11.2%) |
| Median Home Value | $291,296 |
| Average Home Value | $336,354 |
Housing Distribution
Address Breakdown
Residential
11,305
Single Family
9,237
Multi-Family
2,068
Businesses
1,322
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Listed by: Mark Mermelstein • eXp Realty
Mls Name: Smart MLS
Mls ID: #24122631