61 School StreetNorwichCT06360
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Nearby investment properties with comparable prices
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 Norwich at 61 School Street, Norwich, CT, 06360 offers $2,400/mo rent that, after a $1,443/mo payment, leaves $397/mo cash flow. Total monthly income is $2,400/mo, and annual cash flow is $4,760/yr on $97,759 cash. Return on cash invested measures 24.78% in year one, and rental yield stands at 9.77% at a $294,900 entry. Equity gained on principal adds $1,903/yr while 5% annual appreciation compounds into $81,475 by year five. Five-year ROI records 129.75% and total cumulative return in cash reaches $126,847. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,400/mo property income versus a $1,443/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Multi Family
Built in 1890
2,613 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06360, Norwich, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,508 (100%) |
| Owner Occupied HU | 7,848 (44.8%) |
| Renter Occupied HU | 7,879 (45.0%) |
| Vacant Housing Units | 1,781 (10.2%) |
| Median Home Value | $267,212 |
| Average Home Value | $314,342 |
Housing Distribution
Address Breakdown
Residential
16,023
Single Family
14,090
Multi-Family
1,933
Businesses
1,102
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Listed by: Nadia Kachwaha • KW Legacy Partners
Mls Name: Smart MLS
Mls ID: #24112172