611 Ocean Avenue #E5, New London, CT, 06320 | $167/mo Cash Flow

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611 Ocean Avenue #E5, New London, CT, 06320 | $167/mo Cash Flow | Ziffy

For Sale

Listed for sale 3 days ago

Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Investment property for sale in New London at 611 Ocean Avenue #E5, New London, CT, 06320 offers a 8.88% rental yield on a $275,000 purchase with $2,035/mo rent. Total monthly income registers $2,035/mo, and a $1,346/mo payment leaves $167/mo available for distribution. Annual cash flow reaches $1,998/yr on $91,163 to close, and return on cash invested stands at 22.1% in year one. Equity gained on principal adds $1,775/yr while 5% annual appreciation supports $75,977 over five years. Portfolio math shows five-year ROI at 115.4% and total cumulative return in cash at $105,203. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,035/mo property income against a $1,346/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.

Condo

Built in 1987

N/A lot

$N/A/sqft

No HOA

More details about the property

Here's a fantastic opportunity to move right into a spacious 2-bedroom, 1,440 sq ft townhouse in the Ocean Park complex, conveniently located near all the essentials. The main level greets you with an expansive, open-plan living room featuring a cozy fireplace, perfect for relaxing evenings. This space seamlessly flows into the kitchen, equipped with modern appliances and ample cabinetry and a dining area with French doors that open to a private deck, ideal for outdoor enjoyment. A half bath and convenient laundry room complete the main level. Upstairs, the primary bedroom suite is a true retreat, offering doors to a private balcony overlooking the ample open space back lawn, a full bath, and a walk-in closet. The second bedroom, along with a separate full bath, completes the upper level, providing ample space and privacy. Two brand new wall A/C units have also recently been installed. The full basement is ready for your personal touches, whether you envision additional living space, a craft room, home gym or perhaps an office, there is ample space to do so. This unit also includes a detached 1-car garage #G-21 with a newer door opener and remote for your convenience. Located just a short drive from Pfizer, Electric Boat, the Coast Guard Academy, Mitchell College, L&M Hospital, shopping malls, and beaches, this townhouse offers both comfort and accessibility. Don't miss the chance to make it your own schedule a showing today!

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