62 Rice RoadMeridenCT06450
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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 Meriden at 62 Rice Road, Meriden, CT, 06450 offers $3,518/mo rent that, after a $1,752/mo payment, leaves $1,030/mo cash flow. Total monthly income is $3,518/mo, and annual cash flow is $12,364/yr on $118,677 cash. Return on cash invested measures 30.33% in year one, and rental yield stands at 11.79% at a $358,000 entry. Equity gained on principal adds $2,310/yr while 5% annual appreciation compounds into $98,909 by year five. Five-year ROI records 159.73% and total cumulative return in cash reaches $189,558. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $3,518/mo property income versus a $1,752/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1966
0.28 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06450, Meriden, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,548 (100%) |
| Owner Occupied HU | 8,633 (55.5%) |
| Renter Occupied HU | 5,916 (38.0%) |
| Vacant Housing Units | 999 ( 6.4%) |
| Median Home Value | $273,744 |
| Average Home Value | $352,363 |
Housing Distribution
Address Breakdown
Residential
14,312
Single Family
12,493
Multi-Family
1,819
Businesses
1,173
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Listed by: Jay Smolenski • Berkshire Hathaway NE Prop.
Mls Name: Smart MLS
Mls Provider:
Mls ID: #24109434
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.