62 Rice RoadMeridenCT06450
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowInvestors targeting immediate dollar income will find 62 Rice Road, Meriden, CT, 06450 in Meriden hard to pass up. The 11.79% gross yield on a $358,000 purchase results in $3,518/mo in rent and $1,030/mo in net cash, well above the spread required for Ziffy Mortgage's DSCR qualification (2.19). Annual cash flow of $12,366, five-year appreciation of $98,909, and $3,297/yr in equity build-up combine for a projected total cumulative return of $203,238.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 11.8% | 5.2% |
| Monthly Cash Flow | $1,030 | $850 |
City averages based on Meriden market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,518 |
| Total Monthly Debt Service | $2,345 |
| DSCR Ratio | 1.50x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
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
Nearby investment properties with comparable rents
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
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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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.