62 Willetts 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 62 Willetts Avenue, New London, CT, 06320 generates $2,264/mo in rent and, after a $1,542/mo payment, leaves $124/mo in cash flow. Total monthly income is $2,264/mo, and annual cash flow is $1,482/yr on $104,423 invested. Return on cash invested sits at 21.33% in year one, and rental yield is 8.62% on a $315,000 entry. Equity gained on principal adds $2,033/yr, while 5% annual appreciation builds toward $87,029 over five years. Five-year ROI reaches 111.26% and total cumulative return in cash sums $116,177. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,264/mo property income rather than buyer’s personal income.
Multi Family
Built in 1886
0.26 Acres 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: Thomas Switz • Switz Real Estate Associates
Mls Name: Smart MLS
Mls Provider:
Mls ID: #24100673
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.