688 Ridge RdMiddletownCT06457
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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
Investment property for sale in Middletown at 688 Ridge Rd, Middletown, CT, 06457 uses $140,888 cash to close to unlock $6,346/yr annual cash flow and $529/mo monthly cash flow. Total monthly income runs $3,462/mo, and a $2,080/mo payment keeps the spread at $529/mo. Purchase price stands at $425,000, and rental yield measures 9.78% with $3,462/mo rent. Return on cash invested shows 24.41% in year one, and 5% annual appreciation builds toward $117,420 over five years. Five-year ROI reaches 127.93% and total cumulative return in cash records $180,233. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $3,462/mo property income covering a $2,080/mo payment rather than investor’s personal income.
Single Family
Built in 1930
0.35 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06457, Middletown, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 22,098 (100%) |
| Owner Occupied HU | 11,117 (50.3%) |
| Renter Occupied HU | 9,428 (42.7%) |
| Vacant Housing Units | 1,553 ( 7.0%) |
| Median Home Value | $343,608 |
| Average Home Value | $392,667 |
Housing Distribution
Address Breakdown
Residential
20,793
Single Family
17,574
Multi-Family
3,219
Businesses
1,530
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Listed by: SOCIETY TEAM AT KELLER WILLIAMS REALTY • KW Legacy Partners
Mls Name: Smart MLS
Mls Provider:
Mls ID: #24076188
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.