7 Midway Drive #7CromwellCT06416
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
Investment Highlights
Rental property for sale in Cromwell at 7 Midway Drive #7, Cromwell, CT, 06416 priced at $319,500 converts $1,680/mo rent into after a $1,564/mo obligation. Total monthly income equals $1,680/mo. Return on cash invested prints 14.35% in year one, and rental yield reads 6.31% against a $319,500 entry. Equity gained on principal adds $2,062/yr, while 5% annual appreciation compiles into $88,272 by year five. Five-year ROI reaches 73.81% and total cumulative return in cash sums $78,170. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,680/mo property income covering a $1,564/mo payment, not borrower’s personal income.
Condo
Built in 1983
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06416, Cromwell, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,413 (100%) |
| Owner Occupied HU | 4,827 (75.3%) |
| Renter Occupied HU | 1,384 (21.6%) |
| Vacant Housing Units | 202 ( 3.1%) |
| Median Home Value | $406,672 |
| Average Home Value | $444,400 |
Housing Distribution
Address Breakdown
Residential
6,270
Single Family
5,268
Multi-Family
1,002
Businesses
569
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Tracey A. Precourt • Century 21 Clemens Group
Mls Name: Smart MLS
Mls ID: #24144672