7 Trading Cove Circle #7, Norwich, CT, 06360 | $623/mo Cash Flow

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Monthly Cash Flow: 1 - 3k+

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7 Trading Cove Circle #7, Norwich, CT, 06360 | $623/mo Cash Flow | Ziffy

For Sale

Currently Rented

Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Investment property for sale in Norwich at 7 Trading Cove Circle #7, Norwich, CT, 06360 with 5% annual appreciation on a $240,765 basis while $2,258/mo rent supports operations. Total monthly income totals $2,258/mo and a $1,178/mo payment preserves $623/mo for cash returns. Annual cash flow comes to $7,471/yr on $79,814 deployed, and return on cash invested reaches 29.27% in year one. Equity gained on principal adds $1,554/yr, and five-year appreciation sums $66,519 alongside rental yield of 11.25%. Five-year ROI measures 153.84% and total cumulative return in cash totals $122,786.

Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $2,258/mo property income versus a $1,178/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.

Condo

Built in 2003

N/A lot

$N/A/sqft

No HOA

More details about the property

Welcome to Trading Cove Commons, Norwich's sought-after 55+ community! This charming single standing ranch-style condo, built in 2003, offers single-level living with a bright, open floor plan and immediate occupancy. The spacious living room features pinewood flooring, a ceiling fan, and sliding doors leading to a 20x12 private deck with awning perfect for enjoying your morning coffee. Dining area flows seamlessly from the living space, ideal for everyday living or entertainment. The tiled kitchen includes a gas range, microwave, refrigerator, dishwasher, and washer/dryer for added convenience. The primary bedroom is generously sized with a full bath, tub/shower combination, & wall-to-wall carpeting. A second bedroom and hallway 1/2 bath complete the layout. Additional features include central air, natural gas radiant heat, an attached one-car garage, walk-up expandable attic plumbed for a future bath currently providing excellent storage area and a full basement offering extra space or workshop potential. The community is professionally managed & includes lawn care, snow removal, trash pickup, & road maintenance in its low monthly HOA is $290. Located just off Route 82, Trading Cove Commons provides an easy, low-maintenance lifestyle close to shopping, medical facilities, and entertainment. This complex has income, resale price, and 55+ deed restrictions. State of CT must approve th application. Unit must be used as a primary residence; no rentals permitted. This complex has income, resale price, and 55+ deed restrictions. The state of CT must approve an application attached to listing. Unit must be used as a primary residence; no rentals permitted.

Neighborhood Data

Neighborhood data shown for ZIP Code: 06360, Norwich, CT area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	17,508 (100%)
Owner Occupied HU	7,848 (44.8%)
Renter Occupied HU	7,879 (45.0%)
Vacant Housing Units	1,781 (10.2%)
Median Home Value	$267,212
Average Home Value	$314,342