70 Farmington Avenue #1BNew LondonCT06320
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowDay-one income is the story at 70 Farmington Avenue #1B, New London, CT, 06320 in New London. Priced at $127,500, it generates $2,197/mo in gross rent and $816/mo in net monthly cash flow, a 20.68% yield that comfortably supports the 3.83 DSCR needed for Ziffy Mortgage's no-W2 DSCR mortgage. Projected annual cash flow: $9,791. Five-year appreciation: $35,226. Equity from principal paydown: $1,174/yr. Total projected cumulative return: $103,440.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 20.7% | 7.0% |
| Monthly Cash Flow | $816 | $1,000 |
City averages based on New London market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,197 |
| Total Monthly Debt Service | $1,331 |
| DSCR Ratio | 1.65x |
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.
Condo
Built in 1964
N/A lot
$N/A/sqft
$515 monthly 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
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
Condo
Built in 1964
N/A lot
$N/A/sqft
$515 monthly 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Sue Bowes • RE/MAX on the Bay
Mls Name: Smart MLS
Mls Provider:
Mls ID: #24075806
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.