718 Broad Street #7BMeridenCT06450
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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 Meriden at 718 Broad Street #7B, Meriden, CT, 06450 with 5% annual appreciation on a $192,500 basis while $2,350/mo rent supports operations. Total monthly income totals $2,350/mo and a $942/mo payment preserves $782/mo for cash returns. Annual cash flow comes to $9,387/yr on $63,814 deployed, and return on cash invested reaches 34.62% in year one. Equity gained on principal adds $1,242/yr, and five-year appreciation sums $53,184 alongside rental yield of 14.65%. Five-year ROI measures 184.33% and total cumulative return in cash totals $117,629.
Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $2,350/mo property income versus a $942/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.
Condo
Built in 1990
N/A lot
$N/A/sqft
$260 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06450, Meriden, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,548 (100%) |
| Owner Occupied HU | 8,633 (55.5%) |
| Renter Occupied HU | 5,916 (38.0%) |
| Vacant Housing Units | 999 ( 6.4%) |
| Median Home Value | $273,744 |
| Average Home Value | $352,363 |
Housing Distribution
Address Breakdown
Residential
14,312
Single Family
12,493
Multi-Family
1,819
Businesses
1,173
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Listed by: Joseph Harvey • Best Real Estate Brokerage LLC
Mls Name: Smart MLS
Mls Provider:
Mls ID: #24093825
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.