72 Locust AveNew CanaanCT06840
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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
Rental property for sale in New Canaan at 72 Locust Ave, New Canaan, CT, 06840 generates $5,486/mo in rent, after a $6,113/mo payment. Total monthly income is $5,486/mo. Return on cash invested sits at 11.47% in year one, and rental yield is 5.27% on a $1,249,000 entry. Equity gained on principal adds $8,060/yr, while 5% annual appreciation builds toward $345,076 over five years. Five-year ROI reaches 58.32% and total cumulative return in cash sums $235,991. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $5,486/mo property income rather than buyer’s personal income.
Multi Family
Built in 1971
8,276 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06840, New Canaan, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,520 (100%) |
| Owner Occupied HU | 5,560 (73.9%) |
| Renter Occupied HU | 1,434 (19.1%) |
| Vacant Housing Units | 526 ( 7.0%) |
| Median Home Value | $1,591,336 |
| Average Home Value | $1,568,055 |
Housing Distribution
Address Breakdown
Residential
7,433
Single Family
7,146
Multi-Family
287
Businesses
885
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Listed by: The Engel Team at Douglas Elliman • Douglas Elliman of Connecticut
Mls Name: Smart MLS
Mls Provider:
Mls ID: #24094293
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.