72 North Elm Street APT 2ACanaanCT06018
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash Flow72 North Elm Street APT 2A, Canaan, CT, 06018 in Canaan earns a respectable 10.34% gross yield at $195,000, but after the $877/mo mortgage the net cash flow is $180/mo, a tight but positive spread. Expense discipline (vacancy, management, maintenance) will determine whether the margin widens. Ziffy Mortgage's DSCR mortgage (1.92) still qualifies on property income; a larger down payment can improve the cash-flow buffer. Long-term, 5% appreciation projects $53,875 over five years, making equity the dominant return driver. Total projected return: $97,333.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.3% | 7.5% |
| Monthly Cash Flow | $180 | $250 |
City averages based on Canaan market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,680 |
| Total Monthly Debt Service | $1,247 |
| DSCR Ratio | 1.35x |
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 1989
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06018, Canaan, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,336 (100%) |
| Owner Occupied HU | 758 (56.7%) |
| Renter Occupied HU | 424 (31.7%) |
| Vacant Housing Units | 154 (11.5%) |
| Median Home Value | $305,785 |
| Average Home Value | $398,186 |
Housing Distribution
Address Breakdown
Residential
960
Single Family
778
Multi-Family
182
Businesses
195
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 1989
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06018, Canaan, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,336 (100%) |
| Owner Occupied HU | 758 (56.7%) |
| Renter Occupied HU | 424 (31.7%) |
| Vacant Housing Units | 154 (11.5%) |
| Median Home Value | $305,785 |
| Average Home Value | $398,186 |
Housing Distribution
Address Breakdown
Residential
960
Single Family
778
Multi-Family
182
Businesses
195
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Wendy Eichman • Raynard & Peirce Realty,LLC
Mls Name: Smart MLS
Mls ID: #24144554