742 W Main StNew CastleCO81647
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayYield and appreciation often trade off, and at 742 W Main St, New Castle, CO, 81647 in New Castle the bet is firmly on appreciation. Rental yield 3.16%. The 3.16% gross yield on a $629,000 price is below income-first thresholds, but 5%/yr value growth projects $173,781 in equity by year five. Ziffy Mortgage's non-U.S. DSCR mortgage (0.59) finances the acquisition on rental income alone. A larger down payment (30–35%) reduces monthly debt service and tightens the spread. Total projected cumulative return: $108,339.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 3.2% | 6.0% |
| Monthly Cash Flow | $(2,007) | $300 |
City averages based on New Castle market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,658 |
| Total Monthly Debt Service | $3,415 |
| DSCR Ratio | 0.49x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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.
Single Family
Built in 1893
2,613 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 81647, New Castle, CO area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,938 (100%) |
| Owner Occupied HU | 2,067 (70.4%) |
| Renter Occupied HU | 744 (25.3%) |
| Vacant Housing Units | 127 ( 4.3%) |
| Median Home Value | $520,562 |
| Average Home Value | $531,715 |
Housing Distribution
Address Breakdown
Residential
2,696
Single Family
2,696
Multi-Family
0
Businesses
234
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
Single Family
Built in 1893
2,613 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 81647, New Castle, CO area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,938 (100%) |
| Owner Occupied HU | 2,067 (70.4%) |
| Renter Occupied HU | 744 (25.3%) |
| Vacant Housing Units | 127 ( 4.3%) |
| Median Home Value | $520,562 |
| Average Home Value | $531,715 |
Housing Distribution
Address Breakdown
Residential
2,696
Single Family
2,696
Multi-Family
0
Businesses
234
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Meggin Annie Rouse • The Property Shop
Mls Name: AGSMLS
Mls ID: #187530
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.