8 Fernview Ave APT 5North AndoverMA01845
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThe headline number at 8 Fernview Ave APT 5, North Andover, MA, 01845 in North Andover is the 1.66 coverage ratio: rent of $2,600/mo versus a $1,569/mo debt payment on a $349,000 property. Rental yield 8.94%. That margin is what gives Ziffy Mortgage's DSCR loan the coverage it needs for a clean, fast approval, no W-2s, no U.S. residency. Appreciation at 5%/yr projects $96,422 by year five, with $3,214/yr in equity from paydown. Total projected cumulative return: $158,318.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.9% | 5.5% |
| Monthly Cash Flow | $(86) | $350 |
City averages based on North Andover market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,600 |
| Total Monthly Debt Service | $2,061 |
| DSCR Ratio | 1.26x |
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 1967
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 01845, North Andover, MA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,358 (100%) |
| Owner Occupied HU | 8,307 (67.2%) |
| Renter Occupied HU | 3,501 (28.3%) |
| Vacant Housing Units | 550 ( 4.5%) |
| Median Home Value | $773,736 |
| Average Home Value | $807,808 |
Housing Distribution
Address Breakdown
Residential
12,197
Single Family
8,665
Multi-Family
3,532
Businesses
1,177
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 1967
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 01845, North Andover, MA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,358 (100%) |
| Owner Occupied HU | 8,307 (67.2%) |
| Renter Occupied HU | 3,501 (28.3%) |
| Vacant Housing Units | 550 ( 4.5%) |
| Median Home Value | $773,736 |
| Average Home Value | $807,808 |
Housing Distribution
Address Breakdown
Residential
12,197
Single Family
8,665
Multi-Family
3,532
Businesses
1,177
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: N/A • N/A
Mls Name: MLS PIN
Mls ID: #73485843