8 Putnam St #3DanversMA01923
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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 Danvers at 8 Putnam St #3, Danvers, MA, 01923 priced at $400,000 converts $3,175/mo rent into $654/mo cash flow after a $1,958/mo obligation. Total monthly income equals $3,175/mo, and annual cash flow totals $7,844/yr on $132,600 invested. Return on cash invested prints 25.82% in year one, and rental yield reads 9.53% against a $400,000 entry. Equity gained on principal adds $2,581/yr, while 5% annual appreciation compiles into $110,513 by year five. Five-year ROI reaches 134.71% and total cumulative return in cash sums $178,624. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $3,175/mo property income covering a $1,958/mo payment, not borrower’s personal income.
Condo
Built in 1900
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 01923, Danvers, MA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,985 (100%) |
| Owner Occupied HU | 8,185 (68.3%) |
| Renter Occupied HU | 3,242 (27.1%) |
| Vacant Housing Units | 558 ( 4.7%) |
| Median Home Value | $677,909 |
| Average Home Value | $714,250 |
Housing Distribution
Address Breakdown
Residential
11,546
Single Family
8,892
Multi-Family
2,654
Businesses
1,526
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Listed by: Michael Hinchliffe • Today Real Estate, Inc.
Mls Name: MLS PIN
Mls ID: #73400757