8 Summer St #103GloucesterMA01930
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
Investment Highlights
Rental property for sale in Gloucester at 8 Summer St #103, Gloucester, MA, 01930 generates $3,416/mo in rent and, after a $2,275/mo payment, leaves $486/mo in cash flow. Total monthly income is $3,416/mo, and annual cash flow is $5,835/yr on $154,114 invested. Return on cash invested sits at 23.7% in year one, and rental yield is 8.82% on a $464,900 entry. Equity gained on principal adds $3,000/yr, while 5% annual appreciation builds toward $128,443 over five years. Five-year ROI reaches 123.31% and total cumulative return in cash sums $190,036. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $3,416/mo property income rather than buyer’s personal income.
Condo
Built in 1900
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 01930, Gloucester, MA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,315 (100%) |
| Owner Occupied HU | 8,361 (54.6%) |
| Renter Occupied HU | 5,133 (33.5%) |
| Vacant Housing Units | 1,821 (11.9%) |
| Median Home Value | $750,301 |
| Average Home Value | $875,713 |
Housing Distribution
Address Breakdown
Residential
14,283
Single Family
13,392
Multi-Family
891
Businesses
1,243
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Stephanie Jones • Leading Edge Real Estate
Mls Name: MLS PIN
Mls ID: #73425109