85 Elmwood DriveMeridenCT06450
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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 Meriden at 85 Elmwood Drive, Meriden, CT, 06450 priced at $449,900 converts $3,853/mo rent into $796/mo cash flow after a $2,202/mo obligation. Total monthly income equals $3,853/mo, and annual cash flow totals $9,554/yr on $149,142 invested. Return on cash invested prints 26.32% in year one, and rental yield reads 10.28% against a $449,900 entry. Equity gained on principal adds $2,903/yr, while 5% annual appreciation compiles into $124,299 by year five. Five-year ROI reaches 138% and total cumulative return in cash sums $205,822. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $3,853/mo property income covering a $2,202/mo payment, not borrower’s personal income.
Single Family
Built in 1960
0.46 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06450, Meriden, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,548 (100%) |
| Owner Occupied HU | 8,633 (55.5%) |
| Renter Occupied HU | 5,916 (38.0%) |
| Vacant Housing Units | 999 ( 6.4%) |
| Median Home Value | $273,744 |
| Average Home Value | $352,363 |
Housing Distribution
Address Breakdown
Residential
14,312
Single Family
12,493
Multi-Family
1,819
Businesses
1,173
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Listed by: Joe R. Snell • Luxe Realty LLC
Mls Name: Smart MLS
Mls ID: #24140033