983 Riverside DriveNorth GrosvenordaleCT06255
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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
Investment property for sale in North Grosvenordale at 983 Riverside Drive, North Grosvenordale, CT, 06255 uses $99,417 cash to close to unlock $950/yr annual cash flow and $79/mo monthly cash flow. Total monthly income runs $2,117/mo, and a $1,468/mo payment keeps the spread at $79/mo. Purchase price stands at $299,900, and rental yield measures 8.47% with $2,117/mo rent. Return on cash invested shows 20.86% in year one, and 5% annual appreciation builds toward $82,857 over five years. Five-year ROI reaches 108.79% and total cumulative return in cash records $108,160. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,117/mo property income covering a $1,468/mo payment rather than investor’s personal income.
Multi Family
Built in 1889
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 06255, North Grosvenordale, CT area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,220 (100%) |
| Owner Occupied HU | 1,584 (71.4%) |
| Renter Occupied HU | 510 (23.0%) |
| Vacant Housing Units | 126 ( 5.7%) |
| Median Home Value | $371,078 |
| Average Home Value | $471,676 |
Housing Distribution
Address Breakdown
Residential
1,490
Single Family
1,462
Multi-Family
28
Businesses
77
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Listed by: Alexis Devlin • Coldwell Banker Realty
Mls Name: Smart MLS
Mls ID: #24095430