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$199,900

Sale Pending
929 N Colony Rd Unit 6, Meriden, CT 06450
2 Beds
2 Baths
1,010 Square Feet
0.00 Acres Lot
Built in 1987
Sale Pending
Units n/a
Checked: 18 hours ago
Updated: Aug 26, 2025 at 10:07AM

Investment Summary


Monthly Cash Flow
$90
Cap Rate
6.2%
Cash-on-Cash Return
2.3%
Debt Coverage Ratio
1.10
Internal Rate of Return (5 years)
6.3%

Property Description


0.00 Acres Lot
Built in 1987
Sale Pending
Units n/a

Dream townhouse*nothing to do but move in*has been totally renovated over the course of this homeowners living here*central air*large living room dining room combo*relax and enjoy the private deck off the kitchen*pet rules 40lbs and under or 18 inches in height and under*washer and dryer stay in laundry room on entry floor*excellent closet storage*

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Location


Property Details


Parking

  • Description: Underground/Basement
  • Details: Off Street, Paved
  • Garage Spaces: 1
  • Spaces Total: 2

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Partial): 1
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 4
  • # of Stories: 2
  • Basement: Yes
  • Basement Description: Full

Exterior Features

  • Exterior Walls Materials: Siding (Alum/Vinyl)
  • Roof Type: Gable

HOA

  • Has HOA: Yes
  • HOA Fee: $275/monthly

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: MERIM:412B:153DL:346
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Style: Townhouse
  • Year Built: 1987

Tax Information

  • Annual Tax: $2,484

Utilities

  • Water & Sewer: Public
  • Heating: Electric, Hot Water
  • Cooling: Central Air

Location

  • County: New Haven

Listing Details


Listed by:
Sandra Schede
Maier Real Estate
(203) 631-7254

Source:
SmartMLS
MLS#: 24050391
SmartMLS

Investment Summary


Monthly Cash Flow
$90
Cap Rate
6.2%
Cash-on-Cash Return
2.3%
Debt Coverage Ratio
1.10
Internal Rate of Return (5 years)
6.3%

Purchase Details

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Purchase price:
$199,900
Amount financed:
-$159,920
Down payment:
$39,980
Closing costs:
$5,997
Rehab costs:
$0
Initial cash invested:
$45,977
Square feet:
1,010
Cost per square foot:
$198
Monthly rent per square foot:
$2.18

Financing Details

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Loan amount:
$159,920
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$946
Property tax:
$207
Insurance:
$154
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,307

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,200 $26,400
Vacancy loss: (6%)
6% -$132 -$1,584
Operating income:
$2,068 $24,816

Operating Expenses


% Rent Monthly Yearly
Property taxes: (9%)
9%-$207-$2,484
Insurance: (7%)
7%-$154-$1,848
Property management: (8%)
8%-$176-$2,112
Repairs & maintenance: (5%)
5%-$110-$1,320
Capital expenditures: (5%)
5%-$110-$1,320
HOA fees: (13%)
13%-$275-$3,300
Total operating expenses: (47%)
47%-$1,032-$12,384

Cash Flow


Monthly Yearly
Net operating income:
$1,036 $12,432
Mortgage payments:
-$946 -$11,352
Cash flow:
$90 $1,080