Architectural Gem Near Downtown

3 20

$67,570 NOI	1.96 DSCR	11% Cap	41% ROI

NOI

$67,570

DSCR

1.96

Cap

11%

ROI

41%

$595,000

Architectural Gem Near Downtown

221 Broadway, Norwich, CT

4 Family . $148,750/unit

$595,000

Anthony Velez

VC Property Group

REB.0795536

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Est. $4,557 /mo

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Description Income Loan Terms

$45,670 NOI	1.32 DSCR	8% Cap	7% ROI

% Proforma : % Proforma 77%	Parking Off Street
Property Type Type 4 Family	Heating Natural Gas
Buildings 1	Hot Water Natural Gas
Parcel(s) 1	Sewer Public
Year Built 1909	Water Public
Occupancy Occ. 100%	Trash City Pick-up
Sqft 5362 sqft	Utility Split Tenant Paid
Lot Size 11000 acres	Sprinklers No

Highlights

Beautiful Property with 2 Car Garage
Off Street Parking
Tenant Paid Utilities
Double Digit Returns

Welcome to this beautiful architectural gem near Downtown, in one of the most desired neighborhoods in New London County. The property consists four 2 Bedroom units that are rented very well, but still has strong upside. There is a detached 2 car garage, and a large parking lot with more than enough parking for all tenants. All utilities are tenant paid, and property is fully occupied.

$45,670 NOI	1.32 DSCR	8% Cap	7% ROI

Rental Income	Current	Proforma
1 3 Bed, 1 Bath	1,675	$
2 3 Bed, 1 Bath	1,600	$
3 2 Bed, 1 Bath	1,600	$
4 2 Bed, 1 Bath	1,300	$
Total	$6,175	$8000
Operating Expenses Annualized
Property Taxes	$15,330	$
Insuarance	$4,800	$
HOA	$0	$
Electic	$0	$
Heating	$0	$
Water/Sewer	$2,400	$
Trash	$0	$
Vacancy	$1,300	$
Maintenance	$2,300	$
Management	$2,300	$
Other	$0	$
Total	$ 28,430	$ 28,430

	Current	Proforma
Sale Price	$595,000	$
Loan Term	30
Rate	6.7%	%
LTV	75	%
P&I	$2,880	$2,880


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VC Property Group

Product Description

Location

Property Snapshot

77% Proforma

Property Type

4 Family

Building(s)

Sqft

5362 sqft

Parcel(s)

Lot Size

11000 acres

Year Built

1909

Property Description

Property Features

Utilities & Systems

Heating

Natural Gas

Hot Water

Natural Gas

Water

Public

Sewer

Public

Trash

City Pick-up

Electric

Site Amenities

Parking

Off Street

Unit Amenities

N/A

Residential Income

Current vs Proforma

3 Bed, 1 Bath

$1,675

3 Bed, 1 Bath

$1,600

2 Bed, 1 Bath

$1,600

2 Bed, 1 Bath

$1,300

Monthly

$6,175

$8,000

Annual

$74,100

$96,000

Operating Expenses

Annualized

Property Taxes

$15,330

Insurance

$4,800

HOA

Electric

Heating

Water / Sewer

$2,400

Trash

Vacancy

$1,300

Maintenance

$2,300

Management

$2,300

Others

Total Expenses

$28,430

Loan Terms

Scenario Builder

Sale Price

$595,000

Loan Term

Rate

6.7%

LTV

75%

P&I

$2,880

Request loan quote from VC Property Group.

Anthony Velez

VC Property Group

Anthony Velez

VC Property Group

REB.0795536

Call

Anthony Velez

VC Property Group

Architectural Gem Near Downtown

Product Description

Loan Matcher