1 Claridge Dr #723VeronaNJ07044
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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 Verona at 1 Claridge Dr #723, Verona, NJ, 07044 uses $128,954 cash to close to unlock $8,607/yr annual cash flow and $717/mo monthly cash flow. Total monthly income runs $3,490/mo, and a $1,904/mo payment keeps the spread at $717/mo. Purchase price stands at $389,000, and rental yield measures 10.77% with $3,490/mo rent. Return on cash invested shows 26.58% in year one, and 5% annual appreciation builds toward $107,474 over five years. Five-year ROI reaches 139.89% and total cumulative return in cash records $180,390. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $3,490/mo property income covering a $1,904/mo payment rather than investor’s personal income.
Condo
Built in 1965
0.30 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 07044, Verona, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,360 (100%) |
| Owner Occupied HU | 4,671 (73.4%) |
| Renter Occupied HU | 1,443 (22.7%) |
| Vacant Housing Units | 246 ( 3.9%) |
| Median Home Value | $658,491 |
| Average Home Value | $741,076 |
Housing Distribution
Address Breakdown
Residential
5,943
Single Family
4,342
Multi-Family
1,601
Businesses
469
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Listed by: Joell Federico • Coldwell Banker Realty
Mls Name: GSMLS
Mls ID: #3987759