1 Claridge Drive Unit 1016 BLDG 1 #1016VeronaNJ07044
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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 Drive Unit 1016 BLDG 1 #1016, Verona, NJ, 07044 offers a 8.63% rental yield on a $329,000 purchase with $2,366/mo rent. Total monthly income registers $2,366/mo, and a $1,610/mo payment leaves $21/mo available for distribution. Annual cash flow reaches $255/yr on $109,064 to close, and return on cash invested stands at 20.14% in year one. Equity gained on principal adds $2,123/yr while 5% annual appreciation supports $90,897 over five years. Portfolio math shows five-year ROI at 105.36% and total cumulative return in cash at $114,909. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,366/mo property income against a $1,610/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
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: Ann Mccarthy • Prominent Properties Sir
Mls Name: GSMLS
Mls ID: #3985472