103 Park Ave BLDG D #D4, Summit, NJ, 07901 | Equity Gain $3,872/yr

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103 Park Ave BLDG D #D4, Summit, NJ, 07901 | Equity Gain $3,872/yr | Ziffy

For Sale

Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Rental property for sale in Summit at 103 Park Ave BLDG D #D4, Summit, NJ, 07901 generates $0/mo in rent, after a $2,937/mo payment. Total monthly income is $0/mo. Return on cash invested sits at -5.94% in year one, and rental yield is 0% on a $600,000 entry. Equity gained on principal adds $3,872/yr, while 5% annual appreciation builds toward $165,769 over five years. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $0/mo property income rather than buyer’s personal income.

Townhouse

Built in 1930

N/A lot

$N/A/sqft

No HOA

More details about the property

Huge 2,650 (per tax records) sq ft TH cleverly adapted from gymnasium of former Roosevelt Elementary School in 1983 & with such spacious rooms & additional storage rooms that you have to see it in person in order to appreciate it! Large eat-in Kit, DR with fireplace (fireplace, chimney, flues sold strictly "as is" - no known issues), LR, 1st Flr Bed 3/Study/Den, 1st Flr Laundry, 2 huge 2nd Flr Beds each with private Bath (primary Bath jetted tub non-operational/sold "as is") & spacious storage rooms/areas. Great flexibility of accommodation just blocks from Downtown Summit, trains & buses to NYC, all local amenities & excellent highways to NYC, Newark Liberty Int Airport, Jersey Shore, Philadelphia, Boston & Washington D.C. 1 cat or 1 dog permitted per unit. A very rare buying opportunity and one-of-a kind home. Photos do not do this incredible house and space justice. Ready for updating throughout. Buyer responsible for CO.

Neighborhood Data

Neighborhood data shown for ZIP Code: 07901, Summit, NJ area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	8,523 (100%)
Owner Occupied HU	5,655 (66.3%)
Renter Occupied HU	2,439 (28.6%)
Vacant Housing Units	429 ( 5.0%)
Median Home Value	$997,958
Average Home Value	$1,178,497