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Price: $300K - 500K
Monthly Cash Flow: 1 - 3k+
Home Type: Single Family
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No similar rental properties found nearby.
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
Rental property for sale in Summit at 11 Lafayette Ave, Summit, NJ, 07901 generates $0/mo in rent, after a $6,240/mo payment. Total monthly income is $0/mo. Return on cash invested sits at -6.03% in year one, and rental yield is 0% on a $1,275,000 entry. Equity gained on principal adds $8,227/yr, while 5% annual appreciation builds toward $352,259 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.
Multi Family
Built in 1923
8,712 sqft lot
$N/A/sqft
No HOA
Neighborhood data shown for ZIP Code: 07901, Summit, NJ area.
| 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 |
Residential
8,706
Single Family
8,027
Multi-Family
679
Businesses
870
Date | Event | Price |
|---|---|---|
| 2015-07-05 | Listing removed | $1,699 |
| 2015-06-22 | Price change | $1,699 |
| 2015-06-11 | Price change | $1,650 |
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2024-04-04 | $11430.14 | 0.67% | $262,400 | N/A |
| 2023-04-04 | $11354.05 | 1.03% | $262,400 | N/A |
| 2022-04-04 | $11238.59 | -0.79% | $262,400 | N/A |
No similar rental properties found nearby.
Listed by: Robert B Oquist • Re/Max Achievers
Mls Name: GSMLS
Mls Provider:
Mls ID: #3954777
Disclaimer: The data relating to real estate for sale on this website comes in part from the IDX Program of Garden State Multiple Listing Service, L.L.C. Real estate listings held by other brokerage firms are marked as IDX Listing. Information deemed reliable but not guaranteed. Copyright 2025 Garden State Multiple Listing Service, L.L.C. All rights reserved. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.
