1160 Summit Ave #2Jersey CityNJ07307
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderHigh DSCR is a competitive advantage at closing. 1160 Summit Ave #2, Jersey City, NJ, 07307 in Jersey City achieves 1.53, rent of $3,774/mo covers the $2,464/mo payment 1.5x over at $548,000. Rental yield 7.65%. That makes it both an efficient operational hold and a straightforward underwrite for Ziffy Mortgage's DSCR program. No domestic credit history or income documentation required. Appreciation at 5%/yr adds $151,402 over five years, with $5,047/yr in principal reduction bringing total projected return to $174,585.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 7.7% | 5.1% |
| Monthly Cash Flow | $(863) | $1,850 |
City averages based on Jersey City market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,774 |
| Total Monthly Debt Service | $4,138 |
| DSCR Ratio | 0.91x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in N/A
N/A lot
$N/A/sqft
$450 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 07307, Jersey City, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,616 (100%) |
| Owner Occupied HU | 5,040 (27.1%) |
| Renter Occupied HU | 11,915 (64.0%) |
| Vacant Housing Units | 1,661 ( 8.9%) |
| Median Home Value | $675,535 |
| Average Home Value | $688,876 |
Housing Distribution
Address Breakdown
Residential
16,091
Single Family
8,649
Multi-Family
7,442
Businesses
832
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Condo
Built in N/A
N/A lot
$N/A/sqft
$450 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 07307, Jersey City, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,616 (100%) |
| Owner Occupied HU | 5,040 (27.1%) |
| Renter Occupied HU | 11,915 (64.0%) |
| Vacant Housing Units | 1,661 ( 8.9%) |
| Median Home Value | $675,535 |
| Average Home Value | $688,876 |
Housing Distribution
Address Breakdown
Residential
16,091
Single Family
8,649
Multi-Family
7,442
Businesses
832
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Jason Kratochvil • LIBERTY REALTY LLC
Mls Name: HCMLS
Mls ID: #250011533
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.