120 Sherwood Ave 102 BLDG 120 #102PatersonNJ07502
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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
Rental property for sale in Paterson at 120 Sherwood Ave 102 BLDG 120 #102, Paterson, NJ, 07502 generates $1,200/mo in rent, after a $1,126/mo payment. Total monthly income is $1,200/mo. Return on cash invested sits at 7.39% in year one, and rental yield is 6.26% on a $229,999 entry. Equity gained on principal adds $1,484/yr, while 5% annual appreciation builds toward $63,544 over five years. Five-year ROI reaches 38.98% and total cumulative return in cash sums $29,718. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,200/mo property income rather than buyer’s personal income.
Condo
Built in 1987
4,791 sqft lot
$N/A/sqft
$356 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 07502, Paterson, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,227 (100%) |
| Owner Occupied HU | 2,440 (46.7%) |
| Renter Occupied HU | 2,645 (50.6%) |
| Vacant Housing Units | 142 ( 2.7%) |
| Median Home Value | $399,692 |
| Average Home Value | $450,263 |
Housing Distribution
Address Breakdown
Residential
4,235
Single Family
4,182
Multi-Family
53
Businesses
198
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Listed by: Spero Kalyoussef • Keller Williams Team Realty
Mls Name: GSMLS
Mls Provider:
Mls ID: #3967047
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