1224 E 2nd StPlainfieldNJ07062
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeHigh DSCR is a competitive advantage at closing. 1224 E 2nd St, Plainfield, NJ, 07062 in Plainfield achieves 1.51, rent of $4,279/mo covers the $2,833/mo payment 1.5x over at $630,000. Rental yield 8.15%. 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 $174,057 over five years, with $5,802/yr in principal reduction bringing total projected return to $227,828.
| This Property | National Avg | |
|---|---|---|
| Gross Rental Yield | 8.2% | 6.2% |
| Monthly Cash Flow | $(212) | $180 |
National averages based on 2024–2025 U.S. residential rental market data. Content is user-generated and unverified.
DSCR Loan Qualification
| Monthly Rental Income | $4,279 |
| Total Monthly Debt Service | $4,240 |
| DSCR Ratio | 1.01x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, 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.
Multi Family
Built in 1926
0.28 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 07062, Plainfield, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,331 (100%) |
| Owner Occupied HU | 2,813 (52.8%) |
| Renter Occupied HU | 2,167 (40.6%) |
| Vacant Housing Units | 351 ( 6.6%) |
| Median Home Value | $449,784 |
| Average Home Value | $543,400 |
Housing Distribution
Address Breakdown
Residential
5,276
Single Family
4,476
Multi-Family
800
Businesses
221
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
Multi Family
Built in 1926
0.28 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 07062, Plainfield, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,331 (100%) |
| Owner Occupied HU | 2,813 (52.8%) |
| Renter Occupied HU | 2,167 (40.6%) |
| Vacant Housing Units | 351 ( 6.6%) |
| Median Home Value | $449,784 |
| Average Home Value | $543,400 |
Housing Distribution
Address Breakdown
Residential
5,276
Single Family
4,476
Multi-Family
800
Businesses
221
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: N/A • N/A
Mls Name: GSMLS
Mls ID: #4017346