123 E Cedar AveSomers PointNJ08244
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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 Somers Point at 123 E Cedar Ave, Somers Point, NJ, 08244 generates $7,627/mo in rent and, after a $3,426/mo payment, leaves $2,638/mo in cash flow. Total monthly income is $7,627/mo, and annual cash flow is $31,652/yr on $230,300 invested. Return on cash invested sits at 33.8% in year one, and rental yield is 13.07% on a $700,000 entry. Equity gained on principal adds $4,517/yr, while 5% annual appreciation builds toward $193,397 over five years. Five-year ROI reaches 178.56% and total cumulative return in cash sums $411,220. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $7,627/mo property income rather than buyer’s personal income.
Single Family
Built in N/A
10,000 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 08244, Somers Point, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,679 (100%) |
| Owner Occupied HU | 2,757 (48.5%) |
| Renter Occupied HU | 2,185 (38.5%) |
| Vacant Housing Units | 737 (13.0%) |
| Median Home Value | $345,666 |
| Average Home Value | $439,854 |
Housing Distribution
Address Breakdown
Residential
5,396
Single Family
5,395
Multi-Family
1
Businesses
523
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Listed by: Charles Costello • eREALTY ADVISORS, INC
Mls Name: SJSRMLS
Mls Provider:
Mls ID: #585329
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. 2024 South Jersey Shore Regional Multiple Listing Service. All rights reserved.