124 E Groveland 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 124 E Groveland Ave, Somers Point, NJ, 08244 priced at $475,000 pairs $2,947/mo rent with after a $2,325/mo payment. Total monthly income equals $2,947/mo. Return on cash invested is 16.56% in year one, and rental yield stands at 7.45% on a $475,000 basis. Equity gained on principal adds $3,065/yr, and 5% annual appreciation accumulates to $131,234 by year five. Five-year ROI measures 86.16% and total cumulative return in cash reaches $135,667. For financing, Ziffy Mortgage’s DSCR program evaluates $2,947/mo property income against a $2,325/mo payment instead of your W2s, 1099s, or Tax returns.
Multi Family
Built in N/A
8,225 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: Paula Hartman • BHHS FOX and ROACH-Margate
Mls Name: SJSRMLS
Mls Provider:
Mls ID: #590015
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.