133 Summit Avenue, Unit 40 BLDG 5 #40, Summit, NJ, 07901 | $425/mo Cash Flow

Save Search

Filters Applied

EditEdit Filters

Filters Applied:

Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

Home Type: Single Family

EditEdit Filters

133 Summit Avenue, Unit 40 BLDG 5 #40, Summit, NJ, 07901 | $425/mo Cash Flow | Ziffy

Pending

Ziffy Mortgage

NMLS #2625701

Get Pre-Approved

Nearby investment properties with comparable rents

3 Bed
3 Bath
1795 sft

4 Micali Way, South Plainfield, NJ, 07080

2 Bed
3 Bath
1452 sft

65 Townsend Court #213, Franklin Park, NJ, 08823

2 Bed
3 Bath
- sft

68 Bayberry Dr, Somerset, NJ, 08873

2 Bed
2 Bath
- sft

6 Pond Ct, Hillsborough, NJ, 08844

Nearby investment properties with comparable prices

2 Bed
1 Bath
- sft

9 Hamilton Rd, Gillette, NJ, 07933

3 Bed
2 Bath
- sft

536 E 2Nd St, Plainfield, NJ, 07060

2 Bed
2 Bath
- sft

353 Victoria Drive, Bridgewater, NJ, 08807

2 Bed
1 Bath
1000 sft

169 Alexandria Way, Basking Ridge, NJ, 07920

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

Explore more listings using simple english

Investment Highlights

Investment property for sale in Summit at 133 Summit Avenue, Unit 40 BLDG 5 #40, Summit, NJ, 07901 uses $132,269 cash to close to unlock $5,099/yr annual cash flow and $425/mo monthly cash flow. Total monthly income runs $3,269/mo, and a $1,953/mo payment keeps the spread at $425/mo. Purchase price stands at $399,000, and rental yield measures 9.83% with $3,269/mo rent. Return on cash invested shows 23.76% in year one, and 5% annual appreciation builds toward $110,236 over five years. Five-year ROI reaches 124.73% and total cumulative return in cash records $164,978. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $3,269/mo property income covering a $1,953/mo payment rather than investor’s personal income.

Condo

Built in 1924

1.04 Acres lot

$N/A/sqft

No HOA

More details about the property

Rare first floor unit with garage parking and laundry in the building. Move in ready, recently finished hardwood floors, freshly painted throughout, updated kitchen and bathroom. Recessed lighting, updated electric. Full time Superintendent in same building. Spacious living room overlooking rear grass/patio area. Flex room w/French doors can be dining room or potential second bedroom. Only 5 steps into the unit. Exercise Room, newly renovated laundry room and dedicated storage room in the basement, in the same building. Use staircase by mailbox to access the basement. The monthly HOA fee of $1610.59 includes heat, water/hot water, taxes, building maintenance, 24/7 superintendent, trash, snow removal. See media for co-op information about the application process. 26 shares of Co-op. Co-op board must approve buyer via application process. Buyer must pay working capital contribution of 3 x monthly HOA $4,831.77 for working Capital Contribution at closing. $450 application fee. Buyer must occupy unit for 12 months before being able to rent out, subject to board approval. Up to two pets if less than 50lbs, otherwise just one. Owner is a licensed realtor.

Neighborhood Data

Neighborhood data shown for ZIP Code: 07901, Summit, NJ area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	8,523 (100%)
Owner Occupied HU	5,655 (66.3%)
Renter Occupied HU	2,439 (28.6%)
Vacant Housing Units	429 ( 5.0%)
Median Home Value	$997,958
Average Home Value	$1,178,497