1351 Illinois AveCape MayNJ08204
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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 Cape May at 1351 Illinois Ave, Cape May, NJ, 08204 generates $2,033/mo in rent, after a $3,573/mo payment. Total monthly income is $2,033/mo. Return on cash invested sits at 4.22% in year one, and rental yield is 3.34% on a $730,000 entry. Equity gained on principal adds $4,711/yr, while 5% annual appreciation builds toward $201,686 over five years. Five-year ROI reaches 19.92% and total cumulative return in cash sums $47,834. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,033/mo property income rather than buyer’s personal income.
Single Family
Built in 1973
2,886 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 08204, Cape May, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,314 (100%) |
| Owner Occupied HU | 5,777 (43.4%) |
| Renter Occupied HU | 1,718 (12.9%) |
| Vacant Housing Units | 5,819 (43.7%) |
| Median Home Value | $575,781 |
| Average Home Value | $665,846 |
Housing Distribution
Address Breakdown
Residential
9,319
Single Family
8,761
Multi-Family
558
Businesses
779
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Listed by: Jackson VonSavage • HOFFMAN AGENCY
Mls Name: CMCAOR
Mls ID: #253195