1513 New Jersey Ave APT 1Cape 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 1513 New Jersey Ave APT 1, Cape May, NJ, 08204 generates $2,695/mo in rent, after a $2,474/mo payment. Total monthly income is $2,695/mo. Return on cash invested sits at 11.01% in year one, and rental yield is 6.4% on a $505,500 entry. Equity gained on principal adds $3,262/yr, while 5% annual appreciation builds toward $139,660 over five years. Five-year ROI reaches 57.24% and total cumulative return in cash sums $95,191. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,695/mo property income rather than buyer’s personal income.
Condo
Built in 1950
N/A lot
$N/A/sqft
$347 monthly 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: Stacy Hutchinson • deSatnick Real Estate LLC - Cape May
Mls Name: CMCAOR
Mls Provider:
Mls ID: #251168
Disclaimer: Broker Reciprocity: The data relating to real estate for sale or rent on this web site comes in part from the Broker Reciprocity program of the Cape May County Multiple Listing Service. Real estate listings held by brokerage firms other than Zillow, Inc are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo and detailed information about them includes the name of the listing brokers. This information is deemed reliable but not guaranteed. Representations as subject to verification by inspection and subject to change without notice. Some properties which appear for sale or rent on this website may no longer be available because they are under contract, have sold, or are no longer being offered for sale or rent. Information is deemed to be accurate but not guaranteed.