16 Devon CourtSpring LakeNJ07762
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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 Spring Lake at 16 Devon Court, Spring Lake, NJ, 07762 priced at $699,900 converts $5,215/mo rent into after a $3,426/mo obligation. Total monthly income equals $5,215/mo. Return on cash invested prints 19.13% in year one, and rental yield reads 8.94% against a $699,900 entry. Equity gained on principal adds $4,516/yr, while 5% annual appreciation compiles into $193,369 by year five. Five-year ROI reaches 100.61% and total cumulative return in cash sums $231,680. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $5,215/mo property income covering a $3,426/mo payment, not borrower’s personal income.
Condo
Built in 1985
16 Acres lot
$N/A/sqft
$405 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 07762, Spring Lake, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,755 (100%) |
| Owner Occupied HU | 2,831 (49.2%) |
| Renter Occupied HU | 1,406 (24.4%) |
| Vacant Housing Units | 1,518 (26.4%) |
| Median Home Value | $888,913 |
| Average Home Value | $1,183,369 |
Housing Distribution
Address Breakdown
Residential
5,253
Single Family
4,594
Multi-Family
659
Businesses
476
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Listed by: Christine Keating • Christine Keating Realty
Mls Name: MOMLS
Mls Provider:
Mls ID: #22519262
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.