1647 N Michigan AveAtlantic CityNJ08401
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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 Atlantic City at 1647 N Michigan Ave, Atlantic City, NJ, 08401 generates $3,000/mo in rent and, after a $1,664/mo payment, leaves $577/mo in cash flow. Total monthly income is $3,000/mo, and annual cash flow is $6,923/yr on $112,677 invested. Return on cash invested sits at 26.05% in year one, and rental yield is 10.59% on a $339,900 entry. Equity gained on principal adds $2,193/yr, while 5% annual appreciation builds toward $93,908 over five years. Five-year ROI reaches 137.02% and total cumulative return in cash sums $154,391. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $3,000/mo property income rather than buyer’s personal income.
Single Family
Built in 1900
4,500 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 08401, Atlantic City, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 20,611 (100%) |
| Owner Occupied HU | 3,813 (18.5%) |
| Renter Occupied HU | 12,388 (60.1%) |
| Vacant Housing Units | 4,410 (21.4%) |
| Median Home Value | $239,437 |
| Average Home Value | $322,912 |
Housing Distribution
Address Breakdown
Residential
18,687
Single Family
11,390
Multi-Family
7,297
Businesses
1,294
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Listed by: Tracey Newmones • EXP Realty, LLC
Mls Name: Bright MLS
Mls ID: #NJAC2021170