18 Springfield Ave BLDG 18 #3-ACranfordNJ07016
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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
Investment property for sale in Cranford at 18 Springfield Ave BLDG 18 #3-A, Cranford, NJ, 07016 uses $144,203 cash to close to unlock $1,530/yr annual cash flow and $128/mo monthly cash flow. Total monthly income runs $3,228/mo, and a $2,129/mo payment keeps the spread at $128/mo. Purchase price stands at $435,000, and rental yield measures 8.9% with $3,228/mo rent. Return on cash invested shows 20.97% in year one, and 5% annual appreciation builds toward $120,182 over five years. Five-year ROI reaches 109.77% and total cumulative return in cash records $158,292. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $3,228/mo property income covering a $2,129/mo payment rather than investor’s personal income.
Condo
Built in 1957
435.60 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 07016, Cranford, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,435 (100%) |
| Owner Occupied HU | 6,913 (73.3%) |
| Renter Occupied HU | 2,147 (22.8%) |
| Vacant Housing Units | 375 ( 4.0%) |
| Median Home Value | $669,813 |
| Average Home Value | $714,383 |
Housing Distribution
Address Breakdown
Residential
9,068
Single Family
7,997
Multi-Family
1,071
Businesses
960
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Listed by: Gloria Centanni • Coldwell Banker Realty
Mls Name: GSMLS
Mls ID: #4003974