188 Aspen Dr, Cedar Grove, NJ, 07009 | 6.31% Rental Yield

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188 Aspen Dr, Cedar Grove, NJ, 07009 | 6.31% Rental Yield | Ziffy

Pending

Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Rental property for sale in Cedar Grove at 188 Aspen Dr, Cedar Grove, NJ, 07009 generates $3,840/mo in rent, after a $3,573/mo payment. Total monthly income is $3,840/mo. Return on cash invested sits at 13.25% in year one, and rental yield is 6.31% on a $729,999 entry. Equity gained on principal adds $4,711/yr, while 5% annual appreciation builds toward $201,685 over five years. Five-year ROI reaches 68.33% and total cumulative return in cash sums $164,102. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $3,840/mo property income rather than buyer’s personal income.

Townhouse

Built in 2019

48.26 Acres lot

$N/A/sqft

No HOA

More details about the property

Prepare to be captivated by this designer's dream an END-unit 2-bedroom, 3-bath condo brimming with upgrades and style at every turn. A welcoming foyer opens to a stunning eat-in kitchen with a granite island seating four, GE Profile stainless steel appliances, custom hardware and lighting, plus a pantry with bar area. The first-floor full bath dazzles with designer touches, while the spacious living room with gas fireplace flows to an extended private patio and open side yard no homes behind for added privacy! A gracious dining area completes the light-filled main level. Upstairs, the primary suite is a retreat with a spa-like en suite featuring double sinks, a walk-in closet, and serene rear views. Laundry is conveniently on the same level. Additional highlights include a meticulous 1-car garage with abundant storage and overhead shelving. The vibrant community offers a clubhouse with kitchen and party space, infinity pool, barbecue/picnic areas, and direct access to miles of trails in Hilltop Reservation. All this just minutes to Montclair, with a free Hilltop commuter shuttle, Cedar Grove Park across the street, and the community center next door.

Neighborhood Data

Neighborhood data shown for ZIP Code: 07009, Cedar Grove, NJ area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	5,456 (100%)
Owner Occupied HU	4,232 (77.6%)
Renter Occupied HU	906 (16.6%)
Vacant Housing Units	318 ( 5.8%)
Median Home Value	$649,113
Average Home Value	$719,298