2 Steele Pl BLDG 2 #202HillsboroughNJ08844
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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 Hillsborough at 2 Steele Pl BLDG 2 #202, Hillsborough, NJ, 08844 uses $115,694 cash to close to unlock $11,887/yr annual cash flow and $991/mo monthly cash flow. Total monthly income runs $3,478/mo, and a $1,708/mo payment keeps the spread at $991/mo. Purchase price stands at $349,000, and rental yield measures 11.96% with $3,478/mo rent. Return on cash invested shows 30.18% in year one, and 5% annual appreciation builds toward $96,422 over five years. Five-year ROI reaches 159.18% and total cumulative return in cash records $184,164. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $3,478/mo property income covering a $1,708/mo payment rather than investor’s personal income.
Condo
Built in 2007
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 08844, Hillsborough, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,763 (100%) |
| Owner Occupied HU | 12,465 (74.4%) |
| Renter Occupied HU | 3,569 (21.3%) |
| Vacant Housing Units | 729 ( 4.3%) |
| Median Home Value | $604,614 |
| Average Home Value | $650,014 |
Housing Distribution
Address Breakdown
Residential
16,156
Single Family
15,751
Multi-Family
405
Businesses
1,281
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Listed by: Charles L. Decker Jr • Era Suburb Realty
Mls Name: GSMLS
Mls ID: #4000351