202 Steelman AveSomers PointNJ08244
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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 Somers Point at 202 Steelman Ave, Somers Point, NJ, 08244 generates $2,297/mo in rent, after a $1,590/mo payment. Total monthly income is $2,297/mo. Return on cash invested sits at 19.7% in year one, and rental yield is 8.48% on a $324,900 entry. Equity gained on principal adds $2,097/yr, while 5% annual appreciation builds toward $89,764 over five years. Five-year ROI reaches 102.99% and total cumulative return in cash sums $110,921. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,297/mo property income rather than buyer’s personal income.
Single Family
Built in N/A
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 08244, Somers Point, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,679 (100%) |
| Owner Occupied HU | 2,757 (48.5%) |
| Renter Occupied HU | 2,185 (38.5%) |
| Vacant Housing Units | 737 (13.0%) |
| Median Home Value | $345,666 |
| Average Home Value | $439,854 |
Housing Distribution
Address Breakdown
Residential
5,396
Single Family
5,395
Multi-Family
1
Businesses
523
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Listed by: Jeffrey Quintin • eXp Realty - Ocean City S382K
Mls Name: SJSRMLS
Mls Provider:
Mls ID: #596511
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. 2025 South Jersey Shore Regional Multiple Listing Service. All rights reserved.