217 Prospect Ave BLDG 2 #1BCranfordNJ07016
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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 217 Prospect Ave BLDG 2 #1B, Cranford, NJ, 07016 listed at $435,000 pairs $3,566/mo rent with a $2,129/mo payment to leave $466/mo cash flow. Total monthly income runs $3,566/mo, and annual cash flow reaches $5,586/yr on $144,203 cash to close. Return on cash invested measures 23.78% in year one, and rental yield registers 9.84% at a $435,000 basis. Equity gained on principal adds $2,807/yr, and annual property appreciation at 5% supports $120,182 by year five. Five-year ROI tracks 124.86% and total cumulative return in cash totals $180,048. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $3,566/mo property income relative to a $2,129/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Condo
Built in 1940
1,306 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: Christine Cura • Coldwell Banker Realty
Mls Name: GSMLS
Mls ID: #4000559