23 Greate Bay Dr Unit 23Somers PointNJ08244
INVESTMENT ANALYSIS
Investment Verdict
Income-ProducingSteady, low-maintenance, and fundable: 23 Greate Bay Dr Unit 23, Somers Point, NJ, 08244 in Somers Point at $549,900. Rental yield 6.17%. The 6.17% yield and 1.14 DSCR put this right in the range Ziffy Mortgage approves for non-U.S. investors without W-2s or domestic credit. Appreciation at 5%/yr is projected to add $151,927 by year five, and $5,065/yr in principal reduction steadily grows the investor's stake. Total projected cumulative return: $140,421.
| This Property | National Avg | |
|---|---|---|
| Gross Rental Yield | 6.2% | 6.2% |
| Monthly Cash Flow | $(1,092) | $180 |
National averages based on 2024–2025 U.S. residential rental market data. Content is user-generated and unverified.
DSCR Loan Qualification
| Monthly Rental Income | $2,827 |
| Total Monthly Debt Service | $3,701 |
| DSCR Ratio | 0.76x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Townhouse
Built in 1977
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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Townhouse
Built in 1977
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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: AMY SULLIVAN • RE/MAX ATLANTIC
Mls Name: SJSRMLS
Mls ID: #604656