23 Locust WaySpring LakeNJ07762
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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
Investment Highlights
Rental property for sale in Spring Lake at 23 Locust Way, Spring Lake, NJ, 07762 priced at $849,900 pairs $4,458/mo rent with after a $4,160/mo payment. Total monthly income equals $4,458/mo. Return on cash invested is 13.19% in year one, and rental yield stands at 6.29% on a $849,900 basis. Equity gained on principal adds $5,484/yr, and 5% annual appreciation accumulates to $234,812 by year five. Five-year ROI measures 68.04% and total cumulative return in cash reaches $190,238. For financing, Ziffy Mortgage’s DSCR program evaluates $4,458/mo property income against a $4,160/mo payment instead of your W2s, 1099s, or Tax returns.
Condo
Built in 1978
1,306 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 07762, Spring Lake, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,755 (100%) |
| Owner Occupied HU | 2,831 (49.2%) |
| Renter Occupied HU | 1,406 (24.4%) |
| Vacant Housing Units | 1,518 (26.4%) |
| Median Home Value | $888,913 |
| Average Home Value | $1,183,369 |
Housing Distribution
Address Breakdown
Residential
5,253
Single Family
4,594
Multi-Family
659
Businesses
476
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Listed by: Christopher Alino • M. Van Sciver REALTORS
Mls Name: MoreMLS
Mls ID: #22537075