23 S Washington Ave UNIT 2AMargate CityNJ08402
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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 Margate City at 23 S Washington Ave UNIT 2A, Margate City, NJ, 08402 generates $3,052/mo in rent, after a $5,869/mo payment. Total monthly income is $3,052/mo. Return on cash invested sits at 3.4% in year one, and rental yield is 3.05% on a $1,199,000 entry. Equity gained on principal adds $7,737/yr, while 5% annual appreciation builds toward $331,262 over five years. Five-year ROI reaches 15.46% and total cumulative return in cash sums $60,069. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $3,052/mo property income rather than buyer’s personal income.
Condo
Built in N/A
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 08402, Margate City, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,128 (100%) |
| Owner Occupied HU | 2,137 (30.0%) |
| Renter Occupied HU | 564 ( 7.9%) |
| Vacant Housing Units | 4,427 (62.1%) |
| Median Home Value | $680,658 |
| Average Home Value | $823,466 |
Housing Distribution
Address Breakdown
Residential
6,339
Single Family
5,112
Multi-Family
1,227
Businesses
256
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Listed by: LINDA NOVELLI • Compass Real Estate-Margate
Mls Name: SJSRMLS
Mls ID: #600061