23 W Wilmont 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 23 W Wilmont Ave, Somers Point, NJ, 08244 generates $2,154/mo in rent, after a $1,576/mo payment. Total monthly income is $2,154/mo. Return on cash invested sits at 18.32% in year one, and rental yield is 8.03% on a $321,900 entry. Equity gained on principal adds $2,077/yr, while 5% annual appreciation builds toward $88,935 over five years. Five-year ROI reaches 95.61% and total cumulative return in cash sums $102,024. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,154/mo property income rather than buyer’s personal income.
Single Family
Built in 1959
7,500 sqft 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: Cat Portock • RE/MAX Atlantic
Mls Name: Bright MLS
Mls ID: #NJAC2022706