231 Griffith St #3GRJersey CityNJ07307
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeTight but positive: 231 Griffith St #3GR, Jersey City, NJ, 07307 in Jersey City at $350,000 earns $2,555/mo in rent and nets $60/mo after the $1,574/mo payment, a 8.76% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $96,699 over five years. Ziffy Mortgage underwrites this on a 1.62 DSCR without U.S. credit history. With $3,224/yr in principal paydown, total projected return reaches $138,043.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.8% | 5.1% |
| Monthly Cash Flow | $60 | $1,850 |
City averages based on Jersey City market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,555 |
| Total Monthly Debt Service | $2,355 |
| DSCR Ratio | 1.08x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, 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.
Condo
Built in N/A
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 07307, Jersey City, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,616 (100%) |
| Owner Occupied HU | 5,040 (27.1%) |
| Renter Occupied HU | 11,915 (64.0%) |
| Vacant Housing Units | 1,661 ( 8.9%) |
| Median Home Value | $675,535 |
| Average Home Value | $688,876 |
Housing Distribution
Address Breakdown
Residential
16,091
Single Family
8,649
Multi-Family
7,442
Businesses
832
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
Condo
Built in N/A
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 07307, Jersey City, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,616 (100%) |
| Owner Occupied HU | 5,040 (27.1%) |
| Renter Occupied HU | 11,915 (64.0%) |
| Vacant Housing Units | 1,661 ( 8.9%) |
| Median Home Value | $675,535 |
| Average Home Value | $688,876 |
Housing Distribution
Address Breakdown
Residential
16,091
Single Family
8,649
Multi-Family
7,442
Businesses
832
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: MARIE GOMER • COMPASS NEW JERSEY, LLC
Mls Name: HCMLS
Mls ID: #250018767