240 Wayne AveRiver EdgeNJ07661
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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 River Edge at 240 Wayne Ave, River Edge, NJ, 07661 generates $3,538/mo in rent, after a $3,402/mo payment. Total monthly income is $3,538/mo. Return on cash invested sits at 12.63% in year one, and rental yield is 6.11% on a $695,000 entry. Equity gained on principal adds $4,485/yr, while 5% annual appreciation builds toward $192,016 over five years. Five-year ROI reaches 65.01% and total cumulative return in cash sums $148,638. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $3,538/mo property income rather than buyer’s personal income.
Single Family
Built in 1950
8,100 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 07661, River Edge, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,245 (100%) |
| Owner Occupied HU | 3,066 (72.2%) |
| Renter Occupied HU | 1,056 (24.9%) |
| Vacant Housing Units | 123 ( 2.9%) |
| Median Home Value | $674,578 |
| Average Home Value | $722,772 |
Housing Distribution
Address Breakdown
Residential
4,279
Single Family
3,871
Multi-Family
408
Businesses
328
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Listed by: Laura Gill • Keller Williams Village Square
Mls Name: GSMLS
Mls Provider:
Mls ID: #3955830
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