242 Midland AveKearnyNJ07032
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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
Investment property for sale in Kearny at 242 Midland Ave, Kearny, NJ, 07032 offers a 11.4% rental yield on a $600,000 purchase with $5,700/mo rent. Total monthly income registers $5,700/mo, and a $2,937/mo payment leaves $1,423/mo available for distribution. Annual cash flow reaches $17,076/yr on $197,400 to close, and return on cash invested stands at 28.71% in year one. Equity gained on principal adds $3,872/yr while 5% annual appreciation supports $165,769 over five years. Portfolio math shows five-year ROI at 151.24% and total cumulative return in cash at $298,548. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $5,700/mo property income against a $2,937/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1890
44.49 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 07032, Kearny, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,485 (100%) |
| Owner Occupied HU | 6,112 (39.5%) |
| Renter Occupied HU | 8,682 (56.1%) |
| Vacant Housing Units | 691 ( 4.5%) |
| Median Home Value | $501,789 |
| Average Home Value | $550,777 |
Housing Distribution
Address Breakdown
Residential
13,214
Single Family
9,548
Multi-Family
3,666
Businesses
1,303
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Listed by: Hernan Castro • The Real Estate Company
Mls Name: GSMLS
Mls ID: #4007333