242 N Broad StPenns GroveNJ08069
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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 Penns Grove at 242 N Broad St, Penns Grove, NJ, 08069 generates $1,598/mo in rent, after a $1,150/mo payment. Total monthly income is $1,598/mo. Return on cash invested sits at 18.73% in year one, and rental yield is 8.16% on a $235,000 entry. Equity gained on principal adds $1,516/yr, while 5% annual appreciation builds toward $64,926 over five years. Five-year ROI reaches 97.79% and total cumulative return in cash sums $76,180. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,598/mo property income rather than buyer’s personal income.
Single Family
Built in 1948
7,902 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 08069, Penns Grove, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,061 (100%) |
| Owner Occupied HU | 3,079 (50.8%) |
| Renter Occupied HU | 2,317 (38.2%) |
| Vacant Housing Units | 665 (11.0%) |
| Median Home Value | $209,820 |
| Average Home Value | $314,811 |
Housing Distribution
Address Breakdown
Residential
5,212
Single Family
4,783
Multi-Family
429
Businesses
292
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Listed by: Trish Applegate • EXP Realty, LLC
Mls Name: Bright MLS
Mls ID: #NJSA2017546