242 Park AveBerkeley HeightsNJ07922
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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 Berkeley Heights at 242 Park Ave, Berkeley Heights, NJ, 07922 generates $5,341/mo in rent, after a $3,817/mo payment. Total monthly income is $5,341/mo. Return on cash invested sits at 19.04% in year one, and rental yield is 8.22% on a $779,900 entry. Equity gained on principal adds $5,033/yr, while 5% annual appreciation builds toward $215,472 over five years. Five-year ROI reaches 99.41% and total cumulative return in cash sums $255,069. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $5,341/mo property income rather than buyer’s personal income.
Single Family
Built in 1960
7,840 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 07922, Berkeley Heights, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,805 (100%) |
| Owner Occupied HU | 3,915 (81.5%) |
| Renter Occupied HU | 550 (11.4%) |
| Vacant Housing Units | 340 ( 7.1%) |
| Median Home Value | $777,472 |
| Average Home Value | $844,385 |
Housing Distribution
Address Breakdown
Residential
4,667
Single Family
4,667
Multi-Family
0
Businesses
442
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Listed by: Yesenia Alcivar • Signature Realty Nj
Mls Name: GSMLS
Mls Provider:
Mls ID: #3967327
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