247 Hope AvePassaicNJ07055
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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 Passaic at 247 Hope Ave, Passaic, NJ, 07055 earns from $3,018/mo rent with a $4,160/mo payment. Total monthly income totals $3,018/mo. ROI tracks 7.01% on current figures, and rental yield reads 4.26% at a $849,999 purchase. Equity gained on principal adds $5,485/yr, and 5% annual appreciation supports $234,839 over five years. Five-year ROI reaches 34.9% and total cumulative return in cash sums $97,593. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $3,018/mo property income instead of your personal income.
Multi Family
Built in 2025
9,583 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 07055, Passaic, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 21,898 (100%) |
| Owner Occupied HU | 5,132 (23.4%) |
| Renter Occupied HU | 15,698 (71.7%) |
| Vacant Housing Units | 1,068 ( 4.9%) |
| Median Home Value | $537,015 |
| Average Home Value | $562,836 |
Housing Distribution
Address Breakdown
Residential
20,248
Single Family
13,119
Multi-Family
7,129
Businesses
2,230
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Listed by: Pina Nazario • Coldwell Banker Realty
Mls Name: GSMLS
Mls Provider:
Mls ID: #3984366
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