249 Summer AveNewarkNJ07104
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThe 8.6% yield at 249 Summer Ave, Newark, NJ, 07104 in Newark is solid, but the $1,709/mo payment compresses net cash flow to $14/mo at $380,000. This is a tight-spread property, income covers debt, with little cushion. For investors who can optimise occupancy, the upside is real: 5% annual appreciation adds $104,987 by year five, and $3,500/yr in loan paydown builds equity. Ziffy Mortgage qualifies this via DSCR (1.59) without U.S. income documentation. Total projected return: $146,586.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.6% | 7.2% |
| Monthly Cash Flow | $14 | $1,250 |
City averages based on Newark market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,723 |
| Total Monthly Debt Service | $2,557 |
| DSCR Ratio | 1.06x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1902
1,742 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 07104, Newark, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 21,503 (100%) |
| Owner Occupied HU | 3,939 (18.3%) |
| Renter Occupied HU | 16,603 (77.2%) |
| Vacant Housing Units | 961 ( 4.5%) |
| Median Home Value | $446,782 |
| Average Home Value | $539,320 |
Housing Distribution
Address Breakdown
Residential
18,051
Single Family
8,845
Multi-Family
9,206
Businesses
1,010
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Single Family
Built in 1902
1,742 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 07104, Newark, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 21,503 (100%) |
| Owner Occupied HU | 3,939 (18.3%) |
| Renter Occupied HU | 16,603 (77.2%) |
| Vacant Housing Units | 961 ( 4.5%) |
| Median Home Value | $446,782 |
| Average Home Value | $539,320 |
Housing Distribution
Address Breakdown
Residential
18,051
Single Family
8,845
Multi-Family
9,206
Businesses
1,010
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: N/A • N/A
Mls Name: GSMLS
Mls ID: #4011523