251 Chestnut StSalemNJ08079
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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 Salem at 251 Chestnut St, Salem, NJ, 08079 offers $1,475/mo rent that, after a $1,023/mo payment. Total monthly income is $1,475/mo. Return on cash invested measures 19.65% in year one, and rental yield stands at 8.47% at a $209,000 entry. Equity gained on principal adds $1,349/yr while 5% annual appreciation compounds into $57,743 by year five. Five-year ROI records 102.76% and total cumulative return in cash reaches $71,198. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,475/mo property income versus a $1,023/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1983
8,385 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 08079, Salem, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,126 (100%) |
| Owner Occupied HU | 2,600 (50.7%) |
| Renter Occupied HU | 1,885 (36.8%) |
| Vacant Housing Units | 641 (12.5%) |
| Median Home Value | $260,543 |
| Average Home Value | $350,401 |
Housing Distribution
Address Breakdown
Residential
4,262
Single Family
4,090
Multi-Family
172
Businesses
308
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Listed by: Amy Sheldon • EXP Realty, LLC
Mls Name: Bright MLS
Mls ID: #NJSA2016744