261 Lake StNewarkNJ07104
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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 Newark at 261 Lake St, Newark, NJ, 07104 offers $3,122/mo rent that, after a $2,814/mo payment. Total monthly income is $3,122/mo. Return on cash invested measures 13.87% in year one, and rental yield stands at 6.52% at a $575,000 entry. Equity gained on principal adds $3,710/yr while 5% annual appreciation compounds into $158,862 by year five. Five-year ROI records 71.65% and total cumulative return in cash reaches $135,539. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $3,122/mo property income versus a $2,814/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Multi Family
Built in 2012
2,178 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
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Listed by: Taj Hairston • Weichert Realtors
Mls Name: GSMLS
Mls ID: #3977750