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Price: $300K - 500K
Monthly Cash Flow: 1 - 3k+
Home Type: Single Family
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A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
Rental property for sale in Somerset at 294 Michael J Smith Ct, Somerset, NJ, 08873 offers $3,452/mo rent that, after a $2,203/mo payment. Total monthly income is $3,452/mo. Return on cash invested measures 19.74% in year one, and rental yield stands at 9.21% at a $450,000 entry. Equity gained on principal adds $2,904/yr while 5% annual appreciation compounds into $124,327 by year five. Five-year ROI records 103.93% and total cumulative return in cash reaches $155,034. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $3,452/mo property income versus a $2,203/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Townhouse
Built in 1988
1,306 sqft lot
$N/A/sqft
$265 monthly HOA
Neighborhood data shown for ZIP Code: 08873, Somerset, NJ area.
| Category | Value |
|---|---|
| Total HU (Housing Units) | 22,399 (100%) |
| Owner Occupied HU | 14,076 (62.8%) |
| Renter Occupied HU | 7,273 (32.5%) |
| Vacant Housing Units | 1,050 ( 4.7%) |
| Median Home Value | $507,032 |
| Average Home Value | $561,292 |
Residential
22,210
Single Family
20,350
Multi-Family
1,860
Businesses
1,471
Date | Event | Price |
|---|---|---|
| 2025-03-15 | Listed for sale | $450,000 |
| 2024-11-06 | Listing removed | $2,500 |
| 2024-11-05 | Listed for rent | $2,500 |
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2024-03-17 | $6993.75 | 3.45% | $400,100 | 14.28% |
| 2023-03-17 | $6760.43 | 8.97% | $350,100 | 16.66% |
| 2022-03-17 | $6204.22 | N/A | $300,100 | 7.14% |
Listed by: Weiyan Lai • Keller Williams Cornerstone
Mls Name: GSMLS
Mls Provider:
Mls ID: #3951000
Disclaimer: The data relating to real estate for sale on this website comes in part from the IDX Program of Garden State Multiple Listing Service, L.L.C. Real estate listings held by other brokerage firms are marked as IDX Listing. Information deemed reliable but not guaranteed. Copyright 2025 Garden State Multiple Listing Service, L.L.C. All rights reserved. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.
