297 Morris AveMountain LakesNJ07046
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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 Mountain Lakes at 297 Morris Ave, Mountain Lakes, NJ, 07046 priced at $1,599,000 pairs $7,295/mo rent with after a $7,826/mo payment. Total monthly income equals $7,295/mo. Return on cash invested is 10.87% in year one, and rental yield stands at 5.47% on a $1,599,000 basis. Equity gained on principal adds $10,318/yr, and 5% annual appreciation accumulates to $441,774 by year five. Five-year ROI measures 55.52% and total cumulative return in cash reaches $287,629. For financing, Ziffy Mortgage’s DSCR program evaluates $7,295/mo property income against a $7,826/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 1912
0.48 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 07046, Mountain Lakes, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,439 (100%) |
| Owner Occupied HU | 1,306 (90.8%) |
| Renter Occupied HU | 85 ( 5.9%) |
| Vacant Housing Units | 48 ( 3.3%) |
| Median Home Value | $947,500 |
| Average Home Value | $1,083,040 |
Housing Distribution
Address Breakdown
Residential
1,455
Single Family
1,455
Multi-Family
0
Businesses
212
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Listed by: Mary C. Menard • Compass New Jersey, Llc
Mls Name: GSMLS
Mls ID: #3974493