299 Ridgewood AveGlen RidgeNJ07028
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
Investment Highlights
Rental property for sale in Glen Ridge at 299 Ridgewood Ave, Glen Ridge, NJ, 07028 priced at $1,570,000 converts $2,880/mo rent into after a $7,684/mo obligation. Total monthly income equals $2,880/mo. Return on cash invested prints 0.77% in year one, and rental yield reads 2.2% against a $1,570,000 entry. Equity gained on principal adds $10,131/yr, while 5% annual appreciation compiles into $433,762 by year five. Five-year ROI reaches 1.35% and total cumulative return in cash sums $6,844. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,880/mo property income covering a $7,684/mo payment, not borrower’s personal income.
Single Family
Built in 1909
0.36 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 07028, Glen Ridge, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,796 (100%) |
| Owner Occupied HU | 2,250 (80.5%) |
| Renter Occupied HU | 491 (17.6%) |
| Vacant Housing Units | 55 ( 2.0%) |
| Median Home Value | $821,864 |
| Average Home Value | $913,219 |
Housing Distribution
Address Breakdown
Residential
2,730
Single Family
2,491
Multi-Family
239
Businesses
179
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Patricia Lleras • Christie's Int. Real Estate Group
Mls Name: GSMLS
Mls ID: #3981855