3 Somerset Ln APT 509EdgewaterNJ07020
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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 Edgewater at 3 Somerset Ln APT 509, Edgewater, NJ, 07020 priced at $1,069,000 converts $3,813/mo rent into after a $5,232/mo obligation. Total monthly income equals $3,813/mo. Return on cash invested prints 7.18% in year one, and rental yield reads 4.28% against a $1,069,000 entry. Equity gained on principal adds $6,898/yr, while 5% annual appreciation compiles into $295,345 by year five. Five-year ROI reaches 35.76% and total cumulative return in cash sums $123,859. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $3,813/mo property income covering a $5,232/mo payment, not borrower’s personal income.
Condo
Built in N/A
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 07020, Edgewater, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,338 (100%) |
| Owner Occupied HU | 2,578 (35.1%) |
| Renter Occupied HU | 4,135 (56.4%) |
| Vacant Housing Units | 625 ( 8.5%) |
| Median Home Value | $847,464 |
| Average Home Value | $933,297 |
Housing Distribution
Address Breakdown
Residential
7,398
Single Family
2,466
Multi-Family
4,932
Businesses
590
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Listed by: Jia Yan • PROMINENT PROPERTIES SOTHEBY'S INTERNATIONAL REALTY
Mls Name: HCMLS
Mls ID: #250003096
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.