3 Somerset Ln UNIT 309EdgewaterNJ07020
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeHigh DSCR is a competitive advantage at closing. 3 Somerset Ln UNIT 309, Edgewater, NJ, 07020 in Edgewater achieves 1.61, rent of $6,694/mo covers the $4,159/mo payment 1.5x over at $925,000. Rental yield 8.68%. That makes it both an efficient operational hold and a straightforward underwrite for Ziffy Mortgage's DSCR program. No domestic credit history or income documentation required. Appreciation at 5%/yr adds $255,560 over five years, with $8,519/yr in principal reduction bringing total projected return to $305,570.
| This Property | National Avg | |
|---|---|---|
| Gross Rental Yield | 8.7% | 6.2% |
| Monthly Cash Flow | $(825) | $180 |
National averages based on 2024–2025 U.S. residential rental market data. Content is user-generated and unverified.
DSCR Loan Qualification
| Monthly Rental Income | $6,694 |
| Total Monthly Debt Service | $7,150 |
| DSCR Ratio | 0.94x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in N/A
N/A lot
$N/A/sqft
$925 monthly 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
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
Condo
Built in N/A
N/A lot
$N/A/sqft
$925 monthly 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Michael Hern • KELLER WILLIAMS CITY VIEWS
Mls Name: HCMLS
Mls ID: #250002607
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.