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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% |
Investment property for sale in Edgewater at 3 Somerset Ln UNIT 322, Edgewater, NJ, 07020 offers a 5.83% rental yield on a $959,000 purchase with $4,658/mo rent. 26% in year one. Equity gained on principal adds $6,188/yr while 5% annual appreciation supports $264,954 over five years. Portfolio math shows five-year ROI at 42.86% and total cumulative return in cash at $135,223. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $4,658/mo property income against a $4,694/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in N/A
N/A lot
$N/A/sqft
$925 monthly HOA
Neighborhood data shown for ZIP Code: 07020, Edgewater, NJ area.
| 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 |
Residential
7,398
Single Family
2,466
Multi-Family
4,932
Businesses
590
Date | Event | Price |
|---|---|---|
| 2024-08-28 | Listed for sale | $959,000 |
| 2024-08-12 | Listing removed | N/A |
| 2024-07-02 | Price change | $970,000 |
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2023-10-16 | $13869.95 | -3.39% | $868,500 | -2.48% |
| 2022-10-16 | $14356.47 | -1.47% | $890,600 | 37.71% |
| 2021-10-16 | $14570.15 | 18.83% | $646,700 | N/A |
Listed by: Michael B. Hern • Prominent Properties Sotheby's International Realty-Weehawken
Mls Name: NJMLS
Mls Provider:
Mls ID: #24027743
Disclaimer: The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than Zillow, Inc. are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website. All information deemed reliable but not guaranteed. Last date updated: 2024-10-16 03:23:34 PDT Source: New Jersey Multiple Listing, Inc. 2024 New Jersey Multiple Listing Service Inc. All rights reserved.
