3011 Edwin Avenue UNIT 5JFort LeeNJ07024
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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 Fort Lee at 3011 Edwin Avenue UNIT 5J, Fort Lee, NJ, 07024 generates $1,428/mo in rent, after a $979/mo payment. Total monthly income is $1,428/mo. Return on cash invested sits at 13.65% in year one, and rental yield is 8.57% on a $200,000 entry. Equity gained on principal adds $1,291/yr, while 5% annual appreciation builds toward $55,256 over five years. Five-year ROI reaches 72.86% and total cumulative return in cash sums $48,308. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,428/mo property income rather than buyer’s personal income.
Condo
Built in 2020
N/A lot
$N/A/sqft
$348 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 07024, Fort Lee, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 20,662 (100%) |
| Owner Occupied HU | 10,390 (50.3%) |
| Renter Occupied HU | 8,673 (42.0%) |
| Vacant Housing Units | 1,599 ( 7.7%) |
| Median Home Value | $639,455 |
| Average Home Value | $692,357 |
Housing Distribution
Address Breakdown
Residential
19,876
Single Family
6,688
Multi-Family
13,188
Businesses
1,745
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Listed by: Jose Sanchez • Keller Williams Realty West Monmouth
Mls Name: MOMLS
Mls Provider:
Mls ID: #22515911
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.