3061 Edwin Ave APT 3EFort 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 3061 Edwin Ave APT 3E, Fort Lee, NJ, 07024 generates $1,607/mo in rent and, after a $979/mo payment, leaves $181/mo in cash flow. Total monthly income is $1,607/mo, and annual cash flow is $2,176/yr on $66,300 invested. Return on cash invested sits at 23.19% in year one, and rental yield is 9.64% on a $199,999 entry. Equity gained on principal adds $1,291/yr, while 5% annual appreciation builds toward $55,256 over five years. Five-year ROI reaches 121.71% and total cumulative return in cash sums $80,696. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,607/mo property income rather than buyer’s personal income.
Condo
Built in N/A
N/A lot
$N/A/sqft
No 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: Kathleen Wicklund • Russo Real Estate
Mls Name: NJMLS
Mls ID: #25044182