3071 Edwin Ave #2FFort 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
Investment property for sale in Fort Lee at 3071 Edwin Ave #2F, Fort Lee, NJ, 07024 uses $65,306 cash to close to unlock $1,152/yr annual cash flow and $96/mo monthly cash flow. Total monthly income runs $1,500/mo, and a $964/mo payment keeps the spread at $96/mo. Purchase price stands at $197,000, and rental yield measures 9.14% with $1,500/mo rent. Return on cash invested shows 21.67% in year one, and 5% annual appreciation builds toward $54,427 over five years. Five-year ROI reaches 113.6% and total cumulative return in cash records $74,186. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,500/mo property income covering a $964/mo payment rather than investor’s personal income.
Condo
Built in 1950
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: Bettye Lyons • Keller Williams - Nj Metro Group
Mls Name: GSMLS
Mls ID: #4006419