31 Spruce RdOcean CityNJ08226
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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 Ocean City at 31 Spruce Rd, Ocean City, NJ, 08226 priced at $1,575,000 converts $4,390/mo rent into after a $7,709/mo obligation. Total monthly income equals $4,390/mo. Return on cash invested prints 4.29% in year one, and rental yield reads 3.34% against a $1,575,000 entry. Equity gained on principal adds $10,163/yr, while 5% annual appreciation compiles into $435,143 by year five. Five-year ROI reaches 20.27% and total cumulative return in cash sums $103,430. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $4,390/mo property income covering a $7,709/mo payment, not borrower’s personal income.
Single Family
Built in 1971
5,000 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 08226, Ocean City, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 21,442 (100%) |
| Owner Occupied HU | 4,123 (19.2%) |
| Renter Occupied HU | 1,589 ( 7.4%) |
| Vacant Housing Units | 15,730 (73.4%) |
| Median Home Value | $843,777 |
| Average Home Value | $1,010,518 |
Housing Distribution
Address Breakdown
Residential
11,430
Single Family
10,609
Multi-Family
821
Businesses
871
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Listed by: Maureen Hoey • Tim Kerr Sotheby's International Realty
Mls Name: CMCAOR
Mls ID: #252679