363-377 Mt Prospect Ave #2AW, Newark, NJ, 07104 | $30/mo Cash Flow

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Monthly Cash Flow: 1 - 3k+

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363-377 Mt Prospect Ave #2AW, Newark, NJ, 07104 | $30/mo Cash Flow | Ziffy

For Sale

Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Investment property for sale in Newark at 363-377 Mt Prospect Ave #2AW, Newark, NJ, 07104 offers a 8.64% rental yield on a $399,900 purchase with $2,880/mo rent. Total monthly income registers $2,880/mo, and a $1,957/mo payment leaves $30/mo available for distribution. Annual cash flow reaches $359/yr on $132,567 to close, and return on cash invested stands at 20.18% in year one. Equity gained on principal adds $2,580/yr while 5% annual appreciation supports $110,485 over five years. Portfolio math shows five-year ROI at 105.52% and total cumulative return in cash at $139,880. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,880/mo property income against a $1,957/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.

Condo

Built in N/A

1.48 Acres lot

$N/A/sqft

No HOA

More details about the property

Welcome to this stunning condominium in the heart of Newark's desirable Forest Hill neighborhood! This beautifully designed unit features 3 spacious bedrooms and 2 full bathrooms, blending classic architectural elements with modern luxury. Enjoy the convenience of a semi-private elevator opening into a gracious foyer that sets the tone for the sophisticated interior. The oversized, sun-drenched living room provides the perfect setting for entertaining, flowing seamlessly into a formal dining room. The kitchen is ready for your culinary creations, while the primary suite boasts a bathroom complete with a soaking tub for ultimate relaxation. Additional amenities include a state-of-the-art gym, elegant grand lobby, doorman service, live-in superintendent, secure deeded garage, and convenient laundry facilities in the basement. With two entrances and more to discover, this condo offers unmatched comfort and convenience. Located just steps from Branch Brook Park and with easy access to NYC, this is a turnkey, move-in-ready gem you won't want to miss!

Neighborhood Data

Neighborhood data shown for ZIP Code: 07104, Newark, NJ area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	21,503 (100%)
Owner Occupied HU	3,939 (18.3%)
Renter Occupied HU	16,603 (77.2%)
Vacant Housing Units	961 ( 4.5%)
Median Home Value	$446,782
Average Home Value	$539,320