363-377 Mt Prospect AveNewarkNJ07104
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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
Total monthly income runs $1,928/mo, and a $1,664/mo payment. Purchase price stands at $340,000, and rental yield measures 6.8% with $1,928/mo rent. Return on cash invested shows 14.64% in year one, and 5% annual appreciation builds toward $93,936 over five years. Five-year ROI reaches 75.79% and total cumulative return in cash records $85,422. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,928/mo property income covering a $1,664/mo payment rather than investor’s personal income.
Condo
Built in 1920
1.48 Acres lot
$N/A/sqft
No HOA
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 |
Housing Distribution
Address Breakdown
Residential
18,051
Single Family
8,845
Multi-Family
9,206
Businesses
1,010
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Listed by: Maatie Alcindor • Elite Realtors Of New Jersey
Mls Name: GSMLS
Mls ID: #4006704