366 Summer 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
Rental property for sale in Newark at 366 Summer Ave, Newark, NJ, 07104 generates $2,926/mo in rent, after a $3,426/mo payment. Total monthly income is $2,926/mo. Return on cash invested sits at 9.31% in year one, and rental yield is 5.02% on a $699,999 entry. Equity gained on principal adds $4,517/yr, while 5% annual appreciation builds toward $193,397 over five years. Five-year ROI reaches 47.2% and total cumulative return in cash sums $108,711. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,926/mo property income rather than buyer’s personal income.
Multi Family
Built in 1881
4,356 sqft 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: Kevin Sean Collymore • Keller Williams - Nj Metro Group
Mls Name: GSMLS
Mls ID: #3996066