376 Melrose PlSouth OrangeNJ07079
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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 South Orange at 376 Melrose Pl, South Orange, NJ, 07079 priced at $998,888 pairs $6,378/mo rent with after a $4,889/mo payment. Total monthly income equals $6,378/mo. Return on cash invested is 17.35% in year one, and rental yield stands at 7.66% on a $998,888 basis. Equity gained on principal adds $6,446/yr, and 5% annual appreciation accumulates to $275,974 by year five. Five-year ROI measures 90.34% and total cumulative return in cash reaches $296,882. For financing, Ziffy Mortgage’s DSCR program evaluates $6,378/mo property income against a $4,889/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 1921
9,583 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 07079, South Orange, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,962 (100%) |
| Owner Occupied HU | 4,124 (59.2%) |
| Renter Occupied HU | 2,404 (34.5%) |
| Vacant Housing Units | 434 ( 6.2%) |
| Median Home Value | $826,407 |
| Average Home Value | $847,887 |
Housing Distribution
Address Breakdown
Residential
6,435
Single Family
4,581
Multi-Family
1,854
Businesses
659
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Listed by: Mark Slade • Keller Williams Mid-Town Direct
Mls Name: GSMLS
Mls ID: #4003060