38 Elvin AvePenns GroveNJ08069
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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 Penns Grove at 38 Elvin Ave, Penns Grove, NJ, 08069 offers $2,192/mo rent that, after a $1,322/mo payment, leaves $267/mo cash flow. Total monthly income is $2,192/mo, and annual cash flow is $3,204/yr on $89,505 cash. Return on cash invested measures 23.49% in year one, and rental yield stands at 9.74% at a $269,999 entry. Equity gained on principal adds $1,742/yr while 5% annual appreciation compounds into $74,596 by year five. Five-year ROI records 123.25% and total cumulative return in cash reaches $110,317. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,192/mo property income versus a $1,322/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1940
0.28 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 08069, Penns Grove, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,061 (100%) |
| Owner Occupied HU | 3,079 (50.8%) |
| Renter Occupied HU | 2,317 (38.2%) |
| Vacant Housing Units | 665 (11.0%) |
| Median Home Value | $209,820 |
| Average Home Value | $314,811 |
Housing Distribution
Address Breakdown
Residential
5,212
Single Family
4,783
Multi-Family
429
Businesses
292
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Listed by: Branden Fowler-Hawkins • Keller Williams Realty - Cherry Hill
Mls Name: Bright MLS
Mls ID: #NJSA2017684