385 BroadwayPassaicNJ07055
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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 Passaic at 385 Broadway, Passaic, NJ, 07055 generates $1,996/mo in rent, after a $1,463/mo payment. Total monthly income is $1,996/mo. Return on cash invested sits at 18.28% in year one, and rental yield is 8.01% on a $299,000 entry. Equity gained on principal adds $1,929/yr, while 5% annual appreciation builds toward $82,608 over five years. Five-year ROI reaches 95.35% and total cumulative return in cash sums $94,510. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,996/mo property income rather than buyer’s personal income.
Single Family
Built in 1900
2,613 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 07055, Passaic, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 21,898 (100%) |
| Owner Occupied HU | 5,132 (23.4%) |
| Renter Occupied HU | 15,698 (71.7%) |
| Vacant Housing Units | 1,068 ( 4.9%) |
| Median Home Value | $537,015 |
| Average Home Value | $562,836 |
Housing Distribution
Address Breakdown
Residential
20,248
Single Family
13,119
Multi-Family
7,129
Businesses
2,230
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Listed by: Batja Bamberger • Dwell Realty
Mls Name: GSMLS
Mls ID: #3994148