390 Morris Ave #35SummitNJ07901
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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
Investment property for sale in Summit at 390 Morris Ave #35, Summit, NJ, 07901 earns $1,007/mo cash flow from $3,352/mo rent with a $1,610/mo payment. Total monthly income totals $3,352/mo, and annual cash flow totals $12,087/yr on $109,064 capital. ROI tracks 30.99% on current figures, and rental yield reads 12.23% at a $329,000 purchase. Equity gained on principal adds $2,123/yr, and 5% annual appreciation supports $90,897 over five years. Five-year ROI reaches 163.52% and total cumulative return in cash sums $178,341. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $3,352/mo property income instead of your personal income.
Condo
Built in 1955
5.25 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 07901, Summit, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,523 (100%) |
| Owner Occupied HU | 5,655 (66.3%) |
| Renter Occupied HU | 2,439 (28.6%) |
| Vacant Housing Units | 429 ( 5.0%) |
| Median Home Value | $997,958 |
| Average Home Value | $1,178,497 |
Housing Distribution
Address Breakdown
Residential
8,706
Single Family
8,027
Multi-Family
679
Businesses
870
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Listed by: Hallee Dangler • Prominent Properties Sir
Mls Name: GSMLS
Mls ID: #3996857