40 Prospect StSummitNJ07901
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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 Summit at 40 Prospect St, Summit, NJ, 07901 priced at $1,700,000 pairs $5,591/mo rent with after a $8,321/mo payment. Total monthly income equals $5,591/mo. Return on cash invested is 6.15% in year one, and rental yield stands at 3.95% on a $1,700,000 basis. Equity gained on principal adds $10,970/yr, and 5% annual appreciation accumulates to $469,679 by year five. Five-year ROI measures 30.23% and total cumulative return in cash reaches $166,495. For financing, Ziffy Mortgage’s DSCR program evaluates $5,591/mo property income against a $8,321/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 1923
0.31 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: SENADA GRAFAS • EXP REALTY, LLC
Mls Name: All Jersey MLS
Mls ID: #2607798R