402 Picardy Court #BLakewoodNJ08701
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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 Lakewood at 402 Picardy Court #B, Lakewood, NJ, 08701 generates $2,312/mo in rent and, after a $1,223/mo payment, leaves $531/mo in cash flow. Total monthly income is $2,312/mo, and annual cash flow is $6,371/yr on $82,842 invested. Return on cash invested sits at 27.6% in year one, and rental yield is 11.1% on a $249,900 entry. Equity gained on principal adds $1,613/yr, while 5% annual appreciation builds toward $69,043 over five years. Five-year ROI reaches 145.31% and total cumulative return in cash sums $120,374. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,312/mo property income rather than buyer’s personal income.
Single Family
Built in 1969
1,306 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 08701, Lakewood, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 37,501 (100%) |
| Owner Occupied HU | 17,812 (47.5%) |
| Renter Occupied HU | 16,760 (44.7%) |
| Vacant Housing Units | 2,929 ( 7.8%) |
| Median Home Value | $566,588 |
| Average Home Value | $610,438 |
Housing Distribution
Address Breakdown
Residential
29,523
Single Family
27,488
Multi-Family
2,035
Businesses
3,052
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Listed by: Pasquale Mennella • C21/ Lawrence Realty
Mls Name: MoreMLS
Mls ID: #22601921