407 First Avenue West CpeCape MayNJ08204
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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 Cape May at 407 First Avenue West Cpe, Cape May, NJ, 08204 offers a 2.38% rental yield on a $1,595,000 purchase with $3,168/mo rent. 33% in year one. Equity gained on principal adds $10,292/yr while 5% annual appreciation supports $440,669 over five years. Portfolio math shows five-year ROI at 4.35% and total cumulative return in cash at $22,481. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $3,168/mo property income against a $7,807/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1970
7,200 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 08204, Cape May, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,314 (100%) |
| Owner Occupied HU | 5,777 (43.4%) |
| Renter Occupied HU | 1,718 (12.9%) |
| Vacant Housing Units | 5,819 (43.7%) |
| Median Home Value | $575,781 |
| Average Home Value | $665,846 |
Housing Distribution
Address Breakdown
Residential
9,319
Single Family
8,761
Multi-Family
558
Businesses
779
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Listed by: James McBride • Coldwell Banker Sol Needles Real Estate
Mls Name: CMCAOR
Mls ID: #251643