408 Atlantic 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
Rental property for sale in Cape May at 408 Atlantic Avenue West Cpe, Cape May, NJ, 08204 priced at $824,900 converts $1,800/mo rent into after a $4,037/mo obligation. Total monthly income equals $1,800/mo. Return on cash invested prints 2.02% in year one, and rental yield reads 2.62% against a $824,900 entry. Equity gained on principal adds $5,323/yr, while 5% annual appreciation compiles into $227,905 by year five. Five-year ROI reaches 8.14% and total cumulative return in cash sums $22,081. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,800/mo property income covering a $4,037/mo payment, not borrower’s personal income.
Single Family
Built in 1930
3,000 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: Trisha Kellaway • HOMESTEAD REAL ESTATE CO. INC.
Mls Name: CMCAOR
Mls ID: #253157