488 Ridge RdNewtonNJ07860
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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 Newton at 488 Ridge Rd, Newton, NJ, 07860 offers $3,798/mo rent that, after a $2,325/mo payment, leaves $412/mo cash flow. Total monthly income is $3,798/mo, and annual cash flow is $4,946/yr on $157,463 cash. Return on cash invested measures 23.05% in year one, and rental yield stands at 9.59% at a $475,000 entry. Equity gained on principal adds $3,065/yr while 5% annual appreciation compounds into $131,234 by year five. Five-year ROI records 120.94% and total cumulative return in cash reaches $190,435. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $3,798/mo property income versus a $2,325/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1950
2.66 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 07860, Newton, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,522 (100%) |
| Owner Occupied HU | 7,842 (68.1%) |
| Renter Occupied HU | 2,585 (22.4%) |
| Vacant Housing Units | 1,095 ( 9.5%) |
| Median Home Value | $417,121 |
| Average Home Value | $473,838 |
Housing Distribution
Address Breakdown
Residential
10,469
Single Family
9,799
Multi-Family
670
Businesses
829
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Sachagay Bailey • Exit Platinum Realty
Mls Name: GSMLS
Mls ID: #4006685