508 2nd St APT 2B, Union City, NJ, 07087 | 7.84% Rental Yield

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508 2nd St APT 2B, Union City, NJ, 07087 | 7.84% Rental Yield | Ziffy

For Sale

Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Investment property for sale in Union City at 508 2nd St APT 2B, Union City, NJ, 07087 offers a 7.84% rental yield on a $599,000 purchase with $3,914/mo rent. 89% in year one. Equity gained on principal adds $3,865/yr while 5% annual appreciation supports $165,493 over five years. Portfolio math shows five-year ROI at 93.26% and total cumulative return in cash at $183,790. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $3,914/mo property income against a $2,932/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.

Condo

Built in N/A

N/A lot

$N/A/sqft

No HOA

More details about the property

Welcome to 508 2nd St - a boutique condo building built in 2004 located directly across from gorgeous 22 acre Washington Park. Unit 2B is a spacious 1342sf w/ 2 bedrooms, 2 bathrooms featuring 10.5 ft ceilings, hardwood floors, two custom walk-in closets, central air, washer/dryer, smart home features & updated modern appliances. A large open concept living space with wrap-around granite kitchen is perfect for entertaining. The unit also features a private balcony and comes with indoor garage parking. Situated on the border of Hoboken and Jersey City Heights, the neighborhood is known for its rich cultural heritage, vibrant arts scene, walkable streets, local shops, restaurants, parks, and sweeping views of the Manhattan skyline from atop the Hudson Palisades. Washington Parks multi-million dollar renovation includes tennis & basketball courts, a large playground, a splash pad, dog park, picnic benches, walking trails and more! Commuters will love the quick access to New York City: NJ Transit buses provide frequent service to Port Authority in 20 - 30 minutes. Youre also just a couple of blocks to the 9th St Light Rail, which can get you to the PATH train or to downtown Hoboken / Jersey City. For drivers, Route 495 and the Lincoln Tunnel make car commutes into Manhattan a breeze. Whether youre seeking urban convenience, cultural vibrancy, or an affordable alternative to Manhattan / Hoboken living without sacrificing space or comfort, this home delivers with style, location, and unbeatable access to everything the area has to offer.

Neighborhood Data

Neighborhood data shown for ZIP Code: 07087, Union City, NJ area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	26,036 (100%)
Owner Occupied HU	4,775 (18.3%)
Renter Occupied HU	19,382 (74.4%)
Vacant Housing Units	1,879 ( 7.2%)
Median Home Value	$502,333
Average Home Value	$541,116