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Price: $300K - 500K
Monthly Cash Flow: 1 - 3k+
Home Type: Single Family
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A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
Rental property for sale in Elizabeth at 513 Cherry St UNIT A1, Elizabeth, NJ, 07208 priced at $299,000 converts $2,620/mo rent into $279/mo cash flow after a $1,463/mo obligation. Total monthly income equals $2,620/mo, and annual cash flow totals $3,351/yr on $99,119 invested. Return on cash invested prints 23.29% in year one, and rental yield reads 10.52% against a $299,000 entry. Equity gained on principal adds $1,929/yr, while 5% annual appreciation compiles into $82,608 by year five. Five-year ROI reaches 123.17% and total cumulative return in cash sums $122,086. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,620/mo property income covering a $1,463/mo payment, not borrower’s personal income.
Condo
Built in 1950
3,484 sqft lot
$N/A/sqft
$210 monthly HOA
Neighborhood data shown for ZIP Code: 07208, Elizabeth, NJ area.
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,023 (100%) |
| Owner Occupied HU | 3,405 (26.1%) |
| Renter Occupied HU | 9,116 (70.0%) |
| Vacant Housing Units | 502 ( 3.9%) |
| Median Home Value | $497,587 |
| Average Home Value | $535,273 |
Residential
11,878
Single Family
6,343
Multi-Family
5,535
Businesses
668
Date | Event | Price |
|---|---|---|
| 2025-03-28 | Listed for sale | $299,000 |
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| No tax history data available | ||||
Listed by: Jorge A Castro • Premier Homes
Mls Name: GSMLS
Mls Provider:
Mls ID: #3953638
Disclaimer: The data relating to real estate for sale on this website comes in part from the IDX Program of Garden State Multiple Listing Service, L.L.C. Real estate listings held by other brokerage firms are marked as IDX Listing. Information deemed reliable but not guaranteed. Copyright 2025 Garden State Multiple Listing Service, L.L.C. All rights reserved. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.
