52 Pitman Avenue UNIT 3KOcean GroveNJ07756
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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 Ocean Grove at 52 Pitman Avenue UNIT 3K, Ocean Grove, NJ, 07756 priced at $525,000 converts $2,250/mo rent into after a $2,570/mo obligation. Total monthly income equals $2,250/mo. Return on cash invested prints 7.73% in year one, and rental yield reads 5.14% against a $525,000 entry. Equity gained on principal adds $3,388/yr, while 5% annual appreciation compiles into $145,048 by year five. Five-year ROI reaches 39.47% and total cumulative return in cash sums $68,181. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,250/mo property income covering a $2,570/mo payment, not borrower’s personal income.
Condo
Built in N/A
N/A lot
$N/A/sqft
$282 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 07756, Ocean Grove, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,142 (100%) |
| Owner Occupied HU | 896 (28.5%) |
| Renter Occupied HU | 972 (30.9%) |
| Vacant Housing Units | 1,274 (40.5%) |
| Median Home Value | $923,181 |
| Average Home Value | $1,021,334 |
Housing Distribution
Address Breakdown
Residential
2,770
Single Family
2,161
Multi-Family
609
Businesses
180
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Listed by: Tyler J Richardson • Realty One Group Emerge
Mls Name: MOMLS
Mls Provider:
Mls ID: #22518645
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.