55 Irene CtClosterNJ07624
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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 Closter at 55 Irene Ct, Closter, NJ, 07624 priced at $1,638,000 converts $5,400/mo rent into after a $8,017/mo obligation. Total monthly income equals $5,400/mo. Return on cash invested prints 6.18% in year one, and rental yield reads 3.96% against a $1,638,000 entry. Equity gained on principal adds $10,570/yr, while 5% annual appreciation compiles into $452,549 by year five. Five-year ROI reaches 30.39% and total cumulative return in cash sums $161,262. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $5,400/mo property income covering a $8,017/mo payment, not borrower’s personal income.
Single Family
Built in N/A
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 07624, Closter, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,858 (100%) |
| Owner Occupied HU | 2,299 (80.4%) |
| Renter Occupied HU | 431 (15.1%) |
| Vacant Housing Units | 128 ( 4.5%) |
| Median Home Value | $844,388 |
| Average Home Value | $931,435 |
Housing Distribution
Address Breakdown
Residential
2,886
Single Family
2,856
Multi-Family
30
Businesses
516
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Listed by: Jennifer Yang-Wu • Coldwell Banker, Alpine/Closter
Mls Name: NJMLS
Mls Provider:
Mls ID: #24032270
Disclaimer: The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than Zillow, Inc. are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website. All information deemed reliable but not guaranteed. Last date updated: 2024-10-17 02:52:27 PDT Source: New Jersey Multiple Listing, Inc. 2024 New Jersey Multiple Listing Service Inc. All rights reserved.