553 Ludlow AvenueSpring LakeNJ07762
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 Spring Lake at 553 Ludlow Avenue, Spring Lake, NJ, 07762 priced at $1,599,000 converts $6,077/mo rent into after a $7,826/mo obligation. Total monthly income equals $6,077/mo. Return on cash invested prints 8.05% in year one, and rental yield reads 4.56% against a $1,599,000 entry. Equity gained on principal adds $10,318/yr, while 5% annual appreciation compiles into $441,774 by year five. Five-year ROI reaches 40.39% and total cumulative return in cash sums $209,257. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $6,077/mo property income covering a $7,826/mo payment, not borrower’s personal income.
Single Family
Built in 1908
0.49 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 07762, Spring Lake, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,755 (100%) |
| Owner Occupied HU | 2,831 (49.2%) |
| Renter Occupied HU | 1,406 (24.4%) |
| Vacant Housing Units | 1,518 (26.4%) |
| Median Home Value | $888,913 |
| Average Home Value | $1,183,369 |
Housing Distribution
Address Breakdown
Residential
5,253
Single Family
4,594
Multi-Family
659
Businesses
476
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Christine Woodrow • Ward Wight Sotheby's International Realty
Mls Name: MOMLS
Mls Provider:
Mls ID: #22511196
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.