57 Main Avenue UNIT 1Ocean 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 57 Main Avenue UNIT 1, Ocean Grove, NJ, 07756 generates $2,435/mo in rent, after a $2,692/mo payment. Total monthly income is $2,435/mo. Return on cash invested sits at 7.39% in year one, and rental yield is 5.31% on a $550,000 entry. Equity gained on principal adds $3,549/yr, while 5% annual appreciation builds toward $151,955 over five years. Five-year ROI reaches 37.95% and total cumulative return in cash sums $68,662. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,435/mo property income rather than buyer’s personal income.
Condo
Built in 1989
435.60 sqft lot
$N/A/sqft
$425 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: Leslie J Tucker • RE/MAX First Realty
Mls Name: MOMLS
Mls Provider:
Mls ID: #22431897
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.