589 Martin Luther King BlvdNewarkNJ07103
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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
Investment property for sale in Newark at 589 Martin Luther King Blvd, Newark, NJ, 07103 offers a 9.69% rental yield on a $499,900 purchase with $4,038/mo rent. Total monthly income registers $4,038/mo, and a $2,447/mo payment leaves $475/mo available for distribution. Annual cash flow reaches $5,695/yr on $165,717 to close, and return on cash invested stands at 23.35% in year one. Equity gained on principal adds $3,226/yr while 5% annual appreciation supports $138,113 over five years. Portfolio math shows five-year ROI at 122.51% and total cumulative return in cash at $203,016. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $4,038/mo property income against a $2,447/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in N/A
1,742 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 07103, Newark, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,635 (100%) |
| Owner Occupied HU | 2,562 (16.4%) |
| Renter Occupied HU | 11,462 (73.3%) |
| Vacant Housing Units | 1,611 (10.3%) |
| Median Home Value | $343,782 |
| Average Home Value | $411,663 |
Housing Distribution
Address Breakdown
Residential
11,815
Single Family
7,659
Multi-Family
4,156
Businesses
947
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Listed by: MICHELLE CHRISTIE • REMAX VILLA REALTORS
Mls Name: HCMLS
Mls ID: #250007676