602 E 23rd StPatersonNJ07514
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
Investment property for sale in Paterson at 602 E 23rd St, Paterson, NJ, 07514 uses $159,083 cash to close to unlock $14,247/yr annual cash flow and $1,187/mo monthly cash flow. Total monthly income runs $4,608/mo, and a $2,349/mo payment keeps the spread at $1,187/mo. Purchase price stands at $479,888, and rental yield measures 11.52% with $4,608/mo rent. Return on cash invested shows 28.86% in year one, and 5% annual appreciation builds toward $132,584 over five years. Five-year ROI reaches 152.11% and total cumulative return in cash records $241,985. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $4,608/mo property income covering a $2,349/mo payment rather than investor’s personal income.
Single Family
Built in 1900
1,306 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 07514, Paterson, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,923 (100%) |
| Owner Occupied HU | 2,116 (30.6%) |
| Renter Occupied HU | 4,517 (65.2%) |
| Vacant Housing Units | 290 ( 4.2%) |
| Median Home Value | $344,394 |
| Average Home Value | $352,392 |
Housing Distribution
Address Breakdown
Residential
6,119
Single Family
4,207
Multi-Family
1,912
Businesses
446
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Listed by: Jose Alberto Checo • Real
Mls Name: GSMLS
Mls Provider:
Mls ID: #3924358
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