602 N 6th St UNIT B2NewarkNJ07107
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 Newark at 602 N 6th St UNIT B2, Newark, NJ, 07107 generates $1,860/mo in rent and, after a $719/mo payment, leaves $653/mo in cash flow. Total monthly income is $1,860/mo, and annual cash flow is $7,832/yr on $48,731 invested. Return on cash invested sits at 35.98% in year one, and rental yield is 15.18% on a $147,000 entry. Equity gained on principal adds $949/yr, while 5% annual appreciation builds toward $40,613 over five years. Five-year ROI reaches 191.68% and total cumulative return in cash sums $93,408. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,860/mo property income rather than buyer’s personal income.
Condo
Built in 1920
871.20 sqft lot
$N/A/sqft
$160 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 07107, Newark, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,578 (100%) |
| Owner Occupied HU | 2,977 (19.1%) |
| Renter Occupied HU | 11,548 (74.1%) |
| Vacant Housing Units | 1,053 ( 6.8%) |
| Median Home Value | $408,045 |
| Average Home Value | $427,148 |
Housing Distribution
Address Breakdown
Residential
12,473
Single Family
7,330
Multi-Family
5,143
Businesses
646
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Gene Cooper • Cooper Real Estate Mngmt. Llc
Mls Name: GSMLS
Mls Provider:
Mls ID: #3941401
Disclaimer: The data relating to real estate for sale on this website comes in part from the IDX Program of Garden State Multiple Listing Service, L.L.C. Real estate listings held by other brokerage firms are marked as IDX Listing. Information deemed reliable but not guaranteed. Copyright 2024 Garden State Multiple Listing Service, L.L.C. All rights reserved. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.