602 N 6th St UNIT B2NewarkNJ07107
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowDay-one income is the story at 602 N 6th St UNIT B2, Newark, NJ, 07107 in Newark. Priced at $147,000, it generates $1,860/mo in gross rent and $652/mo in net monthly cash flow, a 15.18% yield that comfortably supports the 2.81 DSCR needed for Ziffy Mortgage's no-W2 DSCR mortgage. Projected annual cash flow: $7,827. Five-year appreciation: $40,613. Equity from principal paydown: $1,354/yr. Total projected cumulative return: $99,007.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 15.2% | 7.2% |
| Monthly Cash Flow | $652 | $1,250 |
City averages based on Newark market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,860 |
| Total Monthly Debt Service | $1,149 |
| DSCR Ratio | 1.62x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
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
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
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