61 Luddington RdWest OrangeNJ07052
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 West Orange at 61 Luddington Rd, West Orange, NJ, 07052 generates $4,986/mo in rent and, after a $3,083/mo payment, leaves $342/mo in cash flow. Total monthly income is $4,986/mo, and annual cash flow is $4,109/yr on $207,237 invested. Return on cash invested sits at 22.04% in year one, and rental yield is 9.5% on a $629,900 entry. Equity gained on principal adds $4,065/yr, while 5% annual appreciation builds toward $174,030 over five years. Five-year ROI reaches 115.83% and total cumulative return in cash sums $240,039. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $4,986/mo property income rather than buyer’s personal income.
Single Family
Built in 1928
6,098 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 07052, West Orange, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,309 (100%) |
| Owner Occupied HU | 12,541 (64.9%) |
| Renter Occupied HU | 5,679 (29.4%) |
| Vacant Housing Units | 1,089 ( 5.6%) |
| Median Home Value | $594,614 |
| Average Home Value | $648,146 |
Housing Distribution
Address Breakdown
Residential
18,032
Single Family
15,941
Multi-Family
2,091
Businesses
1,496
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Christine R Lane • Compass New Jersey Llc
Mls Name: GSMLS
Mls Provider:
Mls ID: #3929403
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.