62 Magellan WayFranklin ParkNJ08823
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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 Franklin Park at 62 Magellan Way, Franklin Park, NJ, 08823 offers a 7.04% rental yield on a $800,000 purchase with $4,696/mo rent. 47% in year one. Equity gained on principal adds $5,162/yr while 5% annual appreciation supports $221,025 over five years. Portfolio math shows five-year ROI at 80.26% and total cumulative return in cash at $211,232. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $4,696/mo property income against a $3,916/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1990
6,534 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 08823, Franklin Park, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,871 (100%) |
| Owner Occupied HU | 2,571 (66.4%) |
| Renter Occupied HU | 1,174 (30.3%) |
| Vacant Housing Units | 126 ( 3.3%) |
| Median Home Value | $394,233 |
| Average Home Value | $447,268 |
Housing Distribution
Address Breakdown
Residential
3,847
Single Family
3,847
Multi-Family
0
Businesses
167
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Listed by: REMA CHEPULIS • KELLER WILLIAMS ELITE REALTORS
Mls Name: All Jersey MLS
Mls ID: #2609405R