62 Millington AveNewarkNJ07108
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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
Rental property for sale in Newark at 62 Millington Ave, Newark, NJ, 07108 generates $1,020/mo in rent, after a $3,399/mo payment. Total monthly income is $1,020/mo. Return on cash invested sits at -0.58% in year one, and rental yield is 1.76% on a $694,500 entry. Equity gained on principal adds $4,482/yr, while 5% annual appreciation builds toward $191,878 over five years. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,020/mo property income rather than buyer’s personal income.
Multi Family
Built in 1950
3,920 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 07108, Newark, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,489 (100%) |
| Owner Occupied HU | 1,712 (14.9%) |
| Renter Occupied HU | 8,769 (76.3%) |
| Vacant Housing Units | 1,008 ( 8.8%) |
| Median Home Value | $401,970 |
| Average Home Value | $431,478 |
Housing Distribution
Address Breakdown
Residential
8,969
Single Family
5,693
Multi-Family
3,276
Businesses
407
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Listed by: John Casolaro Jr • The Mountaintop Group Llc
Mls Name: GSMLS
Mls Provider:
Mls ID: #3945808
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