640 Franklin Avenue UNIT 1BNutleyNJ07110
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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 Nutley at 640 Franklin Avenue UNIT 1B, Nutley, NJ, 07110 offers $1,870/mo rent that, after a $1,175/mo payment. Total monthly income is $1,870/mo. Return on cash invested measures 17.83% in year one, and rental yield stands at 9.35% at a $240,000 entry. Equity gained on principal adds $1,549/yr while 5% annual appreciation compounds into $66,308 by year five. Five-year ROI records 94.51% and total cumulative return in cash reaches $75,194. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,870/mo property income versus a $1,175/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Condo
Built in 1988
435.60 sqft lot
$N/A/sqft
$297 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 07110, Nutley, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,190 (100%) |
| Owner Occupied HU | 7,777 (63.8%) |
| Renter Occupied HU | 4,070 (33.4%) |
| Vacant Housing Units | 343 ( 2.8%) |
| Median Home Value | $542,138 |
| Average Home Value | $574,017 |
Housing Distribution
Address Breakdown
Residential
11,752
Single Family
9,722
Multi-Family
2,030
Businesses
925
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Listed by: Darlene Walsh • Weichert Realtors-Brick
Mls Name: MOMLS
Mls Provider:
Mls ID: #22500839
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.