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Price: $300K - 500K
Monthly Cash Flow: 1 - 3k+
Home Type: Single Family
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A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
Rental property for sale in Summit at 69 Michigan Ave, Summit, NJ, 07901 priced at $879,000 pairs $0/mo rent with after a $4,302/mo payment. Total monthly income equals $0/mo. Return on cash invested is -5.94% in year one, and rental yield stands at 0% on a $879,000 basis. Equity gained on principal adds $5,672/yr, and 5% annual appreciation accumulates to $242,851 by year five. For financing, Ziffy Mortgage’s DSCR program evaluates $0/mo property income against a $4,302/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 1962
0.26 Acres lot
$N/A/sqft
No HOA
Neighborhood data shown for ZIP Code: 07901, Summit, NJ area.
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,523 (100%) |
| Owner Occupied HU | 5,655 (66.3%) |
| Renter Occupied HU | 2,439 (28.6%) |
| Vacant Housing Units | 429 ( 5.0%) |
| Median Home Value | $997,958 |
| Average Home Value | $1,178,497 |
Residential
8,706
Single Family
8,027
Multi-Family
679
Businesses
870
Date | Event | Price |
|---|---|---|
| 2024-12-04 | Price change | $879,000 |
| 2024-11-07 | Price change | $899,000 |
| 2024-10-09 | Listed for sale | $939,000 |
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2024-01-28 | $7805.95 | 0.67% | $179,200 | N/A |
| 2023-01-28 | $7753.98 | 1.03% | $179,200 | N/A |
| 2022-01-28 | $7675.14 | -0.79% | $179,200 | N/A |
No similar rental properties found nearby.
Listed by: Maurizio Mercuri • Driscoll Real Estate Llc
Mls Name: GSMLS
Mls Provider:
Mls ID: #3928334
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.
