693-695 E 31St StPatersonNJ07514
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
Investment property for sale in Paterson at 693-695 E 31St St, Paterson, NJ, 07514 uses $172,725 cash to close to unlock $2,046/yr annual cash flow and $171/mo monthly cash flow. Total monthly income runs $3,913/mo, and a $2,570/mo payment keeps the spread at $171/mo. Purchase price stands at $525,000, and rental yield measures 8.94% with $3,913/mo rent. Return on cash invested shows 21.24% in year one, and 5% annual appreciation builds toward $145,048 over five years. Five-year ROI reaches 111.22% and total cumulative return in cash records $192,105. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $3,913/mo property income covering a $2,570/mo payment rather than investor’s personal income.
Single Family
Built in 1960
3,484 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 07514, Paterson, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,923 (100%) |
| Owner Occupied HU | 2,116 (30.6%) |
| Renter Occupied HU | 4,517 (65.2%) |
| Vacant Housing Units | 290 ( 4.2%) |
| Median Home Value | $344,394 |
| Average Home Value | $352,392 |
Housing Distribution
Address Breakdown
Residential
6,119
Single Family
4,207
Multi-Family
1,912
Businesses
446
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Joann Tarabokija • Snap N Shop Homes
Mls Name: GSMLS
Mls ID: #3986591