7 Berkeley PlMontclairNJ07042
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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 Montclair at 7 Berkeley Pl, Montclair, NJ, 07042 uses $318,801 cash to close to unlock $7,787/yr annual cash flow and $649/mo monthly cash flow. Total monthly income runs $7,816/mo, and a $4,743/mo payment keeps the spread at $649/mo. Purchase price stands at $969,000, and rental yield measures 9.68% with $7,816/mo rent. Return on cash invested shows 22.5% in year one, and 5% annual appreciation builds toward $267,717 over five years. Five-year ROI reaches 118.31% and total cumulative return in cash records $377,175. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $7,816/mo property income covering a $4,743/mo payment rather than investor’s personal income.
Single Family
Built in 1913
0.25 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 07042, Montclair, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,932 (100%) |
| Owner Occupied HU | 5,166 (43.3%) |
| Renter Occupied HU | 6,248 (52.4%) |
| Vacant Housing Units | 518 ( 4.3%) |
| Median Home Value | $820,298 |
| Average Home Value | $907,117 |
Housing Distribution
Address Breakdown
Residential
11,323
Single Family
7,828
Multi-Family
3,495
Businesses
1,455
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Listed by: Cathy Mccarthy • Coldwell Banker Realty
Mls Name: GSMLS
Mls Provider:
Mls ID: #3962756
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