7 Carleen Ct, Summit, NJ, 07901 | 4.49% Rental Yield

Save Search

Filters Applied

EditEdit Filters

Filters Applied:

Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

Home Type: Single Family

EditEdit Filters

7 Carleen Ct, Summit, NJ, 07901 | 4.49% Rental Yield | Ziffy

For Sale

Ziffy Mortgage

NMLS #2625701

Get Pre-Approved

Nearby investment properties with comparable rents

3 Bed
2 Bath
- sft

515 William St, Scotch Plains, NJ, 07076

3 Bed
4 Bath
2572 sft

6 Leidl Cir, Hillsborough, NJ, 08844

3 Bed
3 Bath
2136 sft

1 Silcox Pl, Somerset, NJ, 08873

3 Bed
3 Bath
- sft

947 Madison Ave, Plainfield, NJ, 07060

Nearby investment properties with comparable prices

6 Bed
5 Bath
4998 sft

35 Main St, Peapack, NJ, 07977

5 Bed
3 Bath
- sft

72 Central Ave, New Providence, NJ, 07974

4 Bed
3 Bath
- sft

4 Tuxford Terrace, Basking Ridge, NJ, 07920

5 Bed
4 Bath
3201 sft

16 Whitetail Ln, Basking Ridge, NJ, 07920

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

Explore more listings using simple english

Investment Highlights

Rental property for sale in Summit at 7 Carleen Ct, Summit, NJ, 07901 offers $4,845/mo rent that, after a $6,338/mo payment. Total monthly income is $4,845/mo. Return on cash invested measures 7.83% in year one, and rental yield stands at 4.49% at a $1,295,000 entry. Equity gained on principal adds $8,356/yr while 5% annual appreciation compounds into $357,785 by year five. Five-year ROI records 39.22% and total cumulative return in cash reaches $164,562. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $4,845/mo property income versus a $6,338/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.

Single Family

Built in 1967

0.39 Acres lot

$N/A/sqft

No HOA

More details about the property

On a tranquil cul-de-sac, 7 Carleen Ct. is a 4BR 2.1 BA home (circa 1967 with only one owner) showcasing Mid-Centrury Modern Architecture. A dramatic entryway with gorgeous wood floors leads to the heart of home. A beautiful eat-in cook's Kitchen that features high-end maple cabinetry, a center island, double ovens, a gas cook top, wine cooler, newer Bosch dishwasher and other premium appliances. The LR has a high sloped ceiling and a brick wall that anchors the room with a gas fireplace-perfect for relaxing or entertaining. A formal DR sits just off the Kitchen and opens to the Living Room, offering a natural flow for entertaining. The Primary BR offers a walk-in closet and en suite Bath with a large tiled shower. The updated Hall Bath is spacious and has a shower/tub combination. The finished lower level offers incredible versatility with a large paneled Den with walk-out to the yard, Powder Room, Laundry, Storage Area, Utility Room and oversized 2 car Garage w/openers. The home offers a blend of timeless design and move-in possibilities for anyone wanting to renovate or expand over time as well as others, given the significant return on investment potential. Summit offers top rated schools, a vibrant downtown, the Mid-Town Direct Train to NYC, seasonal Farmers Market and easy access to Newark Liberty International Airport and direct access to the the Shore. This home is ready to be loved, lived in and transformed by the next discerning owners.

Neighborhood Data

Neighborhood data shown for ZIP Code: 07901, Summit, NJ area.

Housing Distribution

Housing Statistics

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