71 16Th Ave #104NewarkNJ07103
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash Flow71 16Th Ave #104, Newark, NJ, 07103 in Newark is a solid income-producing rental, 10.96% gross yield, $2,912/mo rent, $314/mo net cash flow on a $319,000 buy. DSCR 2.03 qualifies the property for Ziffy Mortgage's financing without personal income documentation. Five-year appreciation of $88,134 and $2,938/yr in principal reduction project a total cumulative return of $163,383.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 11% | 7.2% |
| Monthly Cash Flow | $314 | $1,250 |
City averages based on Newark market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,912 |
| Total Monthly Debt Service | $2,147 |
| DSCR Ratio | 1.36x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 1989
2.83 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 07103, Newark, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,635 (100%) |
| Owner Occupied HU | 2,562 (16.4%) |
| Renter Occupied HU | 11,462 (73.3%) |
| Vacant Housing Units | 1,611 (10.3%) |
| Median Home Value | $343,782 |
| Average Home Value | $411,663 |
Housing Distribution
Address Breakdown
Residential
11,815
Single Family
7,659
Multi-Family
4,156
Businesses
947
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
Condo
Built in 1989
2.83 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 07103, Newark, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,635 (100%) |
| Owner Occupied HU | 2,562 (16.4%) |
| Renter Occupied HU | 11,462 (73.3%) |
| Vacant Housing Units | 1,611 (10.3%) |
| Median Home Value | $343,782 |
| Average Home Value | $411,663 |
Housing Distribution
Address Breakdown
Residential
11,815
Single Family
7,659
Multi-Family
4,156
Businesses
947
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: William Barraza • Keller Williams - Nj Metro Group
Mls Name: GSMLS
Mls ID: #4008625