71 Broad St, Summit, NJ, 07901 | 7.03% Rental Yield

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Monthly Cash Flow: 1 - 3k+

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71 Broad St, Summit, NJ, 07901 | 7.03% Rental Yield | Ziffy

For Sale

Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Rental property for sale in Summit at 71 Broad St, Summit, NJ, 07901 offers $4,211/mo rent that, after a $3,519/mo payment. Total monthly income is $4,211/mo. Return on cash invested measures 15.42% in year one, and rental yield stands at 7.03% at a $719,000 entry. Equity gained on principal adds $4,640/yr while 5% annual appreciation compounds into $198,646 by year five. Five-year ROI records 80.01% and total cumulative return in cash reaches $189,269. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $4,211/mo property income versus a $3,519/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.

Multi Family

Built in 1916

7,840 sqft lot

$N/A/sqft

No HOA

More details about the property

Excellent opportunity in Summit! This 2-family home with tremendous potential on an oversized lot is being sold strictly as is and is ready for your vision. The large lot runs street-to-street from Broad to Dayton, with driveways on both sides plus a garage?ideal for separate parking or future expansion. Current layout features a 3BR unit upstairs and 1BR unit downstairs, with basement laundry, deck, patio, and fenced in backyard. Prime location just blocks to Midtown Direct train, downtown Summit, and top-rated schools. Live in one unit and rent the other, keep as a 2-family income property, or explore conversion to a single-family home. Rare find at this price point in one of NJ?s most desirable markets.

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