74 Mercer Ave, North Plainfield, NJ, 07060 | 6.57% Rental Yield

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

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74 Mercer Ave, North Plainfield, NJ, 07060 | 6.57% 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

Investment property for sale in North Plainfield at 74 Mercer Ave, North Plainfield, NJ, 07060 with 5% annual appreciation on a $724,900 basis while $3,970/mo rent supports operations. 04% in year one. Equity gained on principal adds $4,678/yr, and five-year appreciation sums $200,277 alongside rental yield of 6.57%. Five-year ROI measures 72.58% and total cumulative return in cash totals $173,109. Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $3,970/mo property income versus a $3,548/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.

Multi Family

Built in 1900

0.28 Acres lot

$N/A/sqft

No HOA

More details about the property

This gorgeous historic property has been lovingly cared for by its owner-occupants for over 30 years and is ready to welcome it's next stewards. Set on a large corner lot amongst mature trees with plenty of open yard space, the home has two large units in move-in condition. Offering a perfect blend of size and location, this home is an ideal investment for owner-occupants looking to enjoy this beautiful home or investors looking for high yield units for discerning tenants. This updated and comfortable home features hardwood floors and an abundance of natural light. Apt 1 occupies the entire first floor and enjoys a lovely front porch, 2 large bedrooms, and a full unfinished basement for storage. The generously sized living room has lovely historic details that have been well preserved, including a wood burning fireplace. Apt two occupies the entire second and third floors of the home. Featuring new carpets, a large eat-in kitchen, a living room with a wood burning fireplace, a sun porch that can be used as a lovely home office or den, and a large bonus room that could be used as a fourth bedroom or dining room. There is abundant off-street parking and a detached 2 car garage. The large, private yard is a unique asset for rentals of this size. This home was previously enjoyed as a large one-family home and could easily be converted back, while maintaining the legal 2 family designation. There is a whole house generator hook-up for a portable generator.

Neighborhood Data

Neighborhood data shown for ZIP Code: 07060, Plainfield, NJ area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	15,601 (100%)
Owner Occupied HU	6,224 (39.9%)
Renter Occupied HU	8,742 (56.0%)
Vacant Housing Units	635 ( 4.1%)
Median Home Value	$460,913
Average Home Value	$523,674