785 Summit AveRiver EdgeNJ07661
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
Investment Highlights
Investment property for sale in River Edge at 785 Summit Ave, River Edge, NJ, 07661 offers a 7.29% rental yield on a $990,000 purchase with $6,018/mo rent. 23% in year one. Equity gained on principal adds $6,388/yr while 5% annual appreciation supports $273,519 over five years. Portfolio math shows five-year ROI at 84.33% and total cumulative return in cash at $274,664. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $6,018/mo property income against a $4,846/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1907
9,147 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 07661, River Edge, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,245 (100%) |
| Owner Occupied HU | 3,066 (72.2%) |
| Renter Occupied HU | 1,056 (24.9%) |
| Vacant Housing Units | 123 ( 2.9%) |
| Median Home Value | $674,578 |
| Average Home Value | $722,772 |
Housing Distribution
Address Breakdown
Residential
4,279
Single Family
3,871
Multi-Family
408
Businesses
328
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Kimberly Fleak • Coldwell Banker Realty Wyk
Mls Name: GSMLS
Mls Provider:
Mls ID: #3924106
Disclaimer: The data relating to real estate for sale on this website comes in part from the IDX Program of Garden State Multiple Listing Service, L.L.C. Real estate listings held by other brokerage firms are marked as IDX Listing. Information deemed reliable but not guaranteed. Copyright 2024 Garden State Multiple Listing Service, L.L.C. All rights reserved. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.