89 Elm StMontclairNJ07042
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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
Investment Highlights
Rental property for sale in Montclair at 89 Elm St, Montclair, NJ, 07042 priced at $949,000 converts $7,949/mo rent into $1,185/mo cash flow after a $4,645/mo obligation. Total monthly income equals $7,949/mo, and annual cash flow totals $14,215/yr on $312,221 invested. Return on cash invested prints 24.61% in year one, and rental yield reads 10.05% against a $949,000 entry. Equity gained on principal adds $6,124/yr, while 5% annual appreciation compiles into $262,191 by year five. Five-year ROI reaches 129.27% and total cumulative return in cash sums $403,620. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $7,949/mo property income covering a $4,645/mo payment, not borrower’s personal income.
Single Family
Built in 1887
8,120 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 07042, Montclair, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,932 (100%) |
| Owner Occupied HU | 5,166 (43.3%) |
| Renter Occupied HU | 6,248 (52.4%) |
| Vacant Housing Units | 518 ( 4.3%) |
| Median Home Value | $820,298 |
| Average Home Value | $907,117 |
Housing Distribution
Address Breakdown
Residential
11,323
Single Family
7,828
Multi-Family
3,495
Businesses
1,455
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Listed by: Paul Gold • Prominent Properties Sir
Mls Name: GSMLS
Mls ID: #3994706