9 Pitman AvenueOcean GroveNJ07756
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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 Ocean Grove at 9 Pitman Avenue, Ocean Grove, NJ, 07756 offers $7,596/mo rent that, after a $8,805/mo payment. Total monthly income is $7,596/mo. Return on cash invested measures 9.61% in year one, and rental yield stands at 5.07% at a $1,799,000 entry. Equity gained on principal adds $11,609/yr while 5% annual appreciation compounds into $497,031 by year five. Five-year ROI records 48.78% and total cumulative return in cash reaches $284,301. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $7,596/mo property income versus a $8,805/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1875
2,613 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 07756, Ocean Grove, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,142 (100%) |
| Owner Occupied HU | 896 (28.5%) |
| Renter Occupied HU | 972 (30.9%) |
| Vacant Housing Units | 1,274 (40.5%) |
| Median Home Value | $923,181 |
| Average Home Value | $1,021,334 |
Housing Distribution
Address Breakdown
Residential
2,770
Single Family
2,161
Multi-Family
609
Businesses
180
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Listed by: Michelle Green • Jack Green Realty
Mls Name: MOMLS
Mls Provider:
Mls ID: #22425885
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.