9 Somerset Ln UNIT 508-509EdgewaterNJ07020
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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 Edgewater at 9 Somerset Ln UNIT 508-509, Edgewater, NJ, 07020 generates $12,190/mo in rent, after a $8,321/mo payment. Total monthly income is $12,190/mo. Return on cash invested sits at 16.3% in year one, and rental yield is 8.6% on a $1,699,999 entry. Equity gained on principal adds $10,970/yr, while 5% annual appreciation builds toward $469,678 over five years. Five-year ROI reaches 86.2% and total cumulative return in cash sums $474,787. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $12,190/mo property income rather than buyer’s personal income.
Condo
Built in N/A
N/A lot
$N/A/sqft
$1,939 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 07020, Edgewater, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,338 (100%) |
| Owner Occupied HU | 2,578 (35.1%) |
| Renter Occupied HU | 4,135 (56.4%) |
| Vacant Housing Units | 625 ( 8.5%) |
| Median Home Value | $847,464 |
| Average Home Value | $933,297 |
Housing Distribution
Address Breakdown
Residential
7,398
Single Family
2,466
Multi-Family
4,932
Businesses
590
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Listed by: Michael Hern • PROMINENT PROPERTIES SOTHEBY'S INTERNATIONAL REALTY
Mls Name: HCMLS
Mls ID: #240009128
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.