902 Ocean Dr #1504Cape MayNJ08204
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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
Investment property for sale in Cape May at 902 Ocean Dr #1504, Cape May, NJ, 08204 earns from $3,492/mo rent with a $4,493/mo payment. Total monthly income totals $3,492/mo. ROI tracks 7.94% on current figures, and rental yield reads 4.56% at a $918,000 purchase. Equity gained on principal adds $5,924/yr, and 5% annual appreciation supports $253,626 over five years. Five-year ROI reaches 39.85% and total cumulative return in cash sums $120,347. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $3,492/mo property income instead of your personal income.
Condo
Built in 2005
1,772 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 08204, Cape May, NJ area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,314 (100%) |
| Owner Occupied HU | 5,777 (43.4%) |
| Renter Occupied HU | 1,718 (12.9%) |
| Vacant Housing Units | 5,819 (43.7%) |
| Median Home Value | $575,781 |
| Average Home Value | $665,846 |
Housing Distribution
Address Breakdown
Residential
9,319
Single Family
8,761
Multi-Family
558
Businesses
779
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Listed by: N/A • N/A
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