902 Ocean Dr #222Cape 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
Rental property for sale in Cape May at 902 Ocean Dr #222, Cape May, NJ, 08204 generates $3,827/mo in rent, after a $8,560/mo payment. Total monthly income is $3,827/mo. Return on cash invested sits at 2.08% in year one, and rental yield is 2.63% on a $1,749,000 entry. Equity gained on principal adds $11,286/yr, while 5% annual appreciation builds toward $483,216 over five years. Five-year ROI reaches 8.37% and total cumulative return in cash sums $47,431. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $3,827/mo property income rather than buyer’s personal income.
Condo
Built in 2004
N/A 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: Dominika Morrow • BLUE HOMES REAL ESTATE LLC
Mls Name: CMCAOR
Mls ID: #252565