902 Ocean Dr #703Cape 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 #703, Cape May, NJ, 08204 offers a 5.12% rental yield on a $699,999 purchase with $2,986/mo rent. 62% in year one. Equity gained on principal adds $4,517/yr while 5% annual appreciation supports $193,397 over five years. Portfolio math shows five-year ROI at 48.89% and total cumulative return in cash at $112,599. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,986/mo property income against a $3,426/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
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: Mary Hinchcliffe • deSatnick Real Estate LLC - Cape May
Mls Name: CMCAOR
Mls ID: #252321