Northern NJ Rental Markets

[Jonathan Cavallone]

Hello everyone! New to the BP forum but definitely not new to BP! I just graduated college and am ready to buy my first investment property in Northern NJ. I am pre-approved and ready to go. I have been making offers in the Hoboken/Jersey City area, but the places I am looking at are selling for too much for the numbers to make sense. I am looking for something in the 180-250 range but it seems as though the cash on cash return I would receive from most of these properties are in the low 4-6% range.

Northern NJ investors, what kind of cash on cash returns are you guys seeing on your properties where you are putting 20% down? What are some good cash flowing areas in Northern New Jersey? 

Any feedback is appreciated, thank you!