Asset Based Lending recently funded a DSCR rental loan for a first-time borrower to purchase a 4-family property in Hamilton New Jersey. The borrower paid $415,000 for this property which appraised for the same value. This property has tenants already in place in all 4 units and is collecting $4,700 in monthly rent. With a DSCR of 1.39 this property is cash-flow positive and generating passive income for this rental property investor. In Hamilton NJ the rental market makes up 33% of the housing market and the rental prices have consistently trended above the national average making this area desirable for real estate investors looking for rental property. Its proximity to metropolitan areas like Trenton and Philadelphia provides job flexibility for tenants that settle down in this area.
