Real Estate Investing in Wanaque, New Jersey (07420)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 07420 (Wanaque, NJ)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Wanaque, NJ (07420)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 07420 Wanaque
On balance, ZIP 07420 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $507K median. It rewards specialists, not generalists.
Distressed markets are won on execution, not on spreadsheets. ZIP 07420 reflects the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Within NJ, ZIP 07420 trails on several market indicators that neighboring Passaic County submarkets outperform. The gap is real and solid enough to shape underwriting.
Resident income in 07420 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
The right play in 07420 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Wanaque:
Property Strategy for 07420
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $457,843 | $2,430 | 3.8% | +10.1% | $228,922 |
| 3BR | $491,449 | $2,960 | 4.3% | +9.2% | $163,816 |
| 4BR | $519,395 | $3,780 | 5.2% | +9.2% | $129,849 |
Market Trends
Home Value History (with trend line)
📊 How Does 07420 Compare?
| Metric | 07420 | Wanaque | New Jersey |
|---|---|---|---|
| Home Value | $506,841 | $515,221 | $559,826 |
| 5-Year CAGR | 7.0% | 5.5% | 8.4% |
| Avg Rent | $2,187 | $2,399 | - |
| Cap Rate | 3.4% | 3.6% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 07420 (Wanaque, NJ). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $506,841 |
| Monthly Rent | $2,187 |
| Price-to-Rent | 19.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.2% |
| Cap Rate | 3.4% |
| 5-Year IRR | 10.3% |
📈 Home Appreciation
| 1-Year | +6.1% ▲ |
| 3-Year CAGR | +6.6% ▲ |
| 5-Year CAGR | +7.0% ▲ |
| 10-Year CAGR | +7.3% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.4%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 07420
Population: 5,235
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 07420
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Lakeside School
Lincoln School
Wanaque Elementary School
Lakeland Regional High School
Martha B. Day Elementary School
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 2,289 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How much is rent in Wanaque, NJ?
Expect rents around $2,187/mo per month in Wanaque, NJ. With home values at $507K, the yield math works out to reasonable levels for rental investors.
What is the typical vacancy rate in Wanaque, NJ?
Wanaque, NJ sees elevated vacancy, which is reasonable relative to the broader NJ rental market.
What kind of market is Wanaque, NJ for investors?
Wanaque, NJ sits at an investability rating of 3.0/5, with median home values near $507K and average rents around $2,187/mo. That combination puts it in the significant tier for investor interest.
Is rental property easy to operate in Wanaque, NJ?
Wanaque, NJ operates under NJ law, which is tenant-protective overall for landlords. Expect reliable treatment in typical lease and eviction cases.
How do experienced investors play Wanaque, NJ?
Investors usually favor careful cash-flow rentals with hands-on management in Wanaque, NJ. With home values at $507K and rents near $2,187/mo, other strategies can work but produce reliable rather than outsized returns.
You know 07420 now. You don’t know where it ranks.
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How 07420 ranks in New York-Newark-Jersey City, NY-NJ-PA
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