Asset Based Lending recently funded a DSCR rental loan for a first time borrower in Irvington New Jersey. This property is a multifamily with 5 residential units and 1 commercial unit. This borrower is a new real estate investor who was referred to us by a repeat borrower. This borrower used our DSCR loan to purchase a multifamily rental property to hold in their portfolio and collect monthly income. With a DSCR of 1.18, this property is already generating positive cashflow for this investor. The borrower purchased this recently renovated property already having tenants in place paying market rent for their units. Rental properties in Irvington NJ are valuable addition to any real estate portfolio as 72% of residents in this city rent their homes versus owning. The average rent ranges from $1,000 to $1,500 per unit, depending on size and location. Irvington is conveniently located less than 20 miles from midtown Manhattan and offers residents the ease of public transportation, making it the perfect location for people commuting between states.