2449 Mulberry Sq APT 31Bloomfield HillsMI48302
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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 Bloomfield Hills at 2449 Mulberry Sq APT 31, Bloomfield Hills, MI, 48302 uses $59,637 cash to close to unlock $2,834/yr annual cash flow and $236/mo monthly cash flow. Total monthly income runs $1,423/mo, and a $881/mo payment keeps the spread at $236/mo. Purchase price stands at $179,900, and rental yield measures 9.49% with $1,423/mo rent. Return on cash invested shows 24.66% in year one, and 5% annual appreciation builds toward $49,703 over five years. Five-year ROI reaches 128.94% and total cumulative return in cash records $76,893. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,423/mo property income covering a $881/mo payment rather than investor’s personal income.
Condo
Built in 1969
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48302, Bloomfield Hills, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,444 (100%) |
| Owner Occupied HU | 5,900 (79.3%) |
| Renter Occupied HU | 1,060 (14.2%) |
| Vacant Housing Units | 484 ( 6.5%) |
| Median Home Value | $647,789 |
| Average Home Value | $792,258 |
Housing Distribution
Address Breakdown
Residential
6,942
Single Family
6,794
Multi-Family
148
Businesses
766
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Listed by: Elizabeth L Schlum • Max Broock, REALTORS-Birmingham
Mls Name: Realcomp II
Mls ID: #20251056572