28 Morse Ave, Bloomfield, NJ, 07003 | $654/mo Cash Flow

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28 Morse Ave, Bloomfield, NJ, 07003 | $654/mo Cash Flow | Ziffy

For Sale

Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Investment property for sale in Bloomfield at 28 Morse Ave, Bloomfield, NJ, 07003 with 5% annual appreciation on a $649,000 basis while $5,280/mo rent supports operations. Total monthly income totals $5,280/mo and a $3,177/mo payment preserves $654/mo for cash returns. Annual cash flow comes to $7,843/yr on $213,521 deployed, and return on cash invested reaches 23.73% in year one. Equity gained on principal adds $4,188/yr, and five-year appreciation sums $179,307 alongside rental yield of 9.76%. Five-year ROI measures 124.56% and total cumulative return in cash totals $265,968.

Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $5,280/mo property income versus a $3,177/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.

Single Family

Built in 1912

4,791 sqft lot

$N/A/sqft

No HOA

More details about the property

This 5-BR colonial turn-of-the-century beauty is an architectural gem, & located in the fantastic Watsessing Park neighborhood of Bloomfield! Breezy front porch opens to spacious and unique foyer- w/ built-in seating, parquet floors, leaded glass & intricate mouldings. Original Edwardian opulence is showcased in the wood columns framing the sunny LR. French doors lead to a relaxing den/office w/ ceiling fan. The formal DR has pocket doors, brick FP, beamed ceiling, plate rail & stunning built-in window seats.The kitchen sports original subway tiles, butler pantry, & mud room off of the rear porch. Upstairs, the 2nd fl has 4 good size BRs, full bath & linen closet. 3rd floor offers a 5th BR and a GREAT opportunity to finish a large walk-in attic for an additional bathroom, office, laundry room, rec room, you name it! Partially finished basement has laundry, storage, PR, utilities room, & bonus room. Easy access through the basement to the attached 2-car garage. Updated 200 amp panel offers potential for adding central AC, too! Great corner lot features a good-size yard and mature plantings all around. Conveniently located near Carteret & Watsessing Parks, Bloomfield train station (only 10-12 minute walk), and 23 Skidoo Cafe (A neighborhood fav!) around the corner. THIS is the one!

Neighborhood Data

Neighborhood data shown for ZIP Code: 07003, Bloomfield, NJ area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	22,968 (100%)
Owner Occupied HU	10,598 (46.1%)
Renter Occupied HU	11,569 (50.4%)
Vacant Housing Units	801 ( 3.5%)
Median Home Value	$487,407
Average Home Value	$534,557