298 Hoover Ave APT 28BloomfieldNJ07003
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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
Rental property for sale in Bloomfield at 298 Hoover Ave APT 28, Bloomfield, NJ, 07003 generates $2,880/mo in rent and, after a $1,664/mo payment, leaves $457/mo in cash flow. Total monthly income is $2,880/mo, and annual cash flow is $5,480/yr on $112,710 invested. Return on cash invested sits at 24.77% in year one, and rental yield is 10.16% on a $339,999 entry. Equity gained on principal adds $2,194/yr, while 5% annual appreciation builds toward $93,935 over five years. Five-year ROI reaches 130.15% and total cumulative return in cash sums $146,694. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,880/mo property income rather than buyer’s personal income.
Townhouse
Built in N/A
N/A lot
$N/A/sqft
No HOA
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 |
Housing Distribution
Address Breakdown
Residential
20,440
Single Family
14,128
Multi-Family
6,312
Businesses
1,460
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Listed by: Karen Glowacki • Berkshire Hathaway Home Services Gross & Jansen Realtors, Sparta
Mls Name: NJMLS
Mls ID: #25035282