298 Hoover Ave BLDG 2 #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
Investment property for sale in Bloomfield at 298 Hoover Ave BLDG 2 #28, Bloomfield, NJ, 07003 uses $112,710 cash to close to unlock $8,060/yr annual cash flow and $672/mo monthly cash flow. Total monthly income runs $3,095/mo, and a $1,664/mo payment keeps the spread at $672/mo. Purchase price stands at $339,999, and rental yield measures 10.92% with $3,095/mo rent. Return on cash invested shows 27.06% in year one, and 5% annual appreciation builds toward $93,935 over five years. Five-year ROI reaches 142.42% and total cumulative return in cash records $160,518. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $3,095/mo property income covering a $1,664/mo payment rather than investor’s personal income.
Condo
Built in 1971
3.02 Acres 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: Karl Pavan • Bhhs Gross And Jansen Realtors
Mls Name: GSMLS
Mls ID: #3989489