3029 E Ridge CtBloomfield 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 3029 E Ridge Ct, Bloomfield Hills, MI, 48302 offers a 2.91% rental yield on a $1,300,000 purchase with $3,154/mo rent. 51% in year one. Equity gained on principal adds $8,389/yr while 5% annual appreciation supports $359,166 over five years. Portfolio math shows five-year ROI at 15.84% and total cumulative return in cash at $66,723. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $3,154/mo property income against a $6,363/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1995
N/A lot
$N/A/sqft
$1,500 quarterly 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: Rebecca Sokol • DOBI Real Estate
Mls Name: Realcomp II
Mls Provider:
Mls ID: #20251032052
Disclaimer: IDX provided courtesy of Realcomp II Ltd. via Zillow, Inc and MLS Copyright 2025 Realcomp II Ltd. Shareholders IDX information is provided exclusively for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. The data relating to real estate properties on this website was last updated as recently as 2025-09-01 07:23:19 PDT Listing Information presented by local MLS brokerage: Zillow, Inc., REALTOR- Lauren Buttazzoni - (313) 479-2702