322 Hoover Ave BLDG 5 #73BloomfieldNJ07003
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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 322 Hoover Ave BLDG 5 #73, Bloomfield, NJ, 07003 uses $92,820 cash to close to unlock $2,048/yr annual cash flow and $171/mo monthly cash flow. Total monthly income runs $2,166/mo, and a $1,370/mo payment keeps the spread at $171/mo. Purchase price stands at $279,999, and rental yield measures 9.28% with $2,166/mo rent. Return on cash invested shows 22.12% in year one, and 5% annual appreciation builds toward $77,359 over five years. Five-year ROI reaches 115.91% and total cumulative return in cash records $107,588. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,166/mo property income covering a $1,370/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: Mahmoud Ijbara • Gild Realty
Mls Name: GSMLS
Mls ID: #3990289