340 Concord Pl APT 2Bloomfield HillsMI48304
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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 Hills at 340 Concord Pl APT 2, Bloomfield Hills, MI, 48304 offers $1,391/mo rent that, after a $881/mo payment. Total monthly income is $1,391/mo. Return on cash invested measures 18.18% in year one, and rental yield stands at 9.27% at a $180,000 entry. Equity gained on principal adds $1,162/yr while 5% annual appreciation compounds into $49,731 by year five. Five-year ROI records 96.2% and total cumulative return in cash reaches $57,401. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,391/mo property income versus a $881/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Condo
Built in 1963
N/A lot
$N/A/sqft
$290 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48304, Bloomfield Hills, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,413 (100%) |
| Owner Occupied HU | 6,231 (84.1%) |
| Renter Occupied HU | 716 ( 9.7%) |
| Vacant Housing Units | 466 ( 6.3%) |
| Median Home Value | $542,792 |
| Average Home Value | $707,910 |
Housing Distribution
Address Breakdown
Residential
7,083
Single Family
6,999
Multi-Family
84
Businesses
463
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Listed by: Francine Kanalos • Epique Realty
Mls Name: Realcomp II
Mls Provider:
Mls ID: #20250022071
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 2025-04-04 08:18:44 PDT Listing Information presented by local MLS brokerage: Zillow, Inc., REALTOR- Lauren Buttazzoni - (313) 479-2702