340 Concord Pl APT 4Bloomfield 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 4, Bloomfield Hills, MI, 48304 priced at $179,000 pairs $1,638/mo rent with $458/mo cash flow after a $876/mo payment. Total monthly income equals $1,638/mo, and annual cash flow comes to $5,492/yr on $59,339 invested. Return on cash invested is 29.17% in year one, and rental yield stands at 10.98% on a $179,000 basis. Equity gained on principal adds $1,155/yr, and 5% annual appreciation accumulates to $49,454 by year five. Five-year ROI measures 153.03% and total cumulative return in cash reaches $90,807. For financing, Ziffy Mortgage’s DSCR program evaluates $1,638/mo property income against a $876/mo payment instead of your W2s, 1099s, or Tax returns.
Condo
Built in 1963
N/A lot
$N/A/sqft
No 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: Johnnie Gaines • Community Choice Realty Inc
Mls Name: Realcomp II
Mls Provider:
Mls ID: #20250004947
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 2025-02-15 22:26:47 PST Listing Information presented by local MLS brokerage: Zillow, Inc., REALTOR- Lauren Buttazzoni - (313) 479-2702