348 Hoover Ave #92BloomfieldNJ07003
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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 348 Hoover Ave #92, Bloomfield, NJ, 07003 offers a 10.86% rental yield on a $265,000 purchase with $2,398/mo rent. Total monthly income registers $2,398/mo, and a $1,297/mo payment leaves $509/mo available for distribution. Annual cash flow reaches $6,110/yr on $87,848 to close, and return on cash invested stands at 26.86% in year one. Equity gained on principal adds $1,710/yr while 5% annual appreciation supports $73,215 over five years. Portfolio math shows five-year ROI at 141.43% and total cumulative return in cash at $124,239. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,398/mo property income against a $1,297/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1971
4.40 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: Jonathan Greene • Streamline
Mls Name: GSMLS
Mls ID: #4005677