371 W Passaic AveBloomfieldNJ07003
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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 at 371 W Passaic Ave, Bloomfield, NJ, 07003 priced at $589,000 converts $3,914/mo rent into after a $2,883/mo obligation. Total monthly income equals $3,914/mo. Return on cash invested prints 18.3% in year one, and rental yield reads 7.97% against a $589,000 entry. Equity gained on principal adds $3,801/yr, while 5% annual appreciation compiles into $162,730 by year five. Five-year ROI reaches 95.42% and total cumulative return in cash sums $184,910. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $3,914/mo property income covering a $2,883/mo payment, not borrower’s personal income.
Single Family
Built in 1958
6,098 sqft 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: Stephanie Radecki • Prominent Properties Sir
Mls Name: GSMLS
Mls ID: #4000374