396 Concord Pl APT 3Bloomfield HillsMI48304
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeInvestors who treat current yield as secondary to long-run equity growth will find 396 Concord Pl APT 3, Bloomfield Hills, MI, 48304 in Bloomfield Hills worth modelling. At $209,100 with a 8.29% gross yield, the $1,445/mo rent leaves $66/mo after the $940/mo payment, sufficient to cover costs, modest in distribution. Ziffy Mortgage's 1.54 DSCR loan can finance the acquisition without personal income documentation. Appreciation of 5%/yr is projected to add $57,770 by year five; $1,926/yr in principal reduction adds further equity. Total projected return: $83,951.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.3% | 7.0% |
| Monthly Cash Flow | $66 | $800 |
City averages based on Bloomfield Hills market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,445 |
| Total Monthly Debt Service | $1,296 |
| DSCR Ratio | 1.12x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Donna M Barlow • Signature Sotheby's International Realty Bham
Mls Name: Realcomp II
Mls ID: #20251037847