1040 Neilson St APT 1JFar RockawayNY11691
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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 Far Rockaway at 1040 Neilson St APT 1J, Far Rockaway, NY, 11691 uses $33,150 cash to close to unlock $13,916/yr annual cash flow and $1,160/mo monthly cash flow. Total monthly income runs $2,582/mo, and a $489/mo payment keeps the spread at $1,160/mo. Purchase price stands at $100,000, and rental yield measures 30.98% with $2,582/mo rent. Return on cash invested shows 61.89% in year one, and 5% annual appreciation builds toward $27,628 over five years. Five-year ROI reaches 338.55% and total cumulative return in cash records $112,228. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,582/mo property income covering a $489/mo payment rather than investor’s personal income.
Condo
Built in 1960
N/A lot
$N/A/sqft
$755 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 11691, Far Rockaway, NY area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 23,618 (100%) |
| Owner Occupied HU | 5,020 (21.3%) |
| Renter Occupied HU | 17,299 (73.2%) |
| Vacant Housing Units | 1,299 ( 5.5%) |
| Median Home Value | $689,409 |
| Average Home Value | $749,322 |
Housing Distribution
Address Breakdown
Residential
20,297
Single Family
7,945
Multi-Family
12,352
Businesses
623
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Listed by: Michael I Blake • ERA Top Service Realty, Inc.
Mls Name: StreetEasy
Mls ID: #S1746033