1040 Neilson St APT 6JFar 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
Rental property for sale in Far Rockaway at 1040 Neilson St APT 6J, Far Rockaway, NY, 11691 generates $2,582/mo in rent and, after a $489/mo payment, leaves $1,103/mo in cash flow. Total monthly income is $2,582/mo, and annual cash flow is $13,232/yr on $33,150 invested. Return on cash invested sits at 59.82% in year one, and rental yield is 30.98% on a $100,000 entry. Equity gained on principal adds $645/yr, while 5% annual appreciation builds toward $27,628 over five years. Five-year ROI reaches 328.23% and total cumulative return in cash sums $108,808. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,582/mo property income rather than buyer’s personal income.
Condo
Built in 1960
N/A lot
$N/A/sqft
$812 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: #S1746044