1040 Neilson St APT 6KFar RockawayNY11691
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowFew Far Rockaway rentals match the income profile of 1040 Neilson St APT 6K, Far Rockaway, NY, 11691. Listed at $100,000, gross rent is $2,736/mo and net cash flow is $1,374/mo, a 32.83% yield well above national averages. DSCR 6.08 means Ziffy Mortgage can approve your loan on the property's income alone, bypassing personal income verification. The 5% annual appreciation trend adds $27,628 by year five with $921/yr in annual principal reduction, projecting $129,581 in total cumulative return.
| This Property | National Avg | |
|---|---|---|
| Gross Rental Yield | 32.8% | 6.2% |
| Monthly Cash Flow | $1,374 | $180 |
National averages based on 2024–2025 U.S. residential rental market data. Content is user-generated and unverified.
DSCR Loan Qualification
| Monthly Rental Income | $2,736 |
| Total Monthly Debt Service | $1,322 |
| DSCR Ratio | 2.07x |
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 1960
N/A lot
$N/A/sqft
$694 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
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 1960
N/A lot
$N/A/sqft
$694 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices