1040 Neilson Street #3B3Far 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 Street #3B3, Far Rockaway, NY, 11691 listed at $160,000 pairs $1,285/mo rent with a $783/mo payment to leave $217/mo cash flow. Total monthly income runs $1,285/mo, and annual cash flow reaches $2,600/yr on $53,040 cash to close. Return on cash invested measures 24.81% in year one, and rental yield registers 9.64% at a $160,000 basis. Equity gained on principal adds $1,032/yr, and annual property appreciation at 5% supports $44,205 by year five. Five-year ROI tracks 129.82% and total cumulative return in cash totals $68,858. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,285/mo property income relative to a $783/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Condo
Built in 1960
N/A lot
$N/A/sqft
No 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: Todd A. Yovino • Island Advantage Realty LLC
Mls Name: OneKey MLS
Mls Provider:
Mls ID: #913165
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