1138 Ocean Ave APT 7G, Brooklyn, NY, 11230 | $120/mo Cash Flow

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1138 Ocean Ave APT 7G, Brooklyn, NY, 11230 | $120/mo Cash Flow | Ziffy

For Sale

Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Investment property for sale in Brooklyn at 1138 Ocean Ave APT 7G, Brooklyn, NY, 11230 offers a 8.18% rental yield on a $870,000 purchase with $5,929/mo rent. Total monthly income registers $5,929/mo, and a $4,258/mo payment leaves $120/mo available for distribution. Annual cash flow reaches $1,434/yr on $286,230 to close, and return on cash invested stands at 20.56% in year one. Equity gained on principal adds $5,614/yr while 5% annual appreciation supports $240,365 over five years. Portfolio math shows five-year ROI at 106.96% and total cumulative return in cash at $306,145. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $5,929/mo property income against a $4,258/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.

Condo

Built in 2011

N/A lot

$N/A/sqft

No HOA

More details about the property

Welcome to Residence 7G at The Waterfalls - a spacious, sun-filled home offering indoor deeded parking, in-unit laundry, and the added benefit of an 11-year tax abatement. This beautifully maintained 2-bedroom plus a windowed bonus room that offers exceptional flexibility for guests, a home office, or a nursery. Set at the rear of the building, the home enjoys tranquil treetop views and a peaceful backdrop of the Victorian homes that define the charming Ditmas Park neighborhood. With 1,228 sq ft of well-designed living space, the layout features an open kitchen, generous proportions throughout, and a large private terrace perfect for relaxing or entertaining. Solid oak hardwood floors run seamlessly across the home and remain in excellent condition. The Waterfalls is a full-service, pet-friendly condominium known for comfort, convenience, and value. Residents enjoy a daily doorman from 8 AM to 8 PM, a live-in superintendent, a fully equipped gym, a serene residents' lounge available for private events, and a beautifully landscaped outdoor area complete with an artificial-turf play space. Perfectly located near multiple transportation options-including the B/Q trains, the B49 and B8 buses, and the BM3/4 express buses-you'll have easy access to Manhattan and the rest of Brooklyn. Brooklyn College and a variety of local shops and conveniences are moments away. Residence 7G combines space, amenities, and long-term value-offering an ideal home in one of Brooklyn's most picturesque neighborhoods.

Neighborhood Data

Neighborhood data shown for ZIP Code: 11230, Brooklyn, NY area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	30,949 (100%)
Owner Occupied HU	8,697 (28.1%)
Renter Occupied HU	20,273 (65.5%)
Vacant Housing Units	1,979 ( 6.4%)
Median Home Value	$998,288
Average Home Value	$1,138,275