118 Sterling Pl APT 1C, Brooklyn, NY, 11217 | 6.42% Rental Yield

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118 Sterling Pl APT 1C, Brooklyn, NY, 11217 | 6.42% Rental Yield | Ziffy

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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

Rental property for sale in Brooklyn at 118 Sterling Pl APT 1C, Brooklyn, NY, 11217 priced at $899,000 pairs $4,810/mo rent with after a $4,400/mo payment. Total monthly income equals $4,810/mo. Return on cash invested is 12.75% in year one, and rental yield stands at 6.42% on a $899,000 basis. Equity gained on principal adds $5,801/yr, and 5% annual appreciation accumulates to $248,377 by year five. Five-year ROI measures 65.97% and total cumulative return in cash reaches $195,118. For financing, Ziffy Mortgage’s DSCR program evaluates $4,810/mo property income against a $4,400/mo payment instead of your W2s, 1099s, or Tax returns.

Condo

Built in 1920

N/A lot

$N/A/sqft

$608 monthly HOA

More details about the property

Welcome home to your turnkey North Park Slope two bedroom condominium with new in unit washer and dryer. 118 Sterling Pl. #1C is located on one of Brooklyn's most sought after tree-lined blocks and has been newly painted with redone hardwood floors and offers the perfect floor plan for modern living. Ideally nestled in the corner of a pre-war limestone building this apartment features a two exposure living and dining room combination with high sound-proofed ceilings, exposed brick and sunlight all day long. The windowed kitchen flows just off the living area and is an entertainer's dream with new gas range and new refrigerator plus granite countertops, built-in microwave, dishwasher and ample cabinet space. Thoughtfully separated from the living area are the two bedrooms and a centrally located bathroom. New in unit washer and dryer, a dedicated storage unit and bicycle storage in the basement complete this amazing apartment. 118 Sterling Pl. is a well maintained 16 unit boutique condominium building at the entrance of highly sought after North Park Slope. The building is pet friendly and budget friendly with low common charges. Many of Brooklyn's best restaurants and most popular boutiques are all right here as are the Brooklyn Museum, Brooklyn Central Library, Botanic Garden, Barclays Center, the Greenmarket at Grand Army Plaza as well as world famous Prospect Park. The B/Q express trains are just a block away for an ultra-fast commute into Manhattan and also close by is the 2/3 at Bergen St. plus the D/N/R/4/5 and LIRR at Atlantic Avenue/Barclays Center.

Neighborhood Data

Neighborhood data shown for ZIP Code: 11217, Brooklyn, NY area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	24,719 (100%)
Owner Occupied HU	5,268 (21.3%)
Renter Occupied HU	17,323 (70.1%)
Vacant Housing Units	2,128 ( 8.6%)
Median Home Value	$1,753,412
Average Home Value	$1,604,739