1620 E 2nd St APT 5G, Brooklyn, NY, 11230 | $1,244/mo Cash Flow

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1620 E 2nd St APT 5G, Brooklyn, NY, 11230 | $1,244/mo Cash Flow | 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 1620 E 2nd St APT 5G, Brooklyn, NY, 11230 generates $4,608/mo in rent and, after a $2,193/mo payment, leaves $1,244/mo in cash flow. Total monthly income is $4,608/mo, and annual cash flow is $14,929/yr on $148,512 invested. Return on cash invested sits at 29.96% in year one, and rental yield is 12.34% on a $448,000 entry. Equity gained on principal adds $2,891/yr, while 5% annual appreciation builds toward $123,774 over five years. Five-year ROI reaches 158.5% and total cumulative return in cash sums $235,394. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $4,608/mo property income rather than buyer’s personal income.

Condo

Built in 1941

N/A lot

$N/A/sqft

$372 monthly HOA

More details about the property

INVESTOR FRIENDLY Spacious and open living room with an oversized bedroom, converted to 2 legal bedrooms. Non-obstructing windows facing out East in bedroom, bathroom, and bedrooms, providing substantial light. Renovations to the original floor plan also include opening the hallway and creating an extra closet for a more open concept and storage. The living room includes a mini-split air-conditioner and bedrooms have updated window AC units. The unit has low property taxes and common charges making it a great investment. Free market rentals in this building average $1800+ 1620 East 2nd Street is a condominium in an elevator building located in Midwood. This well-maintained building includes a recently updated elevator, heat boiler, and security cameras on every floor. Steps away from restaurants and cafes. Public transportation is around the corner on the F train & B9 bus.

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