2 Grove St APT 3B, New York, NY, 10014 | $4,166/mo Cash Flow

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2 Grove St APT 3B, New York, NY, 10014 | $4,166/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 New York at 2 Grove St APT 3B, New York, NY, 10014 offers $9,052/mo rent that, after a $2,888/mo payment, leaves $4,166/mo cash flow. Total monthly income is $9,052/mo, and annual cash flow is $49,990/yr on $194,110 cash. Return on cash invested measures 45.81% in year one, and rental yield stands at 18.41% at a $590,000 entry. Equity gained on principal adds $3,807/yr while 5% annual appreciation compounds into $163,006 by year five. Five-year ROI records 244.48% and total cumulative return in cash reaches $474,568. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $9,052/mo property income versus a $2,888/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.

Condo

Built in 1940

N/A lot

$N/A/sqft

$946 monthly HOA

More details about the property

Deal fell through, back on market for showings. Discover Charming Village Living at 2 Grove Street, Unit 3B Experience the essence of West Village charm in this inviting studio apartment, nestled on one of the most picturesque streets in the area, this home is the perfect fusion of classic pre-war character and modern conveniences. Apartment Features: -Thoughtful Layout: Enjoy a spacious studio that feels like home, featuring three large closets for ample storage, a separate kitchen equipped with a dishwasher, microwave and elegant wood floors throughout. -Charming Views: The living area features a window that offers a view of Hudson Street, adorned with lush greenery, embodying the iconic New York City charm with a glimpse of a classic fire escape that adds to the urban aesthetic without impeding the view. -Low Monthly Maintenance: Benefit from a low maintenance charge, adding incredible value to your city living experience. Building Amenities: -Full-Service Features: This boutique elevator building offers a suite of amenities including a bike room, tenant storage, a common garden, a live-in super, and laundry facilities. -Convenient Location: Just steps away from world-class dining, boutique shopping, specialty food markets, quaint cafes, and hidden bookstores. Major subway lines are also a short walk away, ensuring easy access to anywhere in the city. Additional Information: -Flexible Ownership Options: Parental gifting and guarantors allowed, providing flexibility for a range of financial situations. -Financing: 80% financing allowed. Parental participation in co-op loans is permitted, however, only full-time primary residents can be listed on the lease. -Subletting allowed after 2 years of ownership (allowed for 3 out of 5 years at a time) Please Note: Dogs and pied--terre usage are not permitted in this building. Make West Village Your Home: Unit 3B at 2 Grove Street is more than just an apartmentit's a gateway to a lifestyle embraced by culture, comfort, and convenience. Embrace your chance to own a piece of West Village, a neighborhood renowned for its vibrant history and charming atmosphere.

Neighborhood Data

Neighborhood data shown for ZIP Code: 10014, New York, NY area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	21,730 (100%)
Owner Occupied HU	5,412 (24.9%)
Renter Occupied HU	13,475 (62.0%)
Vacant Housing Units	2,843 (13.1%)
Median Home Value	$1,392,361
Average Home Value	$1,447,235