2 Richmond Road #3bLong BeachNY11561
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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
Rental property for sale in Long Beach at 2 Richmond Road #3b, Long Beach, NY, 11561 priced at $499,876 converts $3,004/mo rent into after a $2,447/mo obligation. Total monthly income equals $3,004/mo. Return on cash invested prints 17.49% in year one, and rental yield reads 7.21% against a $499,876 entry. Equity gained on principal adds $3,226/yr, while 5% annual appreciation compiles into $138,107 by year five. Five-year ROI reaches 90.5% and total cumulative return in cash sums $149,969. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $3,004/mo property income covering a $2,447/mo payment, not borrower’s personal income.
Condo
Built in 1978
8.73 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 11561, Long Beach, NY area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,839 (100%) |
| Owner Occupied HU | 9,807 (52.1%) |
| Renter Occupied HU | 7,217 (38.3%) |
| Vacant Housing Units | 1,815 ( 9.6%) |
| Median Home Value | $782,079 |
| Average Home Value | $830,581 |
Housing Distribution
Address Breakdown
Residential
16,421
Single Family
10,519
Multi-Family
5,902
Businesses
857
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Listed by: Thomas Tripodi • Douglas Elliman Real Estate
Mls Name: OneKey MLS
Mls ID: #953336