209 E 56th St APT 5K, New York, NY, 10022 | 8.36% Rental Yield

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209 E 56th St APT 5K, New York, NY, 10022 | 8.36% Rental Yield | 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

Total monthly income runs $2,710/mo, and a $1,904/mo payment. Purchase price stands at $389,000, and rental yield measures 8.36% with $2,710/mo rent. Return on cash invested shows 8.8% in year one, and 5% annual appreciation builds toward $107,474 over five years. Five-year ROI reaches 48.35% and total cumulative return in cash records $62,346. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,710/mo property income covering a $1,904/mo payment rather than investor’s personal income.

Condo

Built in 1960

N/A lot

$N/A/sqft

$1,306 monthly HOA

More details about the property

Value is the name of the game at this oversized alcove studio in the heart of Midtown. The open plan living room has room for you to spread out and relax as well as a full dining area and home office. The galley kitchen awaits your touch to bring it to perfection. The sleeping alcove easily fits a queen sized bed and can be converted into a real bedroom. A roomy dressing area leads into the master bath. Hardwood floors throughout. The apartment has tons of storage (four large closets). Light comes in from wall to wall North facing windows. Located at The Sterling, one of Midtown East's best full service buildings. You are near great restaurants like The Shadmor, Smith & Wollensky, Felidia, and Crave Fish Bar, great shopping such as Bloomingdale's , the Apple flagship store, Home Depot, Trader Joe's, and Whole Foods, and a short walk from Central Park. Manhattan's first Super Target is on its way too! Commuting is easy when you are near eight subway lines and the Second Avenue Select Bus. There is a huge common roof deck with nice views of the skyline, live in super, a 24 hour doorman with package delivery, and a large common laundry room. All hallways and the lobby have been recently renovated. Pet friendly. Pied--terres and co-purchasing is permitted. A video tour is available upon request. Stop by and take a look! . Some pictures have been virtually staged.

Neighborhood Data

Neighborhood data shown for ZIP Code: 10022, New York, NY area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	27,279 (100%)
Owner Occupied HU	11,002 (40.3%)
Renter Occupied HU	11,015 (40.4%)
Vacant Housing Units	5,262 (19.3%)
Median Home Value	$1,223,949
Average Home Value	$1,331,078