21-23 Congdon RdShelter IslandNY11964
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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 Shelter Island at 21-23 Congdon Rd, Shelter Island, NY, 11964 priced at $1,995,000 converts $6,796/mo rent into after a $9,765/mo obligation. Total monthly income equals $6,796/mo. Return on cash invested prints 8.25% in year one, and rental yield reads 4.09% against a $1,995,000 entry. Equity gained on principal adds $12,873/yr, while 5% annual appreciation compiles into $551,182 by year five. Five-year ROI reaches 40.9% and total cumulative return in cash sums $264,357. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $6,796/mo property income covering a $9,765/mo payment, not borrower’s personal income.
Single Family
Built in 1880
2.24 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 11964, Shelter Island, NY area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,130 (100%) |
| Owner Occupied HU | 514 (45.5%) |
| Renter Occupied HU | 157 (13.9%) |
| Vacant Housing Units | 459 (40.6%) |
| Median Home Value | $939,167 |
| Average Home Value | $1,071,080 |
Housing Distribution
Address Breakdown
Residential
52
Single Family
52
Multi-Family
0
Businesses
130
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Listed by: Penelope Moore - Associate Real Estate Broker • Saunders & Associates
Mls Name: Out East
Mls ID: #382661