215 E 24th St APT 712, New York, NY, 10010 | 8.56% Rental Yield

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215 E 24th St APT 712, New York, NY, 10010 | 8.56% 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 $2,846/mo, and a $1,953/mo payment. Purchase price stands at $399,000, and rental yield measures 8.56% with $2,846/mo rent. Return on cash invested shows 10.11% in year one, and 5% annual appreciation builds toward $110,236 over five years. Five-year ROI reaches 55.13% and total cumulative return in cash records $72,914. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,846/mo property income covering a $1,953/mo payment rather than investor’s personal income.

Condo

Built in 1976

N/A lot

$N/A/sqft

$1,261 monthly HOA

More details about the property

JUST REDUCED! The Perfect Starter Home in Gramercy This South facing Starter home is located at the iconic Penny Lane Coop. It has an abundance of natural Southern light, floor to ceiling windows, a ceiling fan and Juliet balcony. There are hardwood floors throughout. Behold a stunning built-in Murphy bed and a wall of wood Cabinets with more than ample storage. The kitchen has new stainless steel refrigerator and appliances. There are two double closets in the foyer. Once an Ice-Cream factory, Penny Lane has been transformed into a full-service building. The renovated lobby resembles a London street. Each floor has Two Laundry Rooms; there is an Expansive Planted Roof Deck with Amazing Views of the Chrysler, Met Life and Empire State Buildings: Perfect for entertaining and relaxation. 24 Hour Doorman, Live-In Super, On-Site Garage, Bike Storage, Video Security, Package Room and very attentive staff all contribute to making this a great home in New York. Located in the highly sought-after Gramercy Park-Kips Bay area, this beautiful home immerses you in the vibrant energy of one of NYC's liveliest neighborhoods. You will find lots restaurants, bars, cafes, supermarkets, and shopping options. Commuting is an easy with proximity to 6/R/W trains and a short walk to F/M/L/Q/N/4/5 and Union Square Station. Sorry, no dogs or pied a terres. Guarantors and co-purchases allowed. Subletting allowed after two years of ownership for up to 6 years with annual Board Approval. Please note that some of the photos have been virtually staged.

Neighborhood Data

Neighborhood data shown for ZIP Code: 10010, New York, NY area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	19,835 (100%)
Owner Occupied HU	4,675 (23.6%)
Renter Occupied HU	12,977 (65.4%)
Vacant Housing Units	2,183 (11.0%)
Median Home Value	$1,076,308
Average Home Value	$1,205,915