230 Park Pl APT 5G, Brooklyn, NY, 11238 | 8.12% Rental Yield

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230 Park Pl APT 5G, Brooklyn, NY, 11238 | 8.12% Rental Yield | Ziffy

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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

Rental property for sale in Brooklyn at 230 Park Pl APT 5G, Brooklyn, NY, 11238 generates $6,058/mo in rent, after a $4,381/mo payment. Total monthly income is $6,058/mo. Return on cash invested sits at 13.34% in year one, and rental yield is 8.12% on a $895,000 entry. Equity gained on principal adds $5,775/yr, while 5% annual appreciation builds toward $247,272 over five years. Five-year ROI reaches 70.8% and total cumulative return in cash sums $208,466. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $6,058/mo property income rather than buyer’s personal income.

Condo

Built in 1937

N/A lot

$N/A/sqft

$1,729 monthly HOA

More details about the property

Welcome to 230 Park Pl, a stunning 1-bedroom, 1-bathroom co-op nestled in the heart of Prospect Heights. This charming low-rise building offers a perfect blend of modern amenities and classic architectural elements. Upon entering, you are greeted by a spacious foyer and massive closet outfitted with an Elfa closet system. The expansive living area enjoys southwestern exposures, allowing for an abundance of natural light and great sunsets. The open kitchen is ideal for both cooking and entertaining and comes with an induction stove. A dining alcove is currently flexed as a 2nd room with two entrances and is perfect for a home office, den or nursery. Between the living area and bedroom is a hallway with custom cabinets, a closet and the large full-size windowed bath that can be converted to a 2nd full bath or half bath if desired. The king-sized bedroom offers a serene retreat with generous space and a peaceful ambiance, making it the perfect place to unwind after a long day. The owners built a full wall of closets with shelves and drawers to complement the built-out walk-in Elfa closet. 230 Park Place is situated on a beautiful treelined block and gracefully setback from the road behind the landscaped front garden. Down the street from the great retail of Vanderbilt Ave, the B/Q train and moments from Grand Army Plaza (and 2/3 trains), you can live the picturesque Brooklyn life with the convenience of (and express train accessibility to) Manhattan. This pet-friendly coop building has the convenience of a full-time doorman, live-in super, elevator, storage units for rent, a bike room and community/play room with only around 80 apartments.

Neighborhood Data

Neighborhood data shown for ZIP Code: 11238, Brooklyn, NY area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	29,474 (100%)
Owner Occupied HU	6,812 (23.1%)
Renter Occupied HU	20,449 (69.4%)
Vacant Housing Units	2,213 ( 7.5%)
Median Home Value	$1,403,531
Average Home Value	$1,446,411