231 Park Pl APT 14, Brooklyn, NY, 11238 | 5.63% Rental Yield

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231 Park Pl APT 14, Brooklyn, NY, 11238 | 5.63% 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

Rental property for sale in Brooklyn at 231 Park Pl APT 14, Brooklyn, NY, 11238 generates $5,861/mo in rent, after a $6,118/mo payment. Total monthly income is $5,861/mo. Return on cash invested sits at 9.92% in year one, and rental yield is 5.63% on a $1,250,000 entry. Equity gained on principal adds $8,066/yr, while 5% annual appreciation builds toward $345,352 over five years. Five-year ROI reaches 50.94% and total cumulative return in cash sums $206,317. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $5,861/mo property income rather than buyer’s personal income.

Condo

Built in 1919

N/A lot

$N/A/sqft

$1,041 monthly HOA

More details about the property

Back on market!!!!!!. Welcome to the heart of Prospect heights here is a 3 bedrooms 2 full baths plus backyard first floor garden apartment that need full renovations but has great potential and price is negotiable.Beautiful convenient area that is minutes from new and approved Barclay Center, Prospect Park, Grand Army Plaza, Brooklyn public library, Brooklyn botantical gardens. This property is stops away from Manhattan B, Q Line and also a mile away from 2, and 3 line at Grand Army Plaza. 231 Park place is a well managed 16 unit coop building that is near Park Slope.This property has bike storage and much more. This building is located by many beautiful cafes,grocery stores, shopping centers, and dog parks.

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