238 56th St APT 3R, Brooklyn, NY, 11220 | $1,350/mo Cash Flow

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238 56th St APT 3R, Brooklyn, NY, 11220 | $1,350/mo Cash Flow | Ziffy

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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

Investment property for sale in Brooklyn at 238 56th St APT 3R, Brooklyn, NY, 11220 listed at $599,900 pairs $5,608/mo rent with a $2,936/mo payment to leave $1,350/mo cash flow. Total monthly income runs $5,608/mo, and annual cash flow reaches $16,202/yr on $197,367 cash to close. Return on cash invested measures 28.27% in year one, and rental yield registers 11.22% at a $599,900 basis. Equity gained on principal adds $3,871/yr, and annual property appreciation at 5% supports $165,741 by year five. Five-year ROI tracks 148.85% and total cumulative return in cash totals $293,788. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $5,608/mo property income relative to a $2,936/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).

Condo

Built in 2009

N/A lot

$N/A/sqft

$252 monthly HOA

More details about the property

** 10 MORE YEARS TAX ABATEMENT AVAILABLE** Introducing a charming 3-bedroom, 1.5-bathroom condominium in the picturesque Sunset Park neighborhood. This 3rd floor unit boasts three spacious bedrooms, each equipped with double-door closets, a newly renovated modern kitchen, and a generous living room that opens onto a balcony, creating a sun-drenched and airy atmosphere throughout. Furthermore, this home also includes a generously sized storage room and a laundry room located in the basement. Built in 2009 with meticulous craftsmanship, this condo offers 824 square feet of living space and includes a tax abatement valid until 2034. Enjoy the benefits of low monthly common charges of just $252.27 and exceptionally affordable annual property taxes of only $189.68. Ideally located, this residence is steps away from Lutheran Hospital, the BQE, Industry City, Costco, and other local amenities. With close proximity to the N & R trains and a ferry to Manhattan, this sought-after location offers both convenience and charm.

Neighborhood Data

Neighborhood data shown for ZIP Code: 11220, Brooklyn, NY area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	32,465 (100%)
Owner Occupied HU	6,364 (19.6%)
Renter Occupied HU	24,149 (74.4%)
Vacant Housing Units	1,952 ( 6.0%)
Median Home Value	$1,106,071
Average Home Value	$1,109,570