238 56th St APT 4R, Brooklyn, NY, 11220 | $2,700/mo Cash Flow

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238 56th St APT 4R, Brooklyn, NY, 11220 | $2,700/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 4R, Brooklyn, NY, 11220 offers a 13.68% rental yield on a $628,000 purchase with $7,159/mo rent. Total monthly income registers $7,159/mo, and a $3,074/mo payment leaves $2,700/mo available for distribution. Annual cash flow reaches $32,401/yr on $206,612 to close, and return on cash invested stands at 35.74% in year one. Equity gained on principal adds $4,052/yr while 5% annual appreciation supports $173,505 over five years. Portfolio math shows five-year ROI at 188.94% and total cumulative return in cash at $390,367. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $7,159/mo property income against a $3,074/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.

Condo

Built in 2009

N/A lot

$N/A/sqft

$265 monthly HOA

More details about the property

Introducing a lovely duplex condo with 4 bedrooms, 2bathrooms, 2 balconies, and a parking spot, totaling 1,018 square feet. Enjoy 10 YEAR OF TAX ABATEMENT UNTIL 2034! The main floor includes a living room combined with the kitchen, a full bath, and 3 bedrooms. A spiral staircase leads to the upper level, which features another cozy living room, a 3/4 bath, a good-sized bedroom, and a terrace with stunning views. Monthly HOA charge is only $265, with one assigned parking spot and super LOW annual property taxes of just $189.68. Conveniently located within minutes away to NYU Langone Hospital Brooklyn, Industry City, Costco, and 8th Ave, and close to the N & R train stations. This won't last long!

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