251-29 61st Avenue #2-719Little NeckNY11362
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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
Investment Highlights
Investment property for sale in Little Neck at 251-29 61st Avenue #2-719, Little Neck, NY, 11362 uses $125,307 cash to close to unlock $2,027/yr annual cash flow and $169/mo monthly cash flow. Total monthly income runs $2,693/mo, and a $1,850/mo payment keeps the spread at $169/mo. Purchase price stands at $378,000, and rental yield measures 8.55% with $2,693/mo rent. Return on cash invested shows 21.53% in year one, and 5% annual appreciation builds toward $104,434 over five years. Five-year ROI reaches 112.15% and total cumulative return in cash records $140,529. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,693/mo property income covering a $1,850/mo payment rather than investor’s personal income.
Condo
Built in 1953
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 11362, Little Neck, NY area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,427 (100%) |
| Owner Occupied HU | 5,639 (75.9%) |
| Renter Occupied HU | 1,397 (18.8%) |
| Vacant Housing Units | 391 ( 5.3%) |
| Median Home Value | $835,946 |
| Average Home Value | $827,796 |
Housing Distribution
Address Breakdown
Residential
5,853
Single Family
5,094
Multi-Family
759
Businesses
410
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Listed by: Loukia Christodoulakis • Douglas Elliman Real Estate
Mls Name: OneKey MLS
Mls ID: #930065