295 Bennett Ave APT 7C, New York, NY, 10040 | $2,252/mo Cash Flow

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295 Bennett Ave APT 7C, New York, NY, 10040 | $2,252/mo Cash Flow | 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

Investment property for sale in New York at 295 Bennett Ave APT 7C, New York, NY, 10040 uses $62,985 cash to close to unlock $27,026/yr annual cash flow and $2,252/mo monthly cash flow. Total monthly income runs $3,910/mo, and a $930/mo payment keeps the spread at $2,252/mo. Purchase price stands at $190,000, and rental yield measures 24.69% with $3,910/mo rent. Return on cash invested shows 62.82% in year one, and 5% annual appreciation builds toward $52,494 over five years. Five-year ROI reaches 336.33% and total cumulative return in cash records $211,836. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $3,910/mo property income covering a $930/mo payment rather than investor’s personal income.

Condo

Built in N/A

N/A lot

$N/A/sqft

$389 monthly HOA

More details about the property

DIAMOND IN THE ROUGH. ESTATE CONDITION BARGAIN. Bring your contractor or we can introduce you to one with experience in this co-op complex. This is your chance to create your own special design for living in this spacious, high-floor studio apartment that has bright and sunny eastern and southern exposure. Very low maintenance makes this an attractive opportunity. This co-op is a well-managed 7-building, 350-unit complex perfectly situated next to beautiful Fort Tryon Park, one of New York Citys most beautiful, with breathtaking Hudson River views and the world-famous Cloisters Museum. All the conveniences, including supermarkets and a diverse selection of restaurants and nightspots, characterize the area. The co-op has made significant infrastructure investments in recent years, including a brand-new roof, video intercom system, and plumbing upgrades. There is a special assessment of $63 per month for this unit thru June 2024. Best of all, the co-op, with a resident Super and friendly staff, welcomes pets, including your canine friends. The 1-Train is nearby, and the A-train express line is right across the street.

Neighborhood Data

Neighborhood data shown for ZIP Code: 10040, New York, NY area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	17,674 (100%)
Owner Occupied HU	1,923 (10.9%)
Renter Occupied HU	14,568 (82.4%)
Vacant Housing Units	1,183 ( 6.7%)
Median Home Value	$525,000
Average Home Value	$522,291