305 E 40th St APT 8A, Manhattan, NY, 10016 | 7.93% Rental Yield

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305 E 40th St APT 8A, Manhattan, NY, 10016 | 7.93% Rental Yield | 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

Total monthly income runs $2,709/mo, and a $2,007/mo payment. Purchase price stands at $410,000, and rental yield measures 7.93% with $2,709/mo rent. Return on cash invested shows 10.9% in year one, and 5% annual appreciation builds toward $113,275 over five years. Five-year ROI reaches 58.36% and total cumulative return in cash records $79,319. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,709/mo property income covering a $2,007/mo payment rather than investor’s personal income.

Condo

Built in 1963

N/A lot

$N/A/sqft

$991 monthly HOA

More details about the property

Lovely, large, updated, conveniently furnished, (or not, if you prefer!) studio, in excellent building and central location. The LOW monthly maintenance makes this choice even more attractive. As you can see, there is room for all the furniture you need to make you comfortable along with space for home office set-up, dining, and so on. You can easily divide the sleeping area from the rest of the space, if that's your preference. Excellent closet space, too! This full-service co-op is near Grand Central Station and major transportation, in addition to wonderful shopping and dining options. No pets, but there is a 24-hour doorman/concierge, resident manager, central air and heat, beautiful roof deck, garage, and bike room. Grab this one while you can! I look forward to hosting your visit.

Neighborhood Data

Neighborhood data shown for ZIP Code: 10016, New York, NY area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	41,052 (100%)
Owner Occupied HU	8,730 (21.3%)
Renter Occupied HU	26,763 (65.2%)
Vacant Housing Units	5,559 (13.5%)
Median Home Value	$1,031,364
Average Home Value	$1,209,032