355 Dormans CtFar RockawayNY11693
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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
Rental property for sale in Far Rockaway at 355 Dormans Ct, Far Rockaway, NY, 11693 priced at $934,700 converts $4,973/mo rent into after a $4,575/mo obligation. Total monthly income equals $4,973/mo. Return on cash invested prints 15.11% in year one, and rental yield reads 6.38% against a $934,700 entry. Equity gained on principal adds $6,031/yr, while 5% annual appreciation compiles into $258,240 by year five. Five-year ROI reaches 77.72% and total cumulative return in cash sums $239,014. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $4,973/mo property income covering a $4,575/mo payment, not borrower’s personal income.
Single Family
Built in 1920
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 11693, Far Rockaway, NY area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,533 (100%) |
| Owner Occupied HU | 2,272 (41.1%) |
| Renter Occupied HU | 2,861 (51.7%) |
| Vacant Housing Units | 400 ( 7.2%) |
| Median Home Value | $505,449 |
| Average Home Value | $521,181 |
Housing Distribution
Address Breakdown
Residential
5,028
Single Family
1,929
Multi-Family
3,099
Businesses
214
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Listed by: N/A • N/A
Mls Name: Douglas Elliman
Mls Provider:
Mls ID: #23183847