4-74-48 Avenue 38 #KLong Island CityNY11109
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeWhen a property's DSCR clears 1.5x, lenders and investors both pay attention. 4-74-48 Avenue 38 #K, Long Island City, NY, 11109 in Long Island City achieves a 1.59 ratio at $978,000: $6,998/mo rent versus $4,398/mo debt service. Rental yield 8.59%. Ziffy Mortgage's no-W2 DSCR loan is purpose-built for assets like this. The 8.59% yield compounds alongside 5% annual appreciation projecting $270,203 in value. Total projected cumulative return: $194,262.
| This Property | National Avg | |
|---|---|---|
| Gross Rental Yield | 8.6% | 6.2% |
| Monthly Cash Flow | $(3,011) | $180 |
National averages based on 2024–2025 U.S. residential rental market data. Content is user-generated and unverified.
DSCR Loan Qualification
| Monthly Rental Income | $6,998 |
| Total Monthly Debt Service | $9,620 |
| DSCR Ratio | 0.73x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 1996
N/A lot
$N/A/sqft
$3,478 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 11109, Long Island City, NY area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,192 (100%) |
| Owner Occupied HU | 436 (10.4%) |
| Renter Occupied HU | 3,411 (81.4%) |
| Vacant Housing Units | 345 ( 8.2%) |
| Median Home Value | $1,060,606 |
| Average Home Value | $1,117,122 |
Housing Distribution
Address Breakdown
Residential
4,308
Single Family
0
Multi-Family
4,308
Businesses
23
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Condo
Built in 1996
N/A lot
$N/A/sqft
$3,478 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 11109, Long Island City, NY area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,192 (100%) |
| Owner Occupied HU | 436 (10.4%) |
| Renter Occupied HU | 3,411 (81.4%) |
| Vacant Housing Units | 345 ( 8.2%) |
| Median Home Value | $1,060,606 |
| Average Home Value | $1,117,122 |
Housing Distribution
Address Breakdown
Residential
4,308
Single Family
0
Multi-Family
4,308
Businesses
23
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Tim Cass • Corcoran
Mls Name: StreetEasy
Mls ID: #S1738671