400 E 56th St APT 23FNew YorkNY10022
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowHigh DSCR is a competitive advantage at closing. 400 E 56th St APT 23F, New York, NY, 10022 in New York achieves 1.90, rent of $6,764/mo covers the $3,551/mo payment 1.5x over at $749,000. Rental yield 10.84%. That makes it both an efficient operational hold and a straightforward underwrite for Ziffy Mortgage's DSCR program. No domestic credit history or income documentation required. Appreciation at 5%/yr adds $206,935 over five years, with $6,279/yr in principal reduction bringing total projected return to $250,169.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.8% | 4.8% |
| Monthly Cash Flow | $(483) | $28,500 |
City averages based on New York market data in our database. Property projections are estimates.
DSCR Rental Loan Qualification
Qualifies using the property's rental income, not your personal income.
- ✓No W-2, pay stubs, or tax returns needed
- ✓Rental income qualifies you
- ✓Built for real estate investors
| Monthly Rental Income | $6,764 |
| Total Monthly Debt Service | $7,132 |
| DSCR Ratio | 0.95x |
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 6.5% rate / 30-yr fixed, 25% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 1968
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 10022, New York, NY area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 27,279 (100%) |
| Owner Occupied HU | 11,002 (40.3%) |
| Renter Occupied HU | 11,015 (40.4%) |
| Vacant Housing Units | 5,262 (19.3%) |
| Median Home Value | $1,223,949 |
| Average Home Value | $1,331,078 |
Housing Distribution
Address Breakdown
Residential
18,774
Single Family
271
Multi-Family
18,503
Businesses
3,725
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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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Nearby investment properties with comparable prices
