41-24 161st Street Flushing #1B1, Flushing, NY, 11358 | 6.87% Rental Yield

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41-24 161st Street Flushing #1B1, Flushing, NY, 11358 | 6.87% Rental Yield | Ziffy

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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

Rental property for sale in Flushing at 41-24 161st Street Flushing #1B1, Flushing, NY, 11358 generates $4,571/mo in rent, after a $3,911/mo payment. Total monthly income is $4,571/mo. Return on cash invested sits at 14.75% in year one, and rental yield is 6.87% on a $799,000 entry. Equity gained on principal adds $5,156/yr, while 5% annual appreciation builds toward $220,749 over five years. Five-year ROI reaches 76.45% and total cumulative return in cash sums $200,958. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $4,571/mo property income rather than buyer’s personal income.

Condo

Built in N/A

N/A lot

$N/A/sqft

$399 monthly HOA

More details about the property

This rare duplex condo in Flushing offers 1,523 square feet of versatile living space, including a legally designated medical-use basement with a separate entrance. The first floor features a well-appointed kitchen, a combined living and dining area, one bedroom, and a full bathroom, making it perfect for comfortable living. The fully finished basement adds significant value, offering a spacious area with a full bathroom and space for a washer/dryer. With its separate entrance, the basement is ideal for a home office, medical practice, or additional living space. The building itself, measuring 40x42 feet, includes two parking spaces in the driveway and a backyard, perfect for outdoor relaxation and activities. Situated in one of Flushing's most sought-after neighborhoods, this property is conveniently located near supermarkets, restaurants, parks, and schools. Easy access to public transportation options, including the LIRR, Q12, and Q58 bus lines, makes this an exceptional opportunity in a prime location.

Neighborhood Data

Neighborhood data shown for ZIP Code: 11358, Flushing, NY area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	14,822 (100%)
Owner Occupied HU	7,286 (49.2%)
Renter Occupied HU	6,714 (45.3%)
Vacant Housing Units	822 ( 5.5%)
Median Home Value	$940,113
Average Home Value	$1,005,218