425 W 24th St APT 1C, New York, NY, 10011 | $649/mo Cash Flow

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425 W 24th St APT 1C, New York, NY, 10011 | $649/mo Cash Flow | 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

Investment property for sale in New York at 425 W 24th St APT 1C, New York, NY, 10011 uses $387,180 cash to close to unlock $7,787/yr annual cash flow and $649/mo monthly cash flow. Total monthly income runs $10,241/mo, and a $5,849/mo payment keeps the spread at $649/mo. Purchase price stands at $1,195,000, and rental yield measures 10.28% with $10,241/mo rent. Return on cash invested shows 22.38% in year one, and 5% annual appreciation builds toward $330,156 over five years. Five-year ROI reaches 118.46% and total cumulative return in cash records $458,654. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $10,241/mo property income covering a $5,849/mo payment rather than investor’s personal income.

Condo

Built in 1900

N/A lot

$N/A/sqft

$1,612 monthly HOA

More details about the property

Gorgeous Sponsor Apartment with huge price reduction! Unit 1C has been completely redesigned to create a 2 bedroom plus home office 2 bath loft style duplex The sponsor has renovated the apartment with luxurious condominium finishes, sleek, contemporary with absolutely no detail has been overlooked. Property Details: Interior Features: 10' high ceilings, spotlighting throughout, 5 wide plank oak floors naturally stained, enlarged beautiful solid white oak staircase, and oversized premium doors throughout the apartment. Additional Window and exposed brick detail added to second bedroom. Gorgeous cove ceiling in master bedroom. Kitchen Features: Open Kitchen with White high gloss European cabinetry with quartz countertops and premium stainless-steel appliances. Bathroom Features: Oversized 24x48 terrazzo tiles, radiant heated bathroom floors, hanging wall toilets and vanities, Grohe shower controls with slide bar hand showers, and oversized rain heads. Heating and Cooling: Fujitsu Central ductless individual room controlled HVAC AC/heat. Infrastructure: New plumbing and electricity. Absolutely everything in apartment is brand new. Sponsor Features: No Board Approval. Save months on closing time and uncertainty. No minimum financing requirement. Building Features: Live-in super. Laundry in the building. Beautifully renovated lobby and hallways. Excellent sublet policy. No minimum financing requirement. Pet-friendly. Location: Perfect central Chelsea location with city famous restaurants and nightlife hotspots nearby. Proximity to the best grocery including Whole Foods, Trader Joe's, Eataly, and Fairway. Close to Chelsea galleries, The High Line, Hudson River Park, and Chelsea Piers. Nearby Equinox fitness center with pool. Transportation: Quick and Easy access to entire city and Grand Central, Penn and Port Authority : 2 blocks to E, C trains. 3 to 1 and 9. 5 minutes by train to 14th or 42nd Street stations.

Neighborhood Data

Neighborhood data shown for ZIP Code: 10011, New York, NY area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	34,957 (100%)
Owner Occupied HU	10,815 (30.9%)
Renter Occupied HU	19,813 (56.7%)
Vacant Housing Units	4,329 (12.4%)
Median Home Value	$1,184,111
Average Home Value	$1,321,727