488 Ocean Pkwy APT 3FBrooklynNY11218
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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
Investment property for sale in Brooklyn at 488 Ocean Pkwy APT 3F, Brooklyn, NY, 11218 offers a 8.15% rental yield on a $390,000 purchase with $2,649/mo rent. 54% in year one. Equity gained on principal adds $2,517/yr while 5% annual appreciation supports $107,750 over five years. Portfolio math shows five-year ROI at 76.8% and total cumulative return in cash at $99,296. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,649/mo property income against a $1,909/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1958
N/A lot
$N/A/sqft
$623 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 11218, Brooklyn, NY area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 27,624 (100%) |
| Owner Occupied HU | 7,691 (27.8%) |
| Renter Occupied HU | 17,935 (64.9%) |
| Vacant Housing Units | 1,998 ( 7.2%) |
| Median Home Value | $1,054,643 |
| Average Home Value | $1,154,933 |
Housing Distribution
Address Breakdown
Residential
24,072
Single Family
6,875
Multi-Family
17,197
Businesses
1,595
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