501 3rd Ave #7C, New York, NY, 10016 | $573/mo Cash Flow

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501 3rd Ave #7C, New York, NY, 10016 | $573/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

Rental property for sale in New York at 501 3rd Ave #7C, New York, NY, 10016 priced at $845,000 pairs $7,066/mo rent with $573/mo cash flow after a $4,136/mo payment. Total monthly income equals $7,066/mo, and annual cash flow comes to $6,877/yr on $278,005 invested. Return on cash invested is 22.53% in year one, and rental yield stands at 10.03% on a $845,000 basis. Equity gained on principal adds $5,453/yr, and 5% annual appreciation accumulates to $233,458 by year five. Five-year ROI measures 118.87% and total cumulative return in cash reaches $330,456. For financing, Ziffy Mortgage’s DSCR program evaluates $7,066/mo property income against a $4,136/mo payment instead of your W2s, 1099s, or Tax returns.

Condo

Built in 2021

N/A lot

$N/A/sqft

$850 monthly HOA

More details about the property

Experience the beautiful artist's light through floor-to-ceiling, sound-attenuated windows in this elegant North-facing 462-square-foot studio residence. As you enter the foyer, you'll find a convenient guest closet. Follow the natural light past the stylish kitchen and into the main living/dining/sleeping area, which features a rectangular shape perfect for showcasing your favorite artwork. Unwind in the luxurious 60-inch Kohler soaking tub. A discreetly tucked-away Bosch stackable washer/dryer and a spacious closet maintain the residence's clean, sophisticated lines. The residence boasts 7 wide white oak plank flooring with a matte finish, satin nickel door hardware, 9' ceilings, and pre-wired windows for electronic shades. The kitchen features custom-designed oak cabinetry, white marble countertops and backsplash with grey veining, and integrated Miele appliances. Enjoy the convenience of a stainless steel kitchen sink with Kohler fixtures in a titanium finish and an in-sink garbage disposal. The primary bathroom is adorned with custom, honed Dream White marble tiles on the walls and vanity counter, complemented by Cinderella Grey marble floors with a honed finish. A custom white oak vanity with polished chrome pulls and accents, Kohler fixtures in a vibrant titanium finish, and a custom mirrored medicine cabinet with an oak surround complete this luxurious space.

Neighborhood Data

Neighborhood data shown for ZIP Code: 10016, New York, NY area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	41,052 (100%)
Owner Occupied HU	8,730 (21.3%)
Renter Occupied HU	26,763 (65.2%)
Vacant Housing Units	5,559 (13.5%)
Median Home Value	$1,031,364
Average Home Value	$1,209,032