508 E 78th St APT 2M, New York, NY, 10075 | 10.44% Rental Yield

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508 E 78th St APT 2M, New York, NY, 10075 | 10.44% Rental Yield | Ziffy

For Sale

Rental Income

Ziffy Mortgage

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 508 E 78th St APT 2M, New York, NY, 10075 offers a 10.44% rental yield on a $395,000 purchase with $3,438/mo rent. 74% in year one. Equity gained on principal adds $2,549/yr while 5% annual appreciation supports $109,131 over five years. Portfolio math shows five-year ROI at 85.28% and total cumulative return in cash at $111,666. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $3,438/mo property income against a $1,933/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.

Condo

Built in 1910

N/A lot

$N/A/sqft

$1,256 monthly HOA

More details about the property

Move right into this renovated, converted one bedroom, one bath apartment located at the magnificent Cherokee. A glorious pre-war Beaux Arts landmark building on the Upper East Side. This gorgeous building exudes old world charm and is infused with an elegant European Ambiance. Perched on the 2nd floor (non-elevator) this beautiful apartment boasts high ceilings new, hardwood floors and an oversized floor to ceiling window. The apartment features a renovated kitchen with stainless steel appliances and new hardwood cabinets. Great for investors as a rental income, or as your perfect Upper East Side First Home. The Cherokee features a live-in super, video intercom system, overnight security, bicycle room, central storage room, a landscaped courtyard, and a new laundry room. Utilities: gas & electric, heat and hot water are included in the maintenance. Pied a terres, Investors, Parents buying, co-purchasers and guarantors are all permitted. Pets are most welcome!! Steps away from John Jay Park and the East River promenade makes this apartment a must have. The Upper East Side has a burgeoning restaurant scene with numerous dining options ranging from Quality Eats, Uva wine bar, Penrose and newcomers Thep and Mission Ceviche which are really thriving. Boutique gourmet food store options include Citarella, Agata & Valentina and the newly renovated Gracies that added a wine bar. On a larger scale, Whole Foods and Fairway are only blocks away. Orwashers Bakery (voted the #1 baguette by Time Out NY) is just around the corner and has been baking the classic black-and-white cookie since 1916 soft and pillowy with a touch of lemon zest! . And why not try the fabulous Pink Berry..