508 E 78th St APT 3D, New York, NY, 10075 | 7.57% Rental Yield

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508 E 78th St APT 3D, New York, NY, 10075 | 7.57% Rental Yield | Ziffy

For Sale

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

Total monthly income runs $2,996/mo, and a $2,325/mo payment. Purchase price stands at $475,000, and rental yield measures 7.57% with $2,996/mo rent. Return on cash invested shows 18.57% in year one, and 5% annual appreciation builds toward $131,234 over five years. Five-year ROI reaches 96.28% and total cumulative return in cash records $151,603. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,996/mo property income covering a $2,325/mo payment rather than investor’s personal income.

Condo

Built in 1910

N/A lot

$N/A/sqft

No HOA

More details about the property

Stunning Studio Perfection! Exceptionally bright, oversized and versatile space. An entry foyer leads to an open studio with not one but two! Sizeable Juliet balconies with lush, green and sunny views. There is even a sliver of the water view from the East River. High ceilings, tall windows, custom built-in closets, windowed eat in kitchen and windowed bath. Not a cookie cutter by any means. Simply a pleasure to call your Manhattan home. Located on a green and quiet block, The Cherokee is one of the most historic and beautiful buildings on the Upper East Side. Designed by Henry Atterbury Smith in the early 1900s, the innovative architecture of the time featured large windows, balconies, and open-air staircases to promote health and air circulation. The Cherokee is a pet friendly building that allows pieds-a-terre, guarantors, co-purchasing and subletting. Easy access to all transportation including the New York City Water Ferry. Restaurants, grocery stores and coffee shops abound. Electric & gas included in monthly maintenance payments.