518 51st Ave #3Long Island CityNY11101
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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
Rental property for sale in Long Island City at 518 51st Ave #3, Long Island City, NY, 11101 generates $6,783/mo in rent, after a $9,765/mo payment. Total monthly income is $6,783/mo. Return on cash invested sits at 8.23% in year one, and rental yield is 4.08% on a $1,995,000 entry. Equity gained on principal adds $12,873/yr, while 5% annual appreciation builds toward $551,182 over five years. Five-year ROI reaches 40.77% and total cumulative return in cash sums $263,505. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $6,783/mo property income rather than buyer’s personal income.
Condo
Built in 2023
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 11101, Long Island City, NY area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 29,671 (100%) |
| Owner Occupied HU | 2,801 ( 9.4%) |
| Renter Occupied HU | 23,413 (78.9%) |
| Vacant Housing Units | 3,457 (11.7%) |
| Median Home Value | $1,141,450 |
| Average Home Value | $1,179,647 |
Housing Distribution
Address Breakdown
Residential
30,207
Single Family
1,107
Multi-Family
29,100
Businesses
3,935
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Listed by: Xiaomin Duan • Charney Real Estate LLC
Mls Name: StreetEasy
Mls ID: #S1798692