56 Pine St APT 14E, New York, NY, 10005 | $2,211/mo Cash Flow

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56 Pine St APT 14E, New York, NY, 10005 | $2,211/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

Investment property for sale in New York at 56 Pine St APT 14E, New York, NY, 10005 offers a 15.61% rental yield on a $600,000 purchase with $7,804/mo rent. Total monthly income registers $7,804/mo, and a $2,937/mo payment leaves $2,211/mo available for distribution. Annual cash flow reaches $26,532/yr on $197,400 to close, and return on cash invested stands at 33.5% in year one. Equity gained on principal adds $3,872/yr while 5% annual appreciation supports $165,769 over five years. Portfolio math shows five-year ROI at 179.82% and total cumulative return in cash at $354,972. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $7,804/mo property income against a $2,937/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.

Condo

Built in 1893

N/A lot

$N/A/sqft

$1,586 monthly HOA

More details about the property

Beautiful well-lit and spacious 1 bedroom apartment on a high floor in the heart of the financial district. The airy living room has 5 windows giving the flair of a loft apartment. The bedroom is very large with 4 windows and has a potential to be converted in 2 bedrooms. The apartment has north, east and south exposure, with one large closet in the foyer and a newly constructed walk-in closet in the bedroom. The soaring 10-ft. ceilings give to this little gem a sense of extra space. The apartment has its own heating and air conditioning system. The apartment is in the historic landmarked Wallace building which has a beautifully sculpted faade. On the second floor there is a gym, library, social room and media room embellished with floor to ceilings windows. Also there is wet bar which is a perfect place for parties and entertainment with a beautiful pool table. Directly across the street from the building is the entrance to the 2/3 line subway. The 4, 5, J and Z are just around the corner.

Neighborhood Data

Neighborhood data shown for ZIP Code: 10005, New York, NY area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	6,939 (100%)
Owner Occupied HU	858 (12.4%)
Renter Occupied HU	4,911 (70.8%)
Vacant Housing Units	1,170 (16.9%)
Median Home Value	$1,555,556
Average Home Value	$1,549,382