573 Grand St APT D1201, New York, NY, 10002 | $2,870/mo Cash Flow

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573 Grand St APT D1201, New York, NY, 10002 | $2,870/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 573 Grand St APT D1201, New York, NY, 10002 listed at $525,000 pairs $7,422/mo rent with a $2,570/mo payment to leave $2,870/mo cash flow. Total monthly income runs $7,422/mo, and annual cash flow reaches $34,437/yr on $172,725 cash to close. Return on cash invested measures 40% in year one, and rental yield registers 16.96% at a $525,000 basis. Equity gained on principal adds $3,388/yr, and annual property appreciation at 5% supports $145,048 by year five. Five-year ROI tracks 213.82% and total cumulative return in cash totals $369,321. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $7,422/mo property income relative to a $2,570/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).

Condo

Built in 1955

N/A lot

$N/A/sqft

$1,046 monthly HOA

More details about the property

High floor 1-bedroom apartment with beautiful views of the Freedom Tower and downtown Manhattan skyline from every room! At approximately 800 sq. ft., the apartment features an expansive living room, windowed eat-in kitchen, windowed bath and spacious bedroom large enough to fit a king-sized bed, desk, dresser & more. The bedroom also has double exposures (North & Eastwith additional views of the Empire State Building) allowing for great light throughout the day. If renovations are in your future, the floor plan allows for partial or complete removal of the dividing wall between the kitchen and the very living room for a more open loft-like feel! Additional features include hardwood parquet flooring throughout and 4 large closets for plenty of storage. **Assessment: $107/month through October 2024** Co-op amenities (additional fees and wait lists may apply) include 24-hour attended lobbies, 2 large private parks, children's playroom (plus access to neighboring Hillman co-op's park and playroom), community room, and fully equipped fitness center. Short walk to the supermarket, 24-hour deli/convenience store, dry cleaners as well as neighborhood staples including Market, Doughnut Plant, Kossar's, Trader Joes, Target & Regal Cinemas. Transportation: Bus: M14A, M14D, M21 & M22; Train: J, M, F, Z. Citibike stations nearby. Dogs not permitted. Gifting, guarantors, pied-a-terre, permitted. Subleasing after 2 years of ownership. Shareholder required continuing to pay base maintenance in addition to a sublet fee.

Neighborhood Data

Neighborhood data shown for ZIP Code: 10002, New York, NY area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	40,854 (100%)
Owner Occupied HU	6,264 (15.3%)
Renter Occupied HU	31,158 (76.3%)
Vacant Housing Units	3,432 ( 8.4%)
Median Home Value	$821,930
Average Home Value	$952,686