687 Balfour PlaceMelvilleNY11747
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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 Melville at 687 Balfour Place, Melville, NY, 11747 priced at $1,525,000 pairs $7,364/mo rent with after a $7,464/mo payment. Total monthly income equals $7,364/mo. Return on cash invested is 12.19% in year one, and rental yield stands at 5.79% on a $1,525,000 basis. Equity gained on principal adds $9,841/yr, and 5% annual appreciation accumulates to $421,329 by year five. Five-year ROI measures 62.47% and total cumulative return in cash reaches $308,688. For financing, Ziffy Mortgage’s DSCR program evaluates $7,364/mo property income against a $7,464/mo payment instead of your W2s, 1099s, or Tax returns.
Condo
Built in 2003
1,980 sqft lot
$N/A/sqft
$550 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 11747, Melville, NY area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,945 (100%) |
| Owner Occupied HU | 6,327 (79.6%) |
| Renter Occupied HU | 1,193 (15.0%) |
| Vacant Housing Units | 425 ( 5.3%) |
| Median Home Value | $831,921 |
| Average Home Value | $903,171 |
Housing Distribution
Address Breakdown
Residential
7,762
Single Family
7,762
Multi-Family
0
Businesses
1,620
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Listed by: Maria H. Lanzisero • Compass Greater NY LLC
Mls Name: OneKey MLS
Mls Provider:
Mls ID: #889835
Disclaimer: Based on information submitted to the MLS GRID as of 2025-10-19 03:18:22 PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. [Click here for more information](/mls-disclaimers/#778)