7 Locust Ave #&-4Shelter Island HeightsNY11965
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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 Shelter Island Heights at 7 Locust Ave #&-4, Shelter Island Heights, NY, 11965 priced at $1,850,000 converts $5,843/mo rent into after a $9,055/mo obligation. Total monthly income equals $5,843/mo. Return on cash invested prints 7.33% in year one, and rental yield reads 3.79% against a $1,850,000 entry. Equity gained on principal adds $11,938/yr, while 5% annual appreciation compiles into $511,121 by year five. Five-year ROI reaches 35.97% and total cumulative return in cash sums $215,581. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $5,843/mo property income covering a $9,055/mo payment, not borrower’s personal income.
Single Family
Built in 1885
8,276 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 11965, Shelter Island Heights, NY area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,589 (100%) |
| Owner Occupied HU | 674 (42.4%) |
| Renter Occupied HU | 122 ( 7.7%) |
| Vacant Housing Units | 793 (49.9%) |
| Median Home Value | $995,000 |
| Average Home Value | $1,098,646 |
Housing Distribution
Address Breakdown
Residential
10
Single Family
10
Multi-Family
0
Businesses
74
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Listed by: Penelope Moore - Associate Real Estate Broker • Saunders & Associates
Mls Name: Out East
Mls ID: #390629