71 Reade St APT 2A, New York, NY, 10007 | 7.21% Rental Yield

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71 Reade St APT 2A, New York, NY, 10007 | 7.21% Rental Yield | 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

Rental property for sale in New York at 71 Reade St APT 2A, New York, NY, 10007 offers $9,586/mo rent that, after a $7,807/mo payment. Total monthly income is $9,586/mo. Return on cash invested measures 14.2% in year one, and rental yield stands at 7.21% at a $1,595,000 entry. Equity gained on principal adds $10,292/yr while 5% annual appreciation compounds into $440,669 by year five. Five-year ROI records 74.13% and total cumulative return in cash reaches $383,105. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $9,586/mo property income versus a $7,807/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.

Condo

Built in 2015

N/A lot

$N/A/sqft

$1,591 monthly HOA

More details about the property

Welcome to apartment 2A at 71 Reade, a generous and luxurious 991 square foot, 1 bed/1.5 bathroom home, designed by renowned Selldorf Architects. This beautiful and spacious home is in excellent condition and features four oversized North-facing windows looking over Reade Street. The layout is extremely functional and features high-end finishes and appliances throughout including an Eggersmann Kitchen featuring Sub Zero and Miele appliances. The luxurious primary bathroom is accented with driftwood gray marble walls and flooring, elegant fixtures, and a double vanity. 71 Reade is a full-service condominium in the heart of Tribeca, built in 2015 and features a 24-hour doorman, a landscaped courtyard, roof terrace, fitness center, childrens playroom, pet grooming room, and bicycle storage. Please note that a parking space in the building's private garage is available for an additional cost.

Neighborhood Data

Neighborhood data shown for ZIP Code: 10007, New York, NY area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	5,044 (100%)
Owner Occupied HU	1,410 (28.0%)
Renter Occupied HU	3,001 (59.5%)
Vacant Housing Units	633 (12.5%)
Median Home Value	$1,607,143
Average Home Value	$1,583,307