ZIP CODE 11223 // NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA // DATA AS OF 2026-09-30
New York, NY (11223) Rental Property Cap Rate & Cash Flow Report
Located in Kings County (New York, NY), Zip Code 11223 ranks #497 of 500 within this selected sample (1th percentile) with a Zillow ZHVI typical home-value index of $1,099,286 (+7.4% YoY) and a ZORI observed market rent of $2,525/mo (+7.5% YoY). Requires at least 93.4% down payment at 6.5% interest to reach $0/mo break-even cash flow. This model combines different housing populations; it is not an observed average property return. Costs assume state-average tax, 0.5% annual insurance, 13% reserves and no HOA or management. Figures below follow your edits; this headline describes the original benchmark.
Net Monthly Cash Flow
-$5,102/mo
Annual: -$61,228/yr
Modeled Cap Rate
0.50%
NOI: $5,475/yr
Cash-on-Cash Return
-24.22%
Cash Needed: $252,836
1% Rule Ratio
0.23%
Gross Yield: 2.76%
Break-Even Rent
$8,390/mo
State Tax: 1.40%/yr
INTERACTIVE PRO-FORMA STATEMENT (ZIP 11223 BENCHMARK)
Edit any value
Purchase Price (ZHVI proxy)
Monthly Gross Rent (ZORI proxy)
Down Payment (%)
Interest Rate (30Y Fixed %)
Annual Property Tax (NY Avg 1.40%)
Annual Home Insurance ($)
Monthly HOA Fee ($)
Monthly Debt Service (P&I)
-$5,559/mo
Monthly Operating Expenses (Tax + Ins + 13% Reserves)
-$2,069/mo
HISTORICAL ZHVI PRICE VS. ZORI RENT TRAJECTORY (11223)
| Year | ZHVI Value | ZORI Rent | Gross Yield |
|---|---|---|---|
| 2021 | $909,282 | $1,823/mo | 2.41% |
| 2022 | $962,295 | $2,007/mo | 2.50% |
| 2023 | $959,997 | $2,107/mo | 2.63% |
| 2024 | $986,412 | $2,294/mo | 2.79% |
| 2025 | $1,023,419 | $2,350/mo | 2.76% |
| 2026 | $1,099,286 | $2,525/mo | 2.76% |
COMPARABLE U.S. RENTAL MARKETS
| Zip / City | Price | Rent | Cap Rate | Cash Flow |
|---|---|---|---|---|
| 11219 New York, NY | $1,279,678 | $2,874/mo | 0.44% | -$5,996/mo |
| 11204 New York, NY | $1,275,795 | $2,592/mo | 0.22% | -$6,216/mo |
| 11213 New York, NY | $1,148,501 | $3,110/mo | 0.93% | -$4,920/mo |
| 11215 New York, NY | $1,543,199 | $4,260/mo | 0.98% | -$6,540/mo |
| 10024 New York, NY | $1,665,701 | $4,649/mo | 1.01% | -$7,015/mo |
| 11216 New York, NY | $1,232,197 | $3,590/mo | 1.14% | -$5,058/mo |