ZIP CODE 11238 // NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA // DATA AS OF 2026-09-30
New York, NY (11238) Rental Property Cap Rate & Cash Flow Report
Located in Kings County (New York, NY), Zip Code 11238 ranks #464 of 500 within this selected sample (7th percentile) with a Zillow ZHVI typical home-value index of $1,277,708 (+5.3% YoY) and a ZORI observed market rent of $4,222/mo (+7.6% YoY). Requires at least 79.6% 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
-$4,811/mo
Annual: -$57,729/yr
Modeled Cap Rate
1.55%
NOI: $19,801/yr
Cash-on-Cash Return
-19.64%
Cash Needed: $293,873
1% Rule Ratio
0.33%
Gross Yield: 3.97%
Break-Even Rent
$9,752/mo
State Tax: 1.40%/yr
INTERACTIVE PRO-FORMA STATEMENT (ZIP 11238 BENCHMARK)
Edit any value
Purchase Price (ZHVI proxy)
Monthly Gross Rent (ZORI proxy)
Down Payment (%)
Interest Rate (30Y Fixed %)
Annual Property Tax (NY Avg 1.40%)
Annual Home Insurance ($)
Monthly HOA Fee ($)
Monthly Debt Service (P&I)
-$6,461/mo
Monthly Operating Expenses (Tax + Ins + 13% Reserves)
-$2,572/mo
HISTORICAL ZHVI PRICE VS. ZORI RENT TRAJECTORY (11238)
| Year | ZHVI Value | ZORI Rent | Gross Yield |
|---|---|---|---|
| 2021 | $1,268,984 | $3,105/mo | 2.94% |
| 2022 | $1,364,329 | $3,628/mo | 3.19% |
| 2023 | $1,182,849 | $3,696/mo | 3.75% |
| 2024 | $1,176,322 | $3,805/mo | 3.88% |
| 2025 | $1,213,029 | $3,924/mo | 3.88% |
| 2026 | $1,277,708 | $4,222/mo | 3.97% |
COMPARABLE U.S. RENTAL MARKETS
| Zip / City | Price | Rent | Cap Rate | Cash Flow |
|---|---|---|---|---|
| 11221 New York, NY | $1,096,834 | $3,608/mo | 1.53% | -$4,144/mo |
| 11233 New York, NY | $1,006,841 | $3,301/mo | 1.52% | -$3,813/mo |
| 11201 New York, NY | $1,402,838 | $4,717/mo | 1.61% | -$5,211/mo |
| 11218 New York, NY | $973,500 | $3,156/mo | 1.48% | -$3,718/mo |
| 10023 New York, NY | $1,444,233 | $4,890/mo | 1.63% | -$5,335/mo |
| 10312 New York, NY | $761,384 | $2,582/mo | 1.64% | -$2,809/mo |