Real Estate Investing in New York, New York (11238)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 11238 (New York, NY)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- Flat appreciation: Values have barely moved over 5 years (0.3% CAGR).
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- High price-to-rent: Price-to-rent ratio 25.7 — hard to cash-flow at these prices.
What’s happening in New York, NY (11238)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 11238 New York
The 11238 ZIP in New York, NY is a local-operator market. Outside capital chasing a $1.3M entry has to pair deep knowledge with the discount.
For an experienced owner, 11238 can be a a viable market for hunting ground — but the discount at $1.3M reflects genuine risk that outside investors often underestimate.
In the broader NY picture, 11238 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
The 11238 ZIP's population of 58,462 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that shows the need for careful underwriting.
Experienced landlords with local relationships tend to find 11238 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in New York:
Property Strategy for 11238
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $825,463 | $3,790 | 3.3% | +3.2% | $825,463 |
| 2BR | $1,265,137 | $4,160 | 2.4% | +4.5% | $632,568 |
| 3BR | $1,872,491 | $5,210 | 2.0% | +3.7% | $624,164 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 11238 Compare?
| Metric | 11238 | New York | New York |
|---|---|---|---|
| Home Value | $1,274,575 | $572,493 | $505,608 |
| 5-Year CAGR | 0.3% | 1.2% | 6.6% |
| Avg Rent | $4,127 | $3,425 | - |
| Cap Rate | 2.5% | 3.2% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 11238 (New York, NY). Anonymous, moderated, never written by AI.
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Property managers serving Kings County
Manage rentals here? List your business →CASE provides debt restructuring advisory and investment services. summary from their website
Good Peoples Property Management provides property management services. summary from their website
Leiter Management offers comprehensive property management solutions. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $1,274,575 |
| Monthly Rent | $4,127 |
| Price-to-Rent | 25.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.9% |
| Cap Rate | 2.5% |
| 5-Year IRR | 2.9% |
📈 Home Appreciation
| 1-Year | +6.9% ▲ |
| 3-Year CAGR | +2.8% ▲ |
| 5-Year CAGR | +0.3% ▲ |
| 10-Year CAGR | -2.2% ▼ |
🏠 Rent Trends
| 1-Year | +2.8% ▲ |
| 3-Year CAGR | +4.0% ▲ |
| 5-Year CAGR | +6.3% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.5%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 11238
Population: 58,462
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 11238
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
Which investment style suits New York, NY?
The best-fit strategy in New York, NY is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
How deep is the rental pool in New York, NY?
Tenant demand in New York, NY is solid. The local workforce $4,127/mo rents across most rental classes.
How much should I expect to pay for a home in New York, NY?
Homes in New York, NY typically sell near $1.3M. Prices have moved at a 0.0% 5-year CAGR, which measured long-term demand.
Is New York, NY good for house hacking?
For house hackers, New York, NY is a tougher. The $4,127/mo rent on a unit helps defray the mortgage on a $1.3M property.
Is New York, NY good for landlords?
NY ranks as a tenant-protective state for landlord-tenant law. New York generally follows the statewide framework, so landlords face reasonable operating rules.
You know 11238 now. You don’t know where it ranks.
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How 11238 ranks in New York-Newark-Jersey City, NY-NJ-PA
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