1961 65th St Unit 3A · New York, NY 11204

$350,000

3 bd · 1.0 ba · 900 sqft · Condo · 66 Days on market

Fair condition

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Why this score? — see what drove the F grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• 1% rule +4.5/10.0
• Cash flow +4.1/30.0
• Livability +3.8/5.0
• Condition / age +2.2/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Spacious and bright apartment featuring hardwood floors and high ceilings throughout. This unit offers three bedrooms, a comfortable living room, a full kitchen, and one full bathroom. Facing the front of the building, the apartment is filled with natural light, and every room includes windows. Located in a prime Bensonhurst neighborhood, the property is conveniently close to public transportation, including subway and bus lines, as well as shops, banks, and schools. The N train is just minute away, and the zoned school, PS 205, is only a short distance from the building. Monthly maintenance covers heat, insurance, real estate taxes, and water. The building features a well-maintained lobby,

Key facts

• Shops banks schools
• Natural light
• High ceilings

Tags

• HARDWOOD FLOORS
• HIGH CEILINGS
• NATURAL LIGHT
• PRIME BENSONHURST NEIGHBORHOOD
• PUBLIC TRANSPORTATION
• SHOPS BANKS SCHOOLS

Property features AI

Finance

• Other: Property is part of a 20-unit building; Total interior area listed as 900 (unit not restated per instructions)
• Financial info: Financing options considered: exchange, bank mortgage, or cash; Flip tax of 10% applies
• HOA & community: Monthly maintenance/common fee; Management by Leemar Management Corp; Pets are allowed (restrictions: see agent); Co-op shares indicated

Exterior

• Parking: No parking details provided
• Security: No security features provided
• Utilities: Heat available; Water available; Sewer available; Septic listed; Sprinkler system listed; Other utilities indicated
• Home design: Residential property; Located on the 3rd floor of the building
• Construction: No construction, roof, foundation, or year-built details provided
• Exterior features: No exterior features specified

Interior

• Kitchen: Kitchen included (refrigerator, stove)
• Bedrooms: Three bedrooms located on the first floor
• Flooring: No flooring details provided
• Bathrooms: One full bathroom located on the first floor
• Heating & cooling: Heating listed under utilities; One AC unit
• Interior features: Refrigerator; Stove; No additional built-in interior features listed; One air conditioning unit
• Laundry & utility: No laundry or utility details provided

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath condo listed at $350k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-965 ($-12k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $332k (5.1% below list).
• Recommended offer: $329k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 75/100 on livability (#268 in NY, #4,188 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A; Watch: crime F, cost of living F.
• Market conditions: Rents rising fast (+12.9%/yr); 167 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $3,322/mo this rent would consume 57% of the median local household income ($69k/yr) (locally 4963% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($329k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 35% of rent.
• Climate carrying-cost: major wind risk, 68% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $329,000 (6.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
9. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
10. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
11. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
12. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
13. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.95% ✗
• Cap rate: 2.98%
• Cash-on-cash: -11.82%
• DSCR: 0.47
• GRM: 8.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -28.8%
• Equity multiple: -0.02×
• Total profit: $-99,882
• Equity at exit: $52,186

10-year hold

• IRR: -10.6%
• Equity multiple: 0.15×
• Total profit: $-83,127
• Equity at exit: $30,262

Cash invested: $98,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 0 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City New York: 0 Strongly Tenant-Friendly · D+34

Rent Stabilization Code; HSTPA; 6+ months in housing court.

Methodology + full state rankings →

ZIP-level market 11204

• Home prices YoY: -32.9%
• Rents YoY: 12.9%
• Active inventory: 167
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $3,322 medium
• Mortgage (P&I): −$1,835
• Tax est. 1.5%: −$438 /mo · $5,250/yr
• Insurance: −$146
• HOA est. from 1 same-building comp: −$1,171
• Vacancy / Maint / Mgmt: −$698
• Net cashflow: $-965

Break-even live

Break-even rent $4,544

Max offer price $210,294

Occupancy floor —

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
63 Bay 37th St Unit 1R Brooklyn, NY	2.0	1.0	900	$3,100	$3.44	24d	1	1.37mi
8642 26th Ave Unit 3 Brooklyn, NY	3.0	1.0	1100	$3,100	$2.82	15d	1	1.46mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-06-18
   days on market $350,000 Active 66 DOM
2. 2026-06-17
   days on market $350,000 Active 65 DOM
3. 2026-06-15
   days on market $350,000 Active 63 DOM
4. 2026-06-13
   days on market $350,000 Active 61 DOM
5. 2026-06-10
   days on market $350,000 Active 57 DOM
6. 2026-06-08
   days on market $350,000 Active 56 DOM
7. 2026-06-08
   days on market $350,000 Active 55 DOM
8. 2026-06-04
   days on market $350,000 Active 52 DOM
9. 2026-06-03
   days on market $350,000 Active 51 DOM
10. 2026-06-01
    days on market $350,000 Active 49 DOM
11. 2026-05-31
    days on market $350,000 Active 48 DOM
12. 2026-04-13
    listed $350,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 68% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,863
• − Mortgage interest: −$19,605
• − Property taxes: −$5,250
• − Insurance: −$1,750
• − Repairs & maintenance: −$3,189
• − Management: −$3,189
• − HOA: −$14,052
• − Depreciation: −$10,182
• Taxable loss: −$17,355
• Est. tax savings @ 24.0%: +$4,165
• After-tax cash flow: $-7,421/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 9 photos

Fair 45/100 Moderate rehab

The property requires moderate renovations to improve its condition and appeal, focusing on the kitchen and bathrooms.

Repairs flagged

• Major ceiling — visible cracks and discoloration
• Moderate kitchen cabinets — dated and worn
• Moderate bathroom fixtures — dated and worn

Value-add opportunities

• Both paint interior walls — enhances curb appeal and interior aesthetics
• Both replace kitchen cabinets — modernizes the space and increases appeal
• Both update bathroom fixtures — modernizes the space and increases appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
ceiling · visible cracks and discoloration	Major	$15,000–50,000
kitchen cabinets · dated and worn	Moderate	$3,000–15,000
bathroom fixtures · dated and worn	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$21,000–80,000

Value-add ROI direction

• Both paint interior walls — enhances curb appeal and interior aesthetics ↑
• Both replace kitchen cabinets — modernizes the space and increases appeal ↑
• Both update bathroom fixtures — modernizes the space and increases appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

No district data.

Livability — New York

• Score: 75/100
• State rank: #268
• US rank: #4188

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment A- Housing C+ Health & safety A User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New York, NY
• County: Kings County · 2,614,986 people
• City population: 7,731,280
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 79,800
• Household income: $69,479
• Rent vs Own: 65.5% rent · 34.5% own
• Severe rent burden: 4963.0

Population outlook (Kings County) Hauer SSP2

• Today (2025): 2,847,441 people
• By 2030: 2,937,006 · +3.1%
• By 2040: 3,095,491 · +8.7%
• By 2050: 3,228,968 · +13.4%
• By 2075: 3,321,723 · +16.7%
• By 2100: 3,111,387 · +9.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 53% Asian 29% Hispanic / Latino 13% Two or more races 4%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Subsaharan African 3% Scotch-Irish 3% Romanian 2%
• Foreign-born: 44% · China, Canada, Vietnam
• Languages at home: 23% English-only · Chinese 23% German/W. Germanic 19% Spanish 10%

Political lean MEDSL · Kings

• 2024 margin: Solid D (+44.0) · D 72.0% · R 28.0%
• 2008→2024 swing: -15.5pp toward R · 2008: 59.4pp · 2024: 44.0pp
• All cycles: 2024: D+44.0 2020: D+54.8 2016: D+61.8 2012: D+63.9 2008: D+59.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -217.07%
• Current HPI: 443.1608
• Rent YoY: ▲ 12.87%
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

1 event — show timeline

• 2026-04-13 Listed $350,000 BNYMLS