3021 Avenue Z Unit 1K · New York, NY 11235

$299,000

2 bd · 1.0 ba · 1,000 sqft · Condo · 37 Days on market

Built 1930

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Why this score? — see what drove the C 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).

• Cash flow +22.5/30.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• 1% rule +5.9/10.0
• Schools +5.0/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

100% Co-op In Sheepshead Bay Ave Z And Batchelder St , Large 2 Bed Rooms On The Ground Floor, W/large Living Room, Foyer, Large eat-in Kit W/winds, bathroom with /winds, parquet Floor, Nice size room,M/m Include All . Gas, heat, Electric , Flip Tax Apply When You sell Only .no rental, , close to shopping , school, transit,close to all

Key facts

• Hardwood flooring
• Renovated bathroom
• Large living room

Tags

• RENOVATED GALLEY KITCHEN
• HARDWOOD FLOORING
• LARGE LIVING ROOM
• RENOVATED BATHROOM
• DOUBLE DOOR CLOSET SPACE
• ON-SITE LAUNDRY

Property features AI

Finance

• Financial info: Financing available: Bank mortgage or cash; Typical down payment around 20%; Flip tax applies
• HOA & community: Monthly maintenance/ common fee of $976.50; Management by First Service Residential; Manager phone available; Additional $30 fee (includes A/C and dishwasher); Pets are not allowed; Co-op shares listed

Exterior

• Parking: Wait-list parking
• Utilities: Electric available; Gas available; Heat available; Water available; Sewer available; Septic listed; All utilities
• Home design: Detached residential building; Single-level unit (first floor)
• Construction: Unit in a multi-unit building (80 total units)
• Exterior features: Storage rooms in the building; Part of a detached building; Located on the first floor

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stove
• Bedrooms: Two bedrooms on the first floor
• Flooring: Hardwood floors; Other flooring (see remarks)
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Three A/C units; Gas and heat available
• Interior features: Central A/C with three units; Dishwasher; Elevator access; Laundry area; Microwave; Refrigerator; Stove; Window treatments
• Laundry & utility: Laundry area; Card-operated building laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $299k.

Deal economics

• At list price, monthly cash flow is $435 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $299k).
• Recommended offer: $290k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 2.6% in New York — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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 (+5.0%/yr); 524 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 $3,250/mo this rent would consume 65% of the median local household income ($60k/yr) (locally 7823% 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 $9k 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 37 days — a 3% lower offer ($290k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $183k; list at $299k implies a 63% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 72% 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 $290,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.09% ✓
• Cap rate: 8.30%
• Cash-on-cash: 7.18%
• DSCR: 1.32
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.04% rent growth · sell at horizon

5-year hold

• IRR: -4.3%
• Equity multiple: 0.83×
• Total profit: $-13,881
• Equity at exit: $44,582

10-year hold

• IRR: 7.6%
• Equity multiple: 1.63×
• Total profit: $53,031
• Equity at exit: $25,852

Cash invested: $83,720 (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 11235

• Rents YoY: 5.0%
• Active inventory: 524
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $3,250 medium
• Mortgage (P&I): −$1,568
• Tax est. 1.5%: −$374 /mo · $4,485/yr
• Insurance: −$125
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$682
• Net cashflow: $435

Break-even live

Break-even rent $2,700

Max offer price $299,000

Occupancy floor 82%

Sensitivity live

Price	-10% $641	-5% $538	+0% $435	+5% $331	+10% $228
Rent	-10% $178	-5% $306	+0% $435	+5% $563	+10% $691
Rate	-1.0pp $585	-0.5pp $511	base $435	+0.5pp $357	+1.0pp $278

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3112 Emmons Ave Unit 203 Brooklyn, NY	1.0	1.0	734	$3,200	$4.36	25d	1	0.43mi
3000 Emmons Ave Unit 5 Brooklyn, NY	2.0	2.0	840	$4,085	$4.86	25d	1	0.47mi

HOA detail condo

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

Listing history 20 events

1. 2026-06-21
   days on market $299,000 Active 37 DOM
2. 2026-06-18
   days on market $299,000 Active 34 DOM
3. 2026-06-17
   days on market $299,000 Active 33 DOM
4. 2026-06-16
   days on market $299,000 Active 32 DOM
5. 2026-06-15
   days on market $299,000 Active 31 DOM
6. 2026-06-13
   days on market $299,000 Active 29 DOM
7. 2026-06-10
   days on market $299,000 Active 25 DOM
8. 2026-06-08
   days on market $299,000 Active 24 DOM
9. 2026-06-08
   days on market $299,000 Active 23 DOM
10. 2026-06-04
    days on market $299,000 Active 20 DOM
11. 2026-06-03
    days on market $299,000 Active 19 DOM
12. 2026-06-02
    days on market $299,000 Active 18 DOM
13. 2026-06-01
    days on market $299,000 Active 17 DOM
14. 2026-05-31
    days on market $299,000 Active 16 DOM
15. 2026-05-15
    listed $299,000 Active
16. 2021-03-15
    price $289,000
17. 2020-04-15
    soldstatus $183,000 Sold 336-char remark

    Show marketing remark (336 chars)

    100% Co-op In Sheepshead Bay Ave Z And Batchelder St , Large 2 Bed Rooms On The Ground Floor, W/large Living Room, Foyer, Large eat-in Kit W/winds, bathroom with /winds, parquet Floor, Nice size room,M/m Include All . Gas, heat, Electric , Flip Tax Apply When You sell Only .no rental, , close to shopping , school, transit,close to all

18. 2018-07-16
    historical 336-char remark

    Show marketing remark (336 chars)

    100% Co-op In Sheepshead Bay Ave Z And Batchelder St , Large 2 Bed Rooms On The Ground Floor, W/large Living Room, Foyer, Large eat-in Kit W/winds, bathroom with /winds, parquet Floor, Nice size room,M/m Include All . Gas, heat, Electric , Flip Tax Apply When You sell Only .no rental, , close to shopping , school, transit,close to all

19. 2018-05-30
    price $195,000 336-char remark

    Show marketing remark (336 chars)

    100% Co-op In Sheepshead Bay Ave Z And Batchelder St , Large 2 Bed Rooms On The Ground Floor, W/large Living Room, Foyer, Large eat-in Kit W/winds, bathroom with /winds, parquet Floor, Nice size room,M/m Include All . Gas, heat, Electric , Flip Tax Apply When You sell Only .no rental, , close to shopping , school, transit,close to all

20. 2018-04-09
    listed $189,000 Active 336-char remark

    Show marketing remark (336 chars)

    100% Co-op In Sheepshead Bay Ave Z And Batchelder St , Large 2 Bed Rooms On The Ground Floor, W/large Living Room, Foyer, Large eat-in Kit W/winds, bathroom with /winds, parquet Floor, Nice size room,M/m Include All . Gas, heat, Electric , Flip Tax Apply When You sell Only .no rental, , close to shopping , school, transit,close to all

ⓘ 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 7/10 Severe FEMA zone X (unshaded) · 60% 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 72% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,997
• − Mortgage interest: −$16,749
• − Property taxes: −$4,485
• − Insurance: −$2,292
• − Repairs & maintenance: −$3,120
• − Management: −$3,120
• − Depreciation: −$8,698
• Taxable income: $533
• Est. tax owed @ 24.0%: −$128
• After-tax cash flow: $5,086/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.

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): 78,558
• Household income: $59,661
• Rent vs Own: 65.2% rent · 34.8% own
• Severe rent burden: 7823.0

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: Predominantly White (67%)
• Race & ethnicity: White 67% Asian 15% Two or more races 9% Hispanic / Latino 9% Black 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3%
• Common ancestry: Scotch-Irish 15% Subsaharan African 12% Romanian 2%
• Foreign-born: 63% · China, Canada, Vietnam
• Languages at home: 24% English-only · Russian/Polish/Slavic 48% Chinese 7% Spanish 7%

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: ▼ -181.73%
• Current HPI: 303.6714
• Rent YoY: ▲ 5.04%
• 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

+58.2% since first listed

6 events — show timeline

• 2026-05-15 Listed $299,000 BNYMLS
• 2021-03-15 Price Changed $289,000 BNYMLS
• 2020-04-15 Sold (MLS) $183,000 BNYMLS
• 2018-07-16 Delisted — BNYMLS
• 2018-05-30 Price Changed $195,000 BNYMLS
• 2018-04-09 Listed $189,000 BNYMLS