350 Richmond Ter Unit 2L · New York, NY 10301

$218,000

1 bd · 1.0 ba · 850 sqft · Condo · 84 Days on market

Built 1960 Good condition

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Why this score? — see what drove the D 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 +9.0/30.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Schools +5.0/10.0
• Rent growth +4.0/5.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0
• DSCR +2.5/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to beautiful Skyline Terrace located in the St. George section of Staten Island, the transportation hub of Staten Island which blends historical charm with modern conveniences. This large one-bedroom apartment is situated on the second floor of a 7 story building, on the quiet side facing Carroll Place. This unit offers a serene setting with plenty of potential. In need of updating, it’s the perfect opportunity to design and renovate to your own style. Enjoy close proximity to the Waterfront, Municipal buildings, Staten Island Ferry Terminal to downtown Manhattan, Staten Island University Hospital Community Park, North Shore Esplanade Park, St. George Theater, Empire Outlets s

Key facts

• Community park
• Empire outlets
• St. george theater

Tags

• CLOSE PROXIMITY TO WATERFRONT
• STATEN ISLAND FERRY TERMINAL
• COMMUNITY PARK
• NORTH SHORE ESPLANADE PARK
• ST. GEORGE THEATER
• EMPIRE OUTLETS

Property features AI

Finance

• Other: Building has 147 total units; Sub-lease allowed
• Financial info: Flip tax applies; Financing available: Bank mortgage or cash; Typical down payment: 20%
• HOA & community: Maintenance/ common fee; Management: New Bedford Management; Pets allowed (cats only); Handicap access available; Co-op shares: 168; Additional fee for storage

Exterior

• Parking: Wait-list parking
• Security: Intercom door; Virtual doorman
• Utilities: Gas; Heat; Sewer; Sprinkler system; Water
• Home design: Residential property; Unit located on floor 2
• Construction: Detached building
• Exterior features: Detached building; Intercom door; Virtual doorman; Resident superintendent; Storage rooms

Interior

• Kitchen: Galley kitchen; Stove; Refrigerator
• Bedrooms: 1 bedroom on the first floor
• Flooring: Parquet floors
• Bathrooms: 1 full bathroom on the first floor
• Heating & cooling: Steam/radiator heat; Air conditioning (1 unit)
• Interior features: Laundry area; Refrigerator; Stove; Parquet floors; 1 AC unit
• Laundry & utility: Card-operated laundry (building); Laundry area

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $218k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-170 ($-2k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $218k).
• Recommended offer: $205k (6.0% below list) — sets the bar for market timing.
• Cap rate 5.4% 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 (+6.1%/yr); 263 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 480 units permitted in Richmond County in 2024 (22 in 5+ unit buildings).
• This rent runs 37% of the median local income ($86k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Richmond County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($205k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 29% of rent.
• Climate carrying-cost: major wind risk, 56% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $204,920 (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 84 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.22% ✓
• Cap rate: 5.36%
• Cash-on-cash: -3.35%
• DSCR: 0.85
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.07% rent growth · sell at horizon

5-year hold

• IRR: -16.5%
• Equity multiple: 0.39×
• Total profit: $-37,210
• Equity at exit: $32,505

10-year hold

• IRR: -1.5%
• Equity multiple: 0.88×
• Total profit: $-7,348
• Equity at exit: $18,849

Cash invested: $61,040 (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 10301

• Rents YoY: 6.1%
• Active inventory: 263
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $2,656 medium
• Mortgage (P&I): −$1,143
• Tax est. 1.5%: −$272 /mo · $3,270/yr
• Insurance: −$91
• HOA est. from 2 same-building comps: −$762
• Vacancy / Maint / Mgmt: −$558
• Net cashflow: $-170

Break-even live

Break-even rent $2,872

Max offer price $193,351

Occupancy floor —

Sensitivity live

Price	-10% $-20	-5% $-95	+0% $-170	+5% $-246	+10% $-321
Rent	-10% $-380	-5% $-275	+0% $-170	+5% $-65	+10% $39
Rate	-1.0pp $-61	-0.5pp $-115	base $-170	+0.5pp $-227	+1.0pp $-284

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: $54,500
• Closing costs: $6,540
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
430 Saint Marks Pl Unit 3b Staten Island, NY	2.0	1.0	885	$3,200	$3.62	25d	1	0.72mi
0 Victory Blvd Unit 1 FL Staten Island, NY	2.0	1.0	900	$2,500	$2.78	25d	1	0.92mi

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 $218,000 Active 84 DOM
2. 2026-06-17
   days on market $218,000 Active 83 DOM
3. 2026-06-15
   days on market $218,000 Active 81 DOM
4. 2026-06-13
   days on market $218,000 Active 79 DOM
5. 2026-06-10
   days on market $218,000 Active 75 DOM
6. 2026-06-08
   days on market $218,000 Active 74 DOM
7. 2026-06-08
   days on market $218,000 Active 73 DOM
8. 2026-06-04
   days on market $218,000 Active 70 DOM
9. 2026-06-03
   days on market $218,000 Active 69 DOM
10. 2026-06-01
    days on market $218,000 Active 67 DOM
11. 2026-05-31
    days on market $218,000 Active 66 DOM
12. 2026-03-26
    listed $218,000 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 6/10 Major 7 d/yr ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 56% 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: $31,872
• − Mortgage interest: −$12,211
• − Property taxes: −$3,270
• − Insurance: −$1,090
• − Repairs & maintenance: −$2,550
• − Management: −$2,550
• − HOA: −$9,144
• − Depreciation: −$6,342
• Taxable loss: −$5,285
• Est. tax savings @ 24.0%: +$1,268
• After-tax cash flow: $-776/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 · 14 photos

Good 80/100 Cosmetic rehab

This is a well-maintained and clean apartment with good condition and potential for cosmetic updates to increase its value.

Value-add opportunities

• Both Paint the exterior and interior walls — Painting the exterior and interior walls can improve the curb appeal and interior aesthetics, which can increase both resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior and interior walls — Painting the exterior and interior walls can improve the curb appeal and interior aesthetics, which can increase both resale and rental value. ↑

ⓘ 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: Richmond County · 404,174 people
• City population: 7,731,280
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 41,052
• Household income: $85,609
• Rent vs Own: 54.2% rent · 45.8% own
• Severe rent burden: 2008.0

Population outlook (Richmond County) Hauer SSP2

• Today (2025): 482,784 people
• By 2030: 481,831 · -0.2%
• By 2040: 473,159 · -2.0%
• By 2050: 457,242 · -5.3%
• By 2075: 408,029 · -15.5%
• By 2100: 341,459 · -29.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: White 37% Hispanic / Latino 29% Black 23% Two or more races 16% Asian 7%
• Hispanic origin (detail): Mexican 5% Puerto Rican 10% Cuban 2% Dominican 6%
• Common ancestry: Romanian 3% Scotch-Irish 2% Italian 1%
• Foreign-born: 22% · Canada, China, Jamaica
• Languages at home: 68% English-only · Spanish 16% Other Indo-European 5% Russian/Polish/Slavic 3%

Political lean MEDSL · Richmond

• 2024 margin: Strong R (+29.8) · D 35.1% · R 64.9%
• 2008→2024 swing: -25.7pp toward R · 2008: -4.0pp · 2024: -29.8pp
• All cycles: 2024: R+29.8 2020: R+14.9 2016: R+16.8 2012: D+0.8 2008: R+4.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -407.37%
• Current HPI: 319.0616
• Rent YoY: ▲ 6.07%
• 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

• 2026-03-26 Listed $218,000 BNYMLS