394 Maryland Ave Unit 2a · New York, NY 10305

$409,000

3 bd · 2.0 ba · 1,300 sqft · Condo · 45 Days on market

Built 1974

---

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
• Schools +5.0/10.0
• Rent growth +4.4/5.0
• Livability +3.8/5.0
• 1% rule +3.4/10.0
• Condition / age +2.5/5.0
• Cash flow +0.0/30.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to "Chateau Villa", a well-manicured private community that offers amenities such as a pool, dog park, children's playground, and parking. This spacious 1,300 sq. ft. apartment features a comfortable, well-designed layout with three bedrooms and two full bathrooms. The unit features a large, open-concept living and dining area, perfect for both relaxing and entertaining. Two true-to-size bedrooms, while the primary suite provides a private retreat with its own ensuite bathroom and a walk-in closet. Natural light fills the apartment throughout the day, creating a bright and inviting atmosphere in every room. Conveniently located, the property offers an easy commute to both

Key facts

• Pool
• Built 1974
• Listed 45 days

Property features AI

Finance

• Other: Zoning: R3-2; Lot approximately 0.03 acres; Parcel number available
• Financial info: Information not provided
• HOA & community: Chateau Villa association (monthly fees); Association fees include taxes, snow removal, sewer, outside maintenance, water, gas

Exterior

• Parking: On-street parking
• Security: Information not provided
• Utilities: 110V electric
• Home design: Apartment; Single-story; Excellent condition; Approximate year built
• Construction: Brick construction
• Exterior features: In-ground pool

Interior

• Kitchen: Dishwasher; Refrigerator
• Bedrooms: Information not provided
• Flooring: Information not provided
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom (total 2 bathrooms)
• Heating & cooling: Natural gas heating; Forced air heating; Has cooling
• Interior features: Walk-in closet(s); Central air (units)
• Laundry & utility: Information not provided

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $409k.

Deal economics

• At list price, monthly cash flow is $-2k ($-22k/yr) — negative.
• To cash-flow at today's rent, offer at most $392k (4.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $343k (16.2% below list).
• Recommended offer: $343k (16.2% below list) — sets the bar for 1% rule.
• Cap rate 0.8% vs local median 2.6% in New York — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 (+7.5%/yr); 254 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 480 units permitted in Richmond County in 2024 (22 in 5+ unit buildings).
• At $3,428/mo this rent would consume 49% of the median local household income ($83k/yr) (locally 1647% 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 $3k of loan paydown is wiped out by about $12k 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 45 days — a 3% lower offer ($397k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 30y 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 $50k; list at $409k implies a 718% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 51% of rent.
• Climate carrying-cost: major wind risk, 65% 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 $342,770 (16.2% 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 45 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Built in 1974 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.84% ✗
• Cap rate: 0.81%
• Cash-on-cash: -19.59%
• DSCR: 0.13
• GRM: 9.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 7.5% rent growth · sell at horizon

5-year hold

• IRR: -45.7%
• Equity multiple: -0.47×
• Total profit: $-168,002
• Equity at exit: $60,983

10-year hold

• IRR: -34.0%
• Equity multiple: -0.94×
• Total profit: $-221,980
• Equity at exit: $35,363

Cash invested: $114,520 (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 10305

• Rents YoY: 7.5%
• Active inventory: 254
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $3,428 high
• Mortgage (P&I): −$2,145
• Tax est. 1.5%: −$511 /mo · $6,135/yr
• Insurance: −$170
• HOA est. from 5 same-building comps: −$1,751
• Vacancy / Maint / Mgmt: −$720
• Net cashflow: $-1,870

Break-even live

Break-even rent $5,794

Max offer price $138,462

Occupancy floor —

Sensitivity live

Price	-10% $-1,587	-5% $-1,728	+0% $-1,870	+5% $-2,011	+10% $-2,152
Rent	-10% $-2,140	-5% $-2,005	+0% $-1,870	+5% $-1,734	+10% $-1,599
Rate	-1.0pp $-1,664	-0.5pp $-1,766	base $-1,870	+0.5pp $-1,976	+1.0pp $-2,083

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: $102,250
• Closing costs: $12,270
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
305 Osgood Ave Unit 2 Staten Island, NY	3.0	2.0	1300	$3,200	$2.46	25d	1	0.41mi
97 Greenfield Ave Staten Island, NY	3.0	2.5	1254	$3,400	$2.71	25d	1	0.67mi
17 Cunard Ave Staten Island, NY	3.0	2.0	1700	$3,650	$2.15	25d	1	0.81mi
21 Susan Ct Staten Island, NY	3.0	2.5	900	$3,400	$3.78	25d	1	0.90mi
703 Bay St Staten Island, NY	2.0	2.5	1337	$3,500	$2.62	25d	1	1.10mi

HOA detail condo

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

Listing history 24 events

1. 2026-06-18
   days on market $409,000 Active 45 DOM
2. 2026-06-17
   days on market $409,000 Active 44 DOM
3. 2026-06-16
   days on market $409,000 Active 43 DOM
4. 2026-06-15
   price $409,000 Active 42 DOM
5. 2026-06-15
   days on market $419,000 Active 42 DOM
6. 2026-06-13
   days on market $419,000 Active 40 DOM
7. 2026-06-10
   days on market $419,000 Active 36 DOM
8. 2026-06-08
   days on market $419,000 Active 35 DOM
9. 2026-06-08
   days on market $419,000 Active 34 DOM
10. 2026-06-04
    days on market $419,000 Active 31 DOM
11. 2026-06-03
    days on market $419,000 Active 30 DOM
12. 2026-06-01
    days on market $419,000 Active 28 DOM
13. 2026-05-31
    days on market $419,000 Active 27 DOM
14. 2026-05-04
    listed $419,000 Active
15. 2026-03-17
    historical
16. 2025-12-07
    price $419,000
17. 2025-12-05
    price $419,000
18. 2025-11-17
    listed $449,000 Active
19. 2025-11-16
    historical
20. 2025-11-09
    historical
21. 2025-06-09
    price $439,000
22. 2025-05-09
    listed $459,000 Active
23. 1997-04-24
    soldstatus $50,000
24. 1996-04-18
    listed $57,900

ⓘ 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 ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 65% 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: $41,132
• − Mortgage interest: −$22,910
• − Property taxes: −$6,135
• − Insurance: −$2,045
• − Repairs & maintenance: −$3,291
• − Management: −$3,291
• − HOA: −$21,012
• − Depreciation: −$11,898
• Taxable loss: −$29,449
• Est. tax savings @ 24.0%: +$7,068
• After-tax cash flow: $-15,368/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: Richmond County · 404,174 people
• City population: 7,731,280
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 41,270
• Household income: $83,413
• Rent vs Own: 35.1% rent · 64.9% own
• Severe rent burden: 1647.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 58% Asian 21% Hispanic / Latino 15% Two or more races 7% Black 3%
• Hispanic origin (detail): Mexican 4% Puerto Rican 8%
• Common ancestry: Scotch-Irish 5% Romanian 4% Subsaharan African 2%
• Foreign-born: 36% · China, Canada, Jamaica
• Languages at home: 52% English-only · Chinese 13% Russian/Polish/Slavic 12% Other Indo-European 8%

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: ▼ -487.06%
• Current HPI: 342.7938
• Rent YoY: ▲ 7.50%
• 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

+623.7% since first listed

11 events — show timeline

• 2026-05-04 Listed $419,000 SIBORMLS
• 2026-03-17 Listing Removed — SIBORMLS
• 2025-12-07 Price Changed $419,000 BNYMLS
• 2025-12-05 Price Changed $419,000 SIBORMLS
• 2025-11-17 Listed $449,000 SIBORMLS
• 2025-11-16 Coming Soon — SIBORMLS
• 2025-11-09 Listing Removed — SIBORMLS
• 2025-06-09 Price Changed $439,000 SIBORMLS
• 2025-05-09 Listed $459,000 SIBORMLS
• 1997-04-24 Sold (MLS) $50,000 SIBORMLS
• 1996-04-18 Listed $57,900 SIBORMLS