643 5th Ave Unit 3B · New York, NY 11215

$700,800

1 bd · 1.0 ba · 584 sqft · Condo · 15 Days on market

Built 2025 ↓ 8% since listing

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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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Cash flow +4.5/30.0
• Rent growth +3.9/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• 1% rule +0.5/10.0
• DSCR +0.0/10.0

Listing remarks

Welcome to this newly built one-bedroom boutique condominium, perfectly positioned in the heart of South Slope/Greenwood Heights—one of Brooklyn’s most vibrant and fast-growing neighborhoods. This thoughtfully crafted residence features a bright, open layout with oversized windows, elegant tile flooring, and a spacious living room ideal for both work and relaxation. The sleek open kitchen is equipped with brand-new appliances, and the in-unit washer/dryer provides unmatched convenience for busy city living. Enter onto your private balcony to enjoy fresh air and open Brooklyn views—your own personal retreat after a long day. Perfect for Manhattan commuters, the location off

Key facts

• Subway access
• Private balcony
• In unit washer dryer

Tags

• PRIVATE BALCONY
• OPEN KITCHEN
• IN UNIT WASHER DRYER
• TOP FLOOR SHARED TERRACE
• FITNESS ROOM
• SUBWAY ACCESS

Property features AI

Finance

• Financial info: Financing options may include cash, bank mortgage, or exchange (20% down payment noted)
• HOA & community: Monthly common maintenance fee of $427; Managed by Wan Long Realty LLC (manager phone available)

Exterior

• Parking: Other parking arrangement
• Utilities: Public water; Public sewer; Other utilities
• Home design: Residential unit on the 3rd floor; Unit number 3B
• Exterior features: Rooftop deck; Exercise room in building

Interior

• Kitchen: Stove; Refrigerator
• Bedrooms: One bedroom on the first floor
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Central split air conditioning
• Interior features: Central split air conditioning (1 AC unit); Deck; Elevator access
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $701k.

Deal economics

• At list price, monthly cash flow is $-2k ($-22k/yr) — negative.
• To cash-flow at today's rent, offer at most $441k (37.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $386k (44.9% below list).
• Recommended offer: $386k (44.9% below list) — sets the bar for 1% rule.
• Cap rate 3.2% vs local median 2.6% in New York — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 (+5.7%/yr); 248 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).

Forward outlook

• In year one you build about $75k of equity ($5k loan paydown + $70k appreciation (10.0% local appreciation)).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$120k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($690k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 61% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $386,102 (44.9% 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. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.55% ✗
• Cap rate: 3.22%
• Cash-on-cash: -10.96%
• DSCR: 0.51
• GRM: 15.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 5.67% rent growth · sell at horizon

5-year hold

• IRR: 17.2%
• Equity multiple: 2.42×
• Total profit: $278,193
• Equity at exit: $631,336

10-year hold

• IRR: 16.7%
• Equity multiple: 5.76×
• Total profit: $933,217
• Equity at exit: $1,361,500

Cash invested: $196,224 (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 11215

• Home prices YoY: 2.7%
• Rents YoY: 5.7%
• Active inventory: 248
• Price-to-rent: 15.1×

Monthly cashflow live

• Estimated rent: $3,861 medium
• Mortgage (P&I): −$3,675
• Tax est. 1.5%: −$876 /mo · $10,512/yr
• Insurance: −$292
• HOA: −$0
• Vacancy / Maint / Mgmt: −$811
• Net cashflow: $-1,793

Break-even live

Break-even rent $6,130

Max offer price $441,370

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: $175,200
• Closing costs: $21,024
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
655 Union St #1846 Brooklyn, NY	1.0–2.0	1.0–2.0	727	$5,780	$7.95	2d	2	1.11mi
22 Tehama St Unit 2 Fl Brooklyn, NY	2.0	1.0	700	$2,980	$4.26	24d	1	1.36mi

HOA detail condo

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

Listing history 13 events

1. 2026-06-18
   days on market $700,800 Active 15 DOM
2. 2026-06-17
   days on market $700,800 Active 14 DOM
3. 2026-06-16
   days on market $700,800 Active 13 DOM
4. 2026-06-15
   days on market $700,800 Active 12 DOM
5. 2026-06-13
   days on market $700,800 Active 10 DOM
6. 2026-06-09
   days on market $700,800 Active 6 DOM
7. 2026-06-08
   days on market $700,800 Active 5 DOM
8. 2026-06-07
   days on market $700,800 Active 4 DOM
9. 2026-06-04
   days on marketlisting id $700,800 Active 1 DOM
10. 2026-05-31
    days on market $700,800 Active 190 DOM
11. 2026-01-05
    price $700,800
12. 2025-12-03
    price $746,000
13. 2025-11-22
    listed $759,200 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 ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 61% 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: $46,332
• − Mortgage interest: −$39,256
• − Property taxes: −$10,512
• − Insurance: −$3,504
• − Repairs & maintenance: −$3,707
• − Management: −$3,707
• − Depreciation: −$20,387
• Taxable loss: −$34,740
• Est. tax savings @ 24.0%: +$8,337
• After-tax cash flow: $-13,177/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): 70,441
• Household income: $185,865
• Rent vs Own: 57.7% rent · 42.3% own
• Severe rent burden: 2372.0

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% Hispanic / Latino 15% Two or more races 11% Asian 9% Black 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3%
• Common ancestry: Romanian 5% Scotch-Irish 5% Italian 3%
• Foreign-born: 18% · Canada, China, Jamaica
• Languages at home: 76% English-only · Spanish 9% Other Indo-European 4% Chinese 2%

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: ▲ 11.03%
• Current HPI: 417.4151
• Rent YoY: ▲ 5.67%
• 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

-7.7% since first listed

3 events — show timeline

• 2026-01-05 Price Changed $700,800 BNYMLS
• 2025-12-03 Price Changed $746,000 BNYMLS
• 2025-11-22 Listed $759,200 BNYMLS