340 St. Marks Ave Unit 3F · New York, NY 11238

$800,000

2 bd · 1.0 ba · 1,000 sqft · Condo · 59 Days on market

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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 +8.0/30.0
• Appreciation +7.8/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• DSCR +2.1/10.0

Listing remarks

THIS NEWLY LISTED 3 BRM COOP IN T5HE HEART OF PROSPECT HEIGHT WITH A LITTLE TLC THIS 3 FL WALK UP COULD BE YOUR DREAM HOME. IN THE CENTER OF A IMPRESSIVE DESIRABLE NEIBORHOOD .

Key facts

• Listed 59 days

Property features AI

Finance

• Other: Co-op shares: 1.00; Building has a flip tax
• Financial info: No financing offered (listed as None)
• HOA & community: Monthly maintenance fee of $300; Managed by Brooklyn Real Property; Pets are allowed (cats and dogs, no weight limit); Fee includes assessment

Exterior

• Parking: No parking
• Security: Intercom door
• Utilities: Gas service; Municipal water; Municipal sewer; Hot water via coil in boiler
• Home design: Residential building; Unit located on third floor
• Construction: Building details not provided
• Exterior features: Residential property within a 6-unit building; Located on the 3rd floor

Interior

• Kitchen: Microwave; Refrigerator; Stove
• Bedrooms: Two bedrooms on the first floor; Primary bedroom with double-door closets; Second bedroom on the first floor (features stall shower)
• Flooring: Tile floors
• Bathrooms: Stall shower in one bedroom (no additional bathroom count provided)
• Heating & cooling: Gas heating; Baseboard heat delivery; One AC unit
• Interior features: Intercom door; Microwave; Refrigerator; Stove; Tile floors; One AC unit
• Laundry & utility: Hot water coil in boiler

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $800k.

Deal economics

• At list price, monthly cash flow is $-816 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $682k (14.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $597k (25.4% below list).
• Recommended offer: $597k (25.4% below list) — sets the bar for 1% rule.
• Cap rate 5.1% 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.
• Zoned schools: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% FRL); Jhs 383 Philippa Schuyler (math 32% / reading 67%, grade C, #280 of 729 statewide, top 40%, 822 students, 85% FRL); Midwood High School (math 94% / reading 96%, grade A+, #83 of 1,100 statewide, top 8%, 4,062 students, 73% FRL).
• Market conditions: Rents rising fast (+4.4%/yr); 146 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $5,965/mo this rent would consume 53% of the median local household income ($135k/yr) (locally 3722% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $50k of equity ($6k loan paydown + $44k appreciation (5.5% 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 ~$80k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($776k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% 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 $596,501 (25.4% 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 59 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
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: 0.75% ✗
• Cap rate: 5.07%
• Cash-on-cash: -4.37%
• DSCR: 0.81
• GRM: 11.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.55% appreciation · 4.4% rent growth · sell at horizon

5-year hold

• IRR: 11.2%
• Equity multiple: 1.74×
• Total profit: $166,416
• Equity at exit: $480,378

10-year hold

• IRR: 12.7%
• Equity multiple: 3.48×
• Total profit: $554,905
• Equity at exit: $852,327

Cash invested: $224,000 (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 11238

• Home prices YoY: 1.5%
• Rents YoY: 4.4%
• Active inventory: 146
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $5,965 high
• Mortgage (P&I): −$4,195
• Tax est. 1.5%: −$1,000 /mo · $12,000/yr
• Insurance: −$333
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,253
• Net cashflow: $-816

Break-even live

Break-even rent $6,998

Max offer price $681,886

Occupancy floor —

Sensitivity live

Price	-10% $-263	-5% $-540	+0% $-816	+5% $-1,093	+10% $-1,369
Rent	-10% $-1,287	-5% $-1,052	+0% $-816	+5% $-581	+10% $-345
Rate	-1.0pp $-413	-0.5pp $-613	base $-816	+0.5pp $-1,024	+1.0pp $-1,234

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: $200,000
• Closing costs: $24,000
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
755 Washington Ave Brooklyn, NY	1.0	1.0	700	$1,800	$2.57	23d	1	0.20mi
545 Vanderbilt Ave Brooklyn, NY	2.0	1.0	600	$6,280	$10.47	5d	3	0.41mi
475 Clermont Ave Brooklyn, NY	2.0	1.0–2.0	807	$6,596	$8.17	1d	6	0.49mi
762 Park Pl Unit 3B Brooklyn, NY	3.0	2.0	1114	$5,400	$4.85	27d	1	0.66mi
461 Dean St Brooklyn, NY	1.0	1.0	781	$5,320	$6.81	7d	5	0.69mi
800 Park Pl Unit 3R Brooklyn, NY	2.0	2.0	1300	$6,995	$5.38	27d	1	0.72mi
151 S Elliott Pl Brooklyn, NY	1.0–2.0	1.0–2.0	655	$6,380	$9.74	4d	2	0.79mi
655 Union St #1846 Brooklyn, NY	1.0–2.0	1.0–2.0	727	$7,810	$10.74	5d	2	1.01mi
1437 Pacific St Brooklyn, NY	2.0	1.0	1000	$3,200	$3.20	27d	1	1.05mi
333 Schermerhorn St Brooklyn, NY	1.0	1.0	585	$6,782	$11.58	1d	15	1.14mi
540 Fulton St #1729 Brooklyn, NY	3.0	1.0–2.0	750	$7,563	$10.08	27d	4	1.22mi
196 Willoughby St Brooklyn, NY	2.0	1.0–2.0	717	$7,921	$11.05	0d	9	1.32mi
1619 Pacific St Brooklyn, NY	2.0	2.0	1300	$3,300	$2.54	4d	1	1.42mi
72 Van Buren St Brooklyn, NY	3.0	1.0	1000	$1,180	$1.18	27d	1	1.43mi
214 Duffield St Brooklyn, NY	3.0	1.0–2.0	956	$6,427	$6.72	1d	1	1.48mi

HOA detail condo

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

Listing history 15 events

1. 2026-06-22
   days on market $800,000 Active 59 DOM
2. 2026-06-21
   days on market $800,000 Active 58 DOM
3. 2026-06-18
   days on market $800,000 Active 55 DOM
4. 2026-06-17
   days on market $800,000 Active 54 DOM
5. 2026-06-16
   days on market $800,000 Active 53 DOM
6. 2026-06-15
   days on market $800,000 Active 52 DOM
7. 2026-06-13
   days on market $800,000 Active 50 DOM
8. 2026-06-10
   days on market $800,000 Active 46 DOM
9. 2026-06-08
   days on market $800,000 Active 45 DOM
10. 2026-06-08
    days on market $800,000 Active 44 DOM
11. 2026-06-04
    days on market $800,000 Active 41 DOM
12. 2026-06-03
    days on market $800,000 Active 40 DOM
13. 2026-06-01
    days on market $800,000 Active 38 DOM
14. 2026-05-31
    days on market $800,000 Active 37 DOM
15. 2026-04-23
    listed $800,000 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 ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $71,580
• − Mortgage interest: −$44,812
• − Property taxes: −$12,000
• − Insurance: −$4,000
• − Repairs & maintenance: −$5,726
• − Management: −$5,726
• − Depreciation: −$23,273
• Taxable loss: −$23,958
• Est. tax savings @ 24.0%: +$5,750
• After-tax cash flow: $-4,045/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): 58,345
• Household income: $134,523
• Rent vs Own: 72.3% rent · 27.7% own
• Severe rent burden: 3722.0

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 0.70)
• Race & ethnicity: White 47% Black 23% Hispanic / Latino 15% Two or more races 13% Asian 7%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Dominican 3%
• Common ancestry: Romanian 3% Slovak 2% Italian 2%
• Foreign-born: 20% · Canada, China, South Korea
• Languages at home: 79% English-only · Spanish 9% Other Indo-European 3% French/Haitian/Cajun 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: ▲ 5.55%
• Current HPI: 368.1523
• Rent YoY: ▲ 4.40%
• 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

• 2026-04-23 Listed $800,000 BNYMLS