Park ROW · New York, NY 10038

$408,000

1 bd · 2.0 ba · 800 sqft · MultiFamily · 118 Days on market

Built 2028 Poor condition

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Why this score? — see what drove the B+ 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• Condition / age +1.0/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Our company reserved with check entire floors in several projects for our investors in Dubai. As a result, we got an exclusive pricing and conditions not available on the open market: - Discounts up to 25% in premium locations - Private investor group full floor acquisition - Entry at minimum 15% below current market Current opportunity Dubai Islands - 1BR units below 1.5M AED (~$408,000) - Lowest market price today in this area: 1.7M AED+ (~$463,000+) Immediate profit for our investors from day one. Message me if you wanna get more details WhatsApp [phone] or [phone]

Key facts

• Built 2028
• Listed 118 days

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath multifamily listed at $408k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $2k ($26k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $408k).
• Recommended offer: $371k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.8% 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 (+4.3%/yr); 113 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 4,467 units permitted in New York County in 2024 (4,463 in 5+ unit buildings).
• At $6,362/mo this rent would consume 72% of the median local household income ($105k/yr) (locally 1501% 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 $15k of equity ($3k loan paydown + $12k appreciation (3.0% local appreciation)).
• New York County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 4.3% rent growth), your $114k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 118 days — a 9% lower offer ($371k) is reasonable based on typical stale-listing flexibility.

Recommended offer $371,280 (9.0% below list)

Questions for the listing agent

1. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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: 1.56% ✓
• Cap rate: 12.78%
• Cash-on-cash: 23.18%
• DSCR: 2.03
• GRM: 5.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.0% appreciation · 4.28% rent growth · sell at horizon

5-year hold

• IRR: 30.3%
• Equity multiple: 2.73×
• Total profit: $198,086
• Equity at exit: $183,454

10-year hold

• IRR: 31.4%
• Equity multiple: 5.56×
• Total profit: $521,036
• Equity at exit: $282,725

Cash invested: $114,240 (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 10038

• Rents YoY: 4.3%
• Active inventory: 113
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $6,362 high
• Mortgage (P&I): −$2,140
• Tax est. 1.5%: −$510 /mo · $6,120/yr
• Insurance: −$170
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,336
• Net cashflow: $2,207

Break-even live

Break-even rent $3,569

Max offer price $408,000

Occupancy floor 60%

Sensitivity live

Price	-10% $2,489	-5% $2,348	+0% $2,207	+5% $2,066	+10% $1,925
Rent	-10% $1,704	-5% $1,955	+0% $2,207	+5% $2,458	+10% $2,709
Rate	-1.0pp $2,412	-0.5pp $2,310	base $2,207	+0.5pp $2,101	+1.0pp $1,993

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: $102,000
• Closing costs: $12,240
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
211 Front St Unit 1255364P New York, NY	1.0	1.0	990	$11,206	$11.32	26d	1	0.03mi
180 Water St #537 New York, NY	1.0–2.0	1.0–2.0	728	$8,040	$11.04	4d	2	0.18mi
95 Wall St New York, NY	2.0	1.0–2.0	881	$5,978	$6.78	0d	33	0.33mi
75 Wall St Unit 251 New York, NY	1.0	1.5	653	$6,580	$10.08	26d	1	0.33mi
67 Wall St #13 New York, NY	1.0–2.0	1.0	636	$5,750	$9.03	4d	2	0.35mi
63 Wall St #1971 New York, NY	1.0	1.0	489	$5,120	$10.46	0d	2	0.36mi
10 Hanover Sq New York, NY	2.0	1.0–2.0	790	$5,761	$7.29	0d	25	0.39mi
3 Hanover Sq New York, NY	3.0	1.0–2.0	600	$4,534	$7.56	26d	5	0.42mi
15 William St New York, NY	1.0–2.0	1.0–2.0	822	$3,500	$4.26	9d	10	0.45mi
140 Broadway Unit 1298277P New York, NY	1.0	1.0	699	$9,406	$13.46	23d	1	0.46mi
25 Water St Unit 707 New York, NY	—	1.0	550	$3,950	$7.18	26d	1	0.55mi
25 Water St Apt 706 New York, NY	—	1.0	550	$3,990	$7.25	26d	1	0.55mi
111 Worth St New York, NY	1.0–2.0	1.0–2.0	747	$6,077	$8.14	9d	7	0.63mi
252 South St Unit 74B New York, NY	2.0	2.0	1034	$8,995	$8.70	19d	1	0.63mi
107 Columbia Hts #1757 Brooklyn, NY	1.0–2.0	1.0–2.0	708	$5,650	$7.98	0d	2	0.63mi
105 Duane St #183 New York, NY	2.0	1.0–2.0	821	$8,935	$10.88	0d	3	0.64mi
88 Leonard St New York, NY	1.0	1.0	598	$7,966	$13.32	9d	13	0.71mi
1 West St #546 New York, NY	1.0	1.0	700	$5,770	$8.24	22d	1	0.75mi
120 Mulberry St Unit 1257050P New York, NY	2.0	1.0	645	$12,372	$19.18	26d	1	0.77mi
389 S End Ave New York, NY	3.0	1.0–2.0	1080	$6,685	$6.19	2d	36	0.85mi
100 Jay St Unit 6B Brooklyn, NY	1.0	1.0	800	$4,600	$5.75	26d	1	0.86mi
400 Chambers St #587 New York, NY	2.0	1.0–1.5	675	$7,370	$10.91	9d	3	1.01mi
68 Gold St New York, NY	1.0–2.0	1.0	700	$3,610	$5.16	26d	2	1.03mi
180 Montague St Brooklyn, NY	3.0	1.0–2.0	901	$5,353	$5.94	0d	12	1.04mi
16 Spring St Unit GROUND New York, NY	—	1.0	850	$20,000	$23.53	26d	1	1.05mi
141 Joralemon St #819 Brooklyn, NY	1.0–3.0	1.0–2.0	750	$5,010	$6.68	0d	3	1.06mi
125 Delancey St #1523 New York, NY	1.0–2.0	1.0–2.0	850	$7,860	$9.25	3d	2	1.07mi
200 Montague St #1516 Brooklyn, NY	1.0	1.0	600	$7,500	$12.50	22d	1	1.08mi
180 Broome St #1521 New York, NY	1.0–2.0	1.0–2.0	850	$7,970	$9.38	3d	2	1.08mi
229 Chrystie St New York, NY	1.0–2.0	1.0–2.0	810	$6,120	$7.56	6d	3	1.26mi
111 Lawrence St Brooklyn, NY	3.0	1.0–2.0	950	$4,282	$4.50	0d	24	1.28mi
11 E 1st St New York, NY	2.0	1.0–2.0	1060	$8,052	$7.60	0d	1	1.31mi
171 Suffolk St #1265 New York, NY	1.0–2.0	1.0	650	$6,950	$10.69	9d	2	1.33mi
241 Atlantic Ave #879 Brooklyn, NY	1.0–3.0	1.0–2.0	1098	$5,490	$5.00	0d	3	1.33mi
150 Lawrence St Brooklyn, NY	1.0–2.0	1.0–2.0	700	$4,130	$5.90	0d	2	1.33mi
343 Gold St Brooklyn, NY	3.0	1.0–2.0	903	$5,053	$5.59	6d	1	1.35mi
100 Willoughby St Brooklyn, NY	3.0	1.0–2.0	892	$5,232	$5.87	9d	1	1.37mi
214 Duffield St Brooklyn, NY	3.0	1.0–2.0	956	$5,049	$5.28	0d	1	1.40mi

Listing history 11 events

1. 2026-06-21
   days on market $408,000 Active 118 DOM
2. 2026-06-18
   days on market $408,000 Active 115 DOM
3. 2026-06-17
   days on market $408,000 Active 114 DOM
4. 2026-06-15
   days on market $408,000 Active 112 DOM
5. 2026-06-13
   days on market $408,000 Active 110 DOM
6. 2026-06-10
   days on market $408,000 Active 106 DOM
7. 2026-06-08
   days on market $408,000 Active 105 DOM
8. 2026-06-03
   days on market $408,000 Active 100 DOM
9. 2026-06-01
   days on market $408,000 Active 98 DOM
10. 2026-05-31
    days on market $408,000 Active 97 DOM
11. 2026-02-23
    listed $408,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $76,348
• − Mortgage interest: −$22,854
• − Property taxes: −$6,120
• − Insurance: −$2,040
• − Repairs & maintenance: −$6,108
• − Management: −$6,108
• − Depreciation: −$11,869
• Taxable income: $21,249
• Est. tax owed @ 24.0%: −$5,100
• After-tax cash flow: $21,380/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 · 5 photos

Poor 20/100 Extensive rehab

This multi-family property is in poor condition, with a flat roof and exterior walls in need of major repairs. Immediate action is required to address these issues before the property can be considered for resale or rental.

Repairs flagged

• Major roof — The satellite image shows visible signs of wear and tear on the roof, indicating a major repair is needed.
• Major exterior walls — The satellite image shows visible cracks and discoloration on the exterior walls, indicating a major repair is needed.

Value-add opportunities

• Both Roof replacement and exterior wall repairs — These repairs would significantly improve the home's appearance and functionality, making it more attractive to potential buyers and renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The satellite image shows visible signs of wear and tear on the roof, indicating a major repair is needed.	Major	$15,000–50,000
exterior walls · The satellite image shows visible cracks and discoloration on the exterior walls, indicating a major repair is needed.	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both Roof replacement and exterior wall repairs — These repairs would significantly improve the home's appearance and functionality, making it more attractive to potential buyers and renters. ↑

ⓘ 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: New York County · 1,599,927 people
• City population: 7,731,280
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 22,235
• Household income: $105,419
• Rent vs Own: 68.4% rent · 31.6% own
• Severe rent burden: 1501.0

Population outlook (New York County) Hauer SSP2

• Today (2025): 1,825,725 people
• By 2030: 1,904,611 · +4.3%
• By 2040: 2,052,719 · +12.4%
• By 2050: 2,206,601 · +20.9%
• By 2075: 2,509,427 · +37.4%
• By 2100: 2,702,933 · +48.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: White 42% Asian 29% Hispanic / Latino 12% Black 10% Two or more races 9%
• Hispanic origin (detail): Mexican 2% Puerto Rican 5% Dominican 1%
• Common ancestry: Romanian 3% Scotch-Irish 2% Italian 2%
• Foreign-born: 27% · China, Canada, South Korea
• Languages at home: 62% English-only · Chinese 18% Spanish 11% Russian/Polish/Slavic 2%

Political lean MEDSL · New York

• 2024 margin: Solid D (+64.8) · D 82.4% · R 17.6%
• 2008→2024 swing: -7.4pp toward R · 2008: 72.2pp · 2024: 64.8pp
• All cycles: 2024: D+64.8 2020: D+74.5 2016: D+77.2 2012: D+69.6 2008: D+72.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: ▲ 4.28%
• 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

• 2026-02-23 Listed $408,000 ForSaleByOwner.com