5642 Avenue T Unit 85E · New York, NY 11234

$289,000

2 bd · 1.0 ba · 750 sqft · Condo · 48 Days on market

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Why this score? — see what drove the C- 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 +19.0/30.0
• ARV discount +7.5/15.0
• DSCR +6.0/10.0
• 1% rule +5.1/10.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Old Mill Basin / Kings Plaza area highly desirable coop. spacious 2 bedroom, 1 bath. on the 2nd floor of the lovely Fillmore Gardens complex. Maintenance is $628.00which includes gas, electric, heat, water & sewer. No subletting and No pets. Near shopping and transportation...

Key facts

• Renovated
• Large eat-in kitchen
• Parking

Tags

• RENOVATED
• NEW WINDOWS
• BAMBOO FLOORING
• LARGE EAT-IN KITCHEN
• IN-UNIT WASHER DRYER
• PARKING

Property features AI

Finance

• Other: Co-op shares: 193.00
• Financial info: Financing options include bank mortgage, cash, or exchange considered; 5% flip tax applies
• HOA & community: Monthly maintenance fee of $966.42; Management by Century Management; Additional monthly fee of $100 (includes air conditioning and washer/dryer); Pets allowed (both cats and dogs)

Exterior

• Parking: 1 assigned/available parking space; Street parking
• Utilities: Electric service; Gas service; Heat; Water; Sewer; Parking utilities included/available
• Home design: Residential unit located on the 2nd floor; Total of 6 rooms (5 shown on first floor)
• Construction: Unit within a large building (325 total units)
• Exterior features: Street parking available; Parking area; Property is in a multi-unit residential building

Interior

• Kitchen: Eat-in kitchen; Stove; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the first floor
• Flooring: Tile floors; Other flooring (see remarks)
• Bathrooms: 1 full bathroom on the first floor
• Heating & cooling: Heat (utility listed); 2 wall-mounted A/C units
• Interior features: Wall A/C units (2); Laundry area; Microwave; Refrigerator; Stove
• Laundry & utility: Washer; Dryer; Laundry area

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $289k.

Deal economics

• At list price, monthly cash flow is $303 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $289k).
• Recommended offer: $280k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.6% 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 (+16.2%/yr); 459 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• This rent runs 36% of the median local income ($97k/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 $9k of value loss. Plan a longer hold.
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $81k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($280k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y 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 $150k; list at $289k implies a 93% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 75% 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 $280,330 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. 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.
7. 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.
8. 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: 1.01% ✓
• Cap rate: 7.55%
• Cash-on-cash: 4.50%
• DSCR: 1.20
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -3.8%
• Equity multiple: 0.85×
• Total profit: $-12,081
• Equity at exit: $43,091

10-year hold

• IRR: 10.9%
• Equity multiple: 2.05×
• Total profit: $84,573
• Equity at exit: $24,987

Cash invested: $80,920 (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 11234

• Rents YoY: 16.2%
• Active inventory: 459
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,912 medium
• Mortgage (P&I): −$1,516
• Tax est. 1.5%: −$361 /mo · $4,335/yr
• Insurance: −$120
• HOA: −$0
• Vacancy / Maint / Mgmt: −$612
• Net cashflow: $303

Break-even live

Break-even rent $2,528

Max offer price $289,000

Occupancy floor 85%

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: $72,250
• Closing costs: $8,670
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1455 Royce St Unit 1H Brooklyn, NY	3.0	2.0	1113	$3,700	$3.32	25d	1	0.96mi

HOA detail condo

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

Listing history 5 events

1. 2026-04-22
   status Pending
2. 2026-03-05
   listed $289,000 Active
3. 2020-04-15
   soldstatus $150,000 Sold 281-char remark

   Show marketing remark (281 chars)

   Old Mill Basin / Kings Plaza area highly desirable coop. spacious 2 bedroom, 1 bath. on the 2nd floor of the lovely Fillmore Gardens complex. Maintenance is $628.00which includes gas, electric, heat, water & sewer. No subletting and No pets. Near shopping and transportation...

4. 2017-02-21
   historical 281-char remark

   Show marketing remark (281 chars)

   Old Mill Basin / Kings Plaza area highly desirable coop. spacious 2 bedroom, 1 bath. on the 2nd floor of the lovely Fillmore Gardens complex. Maintenance is $628.00which includes gas, electric, heat, water & sewer. No subletting and No pets. Near shopping and transportation...

5. 2017-01-18
   listed $159,000 Active 281-char remark

   Show marketing remark (281 chars)

   Old Mill Basin / Kings Plaza area highly desirable coop. spacious 2 bedroom, 1 bath. on the 2nd floor of the lovely Fillmore Gardens complex. Maintenance is $628.00which includes gas, electric, heat, water & sewer. No subletting and No pets. Near shopping and transportation...

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 13% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 75% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,944
• − Mortgage interest: −$16,188
• − Property taxes: −$4,335
• − Insurance: −$1,445
• − Repairs & maintenance: −$2,796
• − Management: −$2,796
• − Depreciation: −$8,407
• Taxable loss: −$1,023
• Est. tax savings @ 24.0%: +$245
• After-tax cash flow: $3,885/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): 83,187
• Household income: $97,479
• Rent vs Own: 31.7% rent · 68.3% own
• Severe rent burden: 2384.0

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 0.69)
• Race & ethnicity: Black 42% White 35% Hispanic / Latino 10% Asian 8% Two or more races 7%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4%
• Common ancestry: Hispanic 8% Scotch-Irish 3% Romanian 2%
• Foreign-born: 35% · Canada, China, Mexico
• Languages at home: 65% English-only · French/Haitian/Cajun 9% Spanish 7% Russian/Polish/Slavic 6%

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: ▼ -667.47%
• Current HPI: 318.0416
• Rent YoY: ▲ 16.21%
• 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

+81.8% since first listed

5 events — show timeline

• 2026-04-22 Pending — BNYMLS
• 2026-03-05 Listed $289,000 BNYMLS
• 2020-04-15 Sold (MLS) $150,000 BNYMLS
• 2017-02-21 Delisted — BNYMLS
• 2017-01-18 Listed $159,000 BNYMLS