108 Division Ave #26 · New York, NY 11211

$400,000

3 bd · 1.0 ba · 900 sqft · Condo · 152 Days on market

Built 1915 ↓ 18% since listing

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Why this score? — see what drove the A- 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Listing remarks

Great opportunity to own a 3 bedroom HDFC (restricted sale) co-op in Williamsburg close Williamsburg Bridge, public transport, parks, schools and shopping. Property needs some TLC. HDFC income limits are for 3 person family $. 174,96000; 4 person family $194,400.00; 5 person family $210,000.00; 6 person family $225,600.00.

Key facts

• Built 1915
• Listed 152 days

Property features AI

Finance

• Other: Living area reported as 900 sq ft
• HOA & community: Association: 108 Division Ave HDFC

Exterior

• Parking: On-street parking
• Utilities: Public sewer; Electricity connected; Natural gas connected; Water connected
• Home design: Stock cooperative; Six-story building; unit on one level; Entry level is the 5th floor
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Galley-style layout; No appliances included
• Bathrooms: One full bathroom
• Heating & cooling: Baseboard heating; No central cooling
• Interior features: Galley-type kitchen; Six-story building; One-level unit; Entry on the 5th floor; No pets allowed; No basement; Total of 5 rooms
• Laundry & utility: No appliances (washer/dryer not listed)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath condo listed at $400k.

Deal economics

• At list price, monthly cash flow is $3k ($39k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $400k).
• Recommended offer: $352k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.9% 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 (+6.1%/yr); 135 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $7,565/mo this rent would consume 84% of the median local household income ($108k/yr) (locally 5879% 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 $43k of equity ($3k loan paydown + $40k appreciation (10.0% local appreciation)).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 6.1% rent growth), your $112k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$69k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 152 days — a 12% lower offer ($352k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $150k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• 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 $352,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 152 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 1.89% ✓
• Cap rate: 15.93%
• Cash-on-cash: 34.41%
• DSCR: 2.53
• GRM: 4.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 6.06% rent growth · sell at horizon

5-year hold

• IRR: 52.7%
• Equity multiple: 4.99×
• Total profit: $446,542
• Equity at exit: $360,352

10-year hold

• IRR: 47.5%
• Equity multiple: 11.80×
• Total profit: $1,209,453
• Equity at exit: $777,112

Cash invested: $112,000 (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 11211

• Home prices YoY: 2.6%
• Rents YoY: 6.1%
• Active inventory: 135
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $7,565 high
• Mortgage (P&I): −$2,098
• Tax est. 1.5%: −$500 /mo · $6,000/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,589
• Net cashflow: $3,212

Break-even live

Break-even rent $3,499

Max offer price $400,000

Occupancy floor 53%

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: $100,000
• Closing costs: $12,000
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
482 Kent Ave Brooklyn, NY	2.0	1.0–2.0	750	$8,290	$11.05	3d	3	0.26mi
478 Kent Ave Brooklyn, NY	2.0	1.0–2.0	775	$7,530	$9.72	3d	3	0.27mi
250 Union Ave #2119 Brooklyn, NY	1.0–2.0	1.0	590	$4,900	$8.31	24d	2	0.72mi
68 Gold St New York, NY	1.0–2.0	1.0	700	$7,050	$10.07	24d	2	0.99mi
343 Gold St Brooklyn, NY	3.0	1.0–2.0	903	$8,384	$9.28	4d	1	1.33mi
196 Willoughby St Brooklyn, NY	2.0	1.0–2.0	717	$7,921	$11.05	1d	8	1.35mi
180 Broome St #1521 New York, NY	1.0–2.0	1.0–2.0	850	$10,630	$12.51	2d	2	1.36mi
252 South St Unit 74B New York, NY	2.0	2.0	1034	$8,995	$8.70	18d	1	1.45mi
125 Delancey St #1523 New York, NY	1.0–2.0	1.0–2.0	850	$9,670	$11.38	2d	2	1.48mi
171 Suffolk St #1265 New York, NY	1.0–2.0	1.0	650	$8,710	$13.40	7d	2	1.49mi

HOA detail condo

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

Listing history 16 events

1. 2026-06-18
   days on market $400,000 Active 152 DOM
2. 2026-06-17
   days on market $400,000 Active 151 DOM
3. 2026-06-15
   days on market $400,000 Active 149 DOM
4. 2026-06-13
   days on market $400,000 Active 147 DOM
5. 2026-06-10
   days on market $400,000 Active 143 DOM
6. 2026-06-08
   days on market $400,000 Active 142 DOM
7. 2026-06-04
   days on market $400,000 Active 138 DOM
8. 2026-06-03
   days on market $400,000 Active 137 DOM
9. 2026-06-01
   days on market $400,000 Active 135 DOM
10. 2026-05-31
    pricedays on market $400,000 Active 134 DOM
11. 2026-04-21
    price $449,900
12. 2026-04-17
    status Active
13. 2026-04-16
    historical
14. 2026-03-19
    price $469,900
15. 2026-02-19
    price $519,900
16. 2026-01-15
    listed $550,000 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: $90,779
• − Mortgage interest: −$22,406
• − Property taxes: −$6,000
• − Insurance: −$2,000
• − Repairs & maintenance: −$7,262
• − Management: −$7,262
• − Depreciation: −$11,636
• Taxable income: $34,212
• Est. tax owed @ 24.0%: −$8,211
• After-tax cash flow: $30,333/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): 65,314
• Household income: $107,506
• Rent vs Own: 82.8% rent · 17.2% own
• Severe rent burden: 5879.0

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 0.58)
• Race & ethnicity: White 59% Hispanic / Latino 26% Two or more races 9% Asian 7% Black 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 10% Dominican 6%
• Common ancestry: Italian 4% Romanian 3% Lithuanian 2%
• Foreign-born: 23% · Canada, China, Jamaica
• Languages at home: 50% English-only · Spanish 21% German/W. Germanic 17% Other Indo-European 3%

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: ▲ 14.72%
• Current HPI: 588.2538
• Rent YoY: ▲ 6.06%
• 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

-18.2% since first listed

6 events — show timeline

• 2026-04-21 Price Changed $449,900 OneKey® MLS as Distributed by MLS Grid
• 2026-04-17 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2026-04-16 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-03-19 Price Changed $469,900 OneKey® MLS as Distributed by MLS Grid
• 2026-02-19 Price Changed $519,900 OneKey® MLS as Distributed by MLS Grid
• 2026-01-15 Listed $550,000 OneKey® MLS as Distributed by MLS Grid