2630 Cropsey Ave Unit 9B · New York, NY 11214

$289,000

1 bd · 1.0 ba · 800 sqft · Condo · 497 Days on market

Built 1963 ↓ 15% since listing

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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
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• 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
• Appreciation +0.0/10.0

Listing remarks

Welcome to Waterview Towers located in the Bath Beach section of Brooklyn. This beautiful 9th floor, one-bedroom, one-bathroom coop offers a perfect blend of comfort and style, with breathtaking views of both Manhattan and Coney Island. The spacious living room is flooded with natural light, creating a warm and inviting atmosphere. The home features a beautifully renovated kitchen with elegant wood cabinets and stylish tile floors, perfect for culinary enthusiasts. Laminate flooring has been recently added to the living room and bedroom, providing a cozy, comfortable feel, while the bathroom has original charm with some updated touch to include a new vanity, light fixture, and a ceiling fan

Key facts

• Breathtaking views
• Light fixture
• Tile floors

Tags

• BREATHTAKING VIEWS
• RENOVATED KITCHEN
• TILE FLOORS
• ORIGINAL CHARM
• NEW VANITY
• LIGHT FIXTURE

Property features AI

Finance

• Other: Unit is available for sub-lease
• Financial info: Financing available: Bank mortgage or cash; Typical down payment: 20%; Flip tax: $7,950
• HOA & community: Monthly maintenance/ common fee (maintenance): $847.25; Additional monthly fee: $60 (includes air conditioning); Management: Paul O'Leary (718-372-5955); Co-op shares: 318.00; Pets are not allowed (see agent for restrictions); Handicap access available

Exterior

• Parking: Parking wait-list
• Security: Secure lobby; Security patrol
• Utilities: Electric; Gas; Heat; Sewer; Water; Septic
• Home design: Residential property; Located on the 9th floor
• Construction: Detached building construction
• Exterior features: Terrace; Detached building; Building has 164 units

Interior

• Kitchen: Stove; Refrigerator
• Bedrooms: One bedroom on the first floor
• Flooring: Carpeting; Tile floors
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Steam/radiator heat; Window air conditioning units (2)
• Interior features: Window A/C units (2); Elevator access; Terrace; Secure lobby; Storage rooms; Resident superintendent; Recreational room; Card-operated laundry
• Laundry & utility: On-site card-operated laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $289k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $289k).
• Recommended offer: $254k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.2% 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); Is 98 Bay Academy (math 96% / reading 96%, grade A+, #2 of 729 statewide, top 0%, 1,488 students, 63% 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 (+5.9%/yr); 334 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $4,036/mo this rent would consume 74% of the median local household income ($66k/yr) (locally 6028% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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 + 5.9% rent growth), your $81k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 497 days — a 12% lower offer ($254k) is reasonable based on typical stale-listing flexibility.

Recommended offer $254,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 497 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 1963 — 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: 1.40% ✓
• Cap rate: 11.24%
• Cash-on-cash: 17.67%
• DSCR: 1.79
• GRM: 6.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.87% rent growth · sell at horizon

5-year hold

• IRR: 12.3%
• Equity multiple: 1.51×
• Total profit: $41,107
• Equity at exit: $43,091

10-year hold

• IRR: 23.4%
• Equity multiple: 3.30×
• Total profit: $185,947
• 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 11214

• Rents YoY: 5.9%
• Active inventory: 334
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $4,036 high
• Mortgage (P&I): −$1,516
• Tax est. 1.5%: −$361 /mo · $4,335/yr
• Insurance: −$120
• HOA: −$0
• Vacancy / Maint / Mgmt: −$848
• Net cashflow: $1,191

Break-even live

Break-even rent $2,528

Max offer price $289,000

Occupancy floor 65%

Sensitivity live

Price	-10% $1,391	-5% $1,291	+0% $1,191	+5% $1,092	+10% $992
Rent	-10% $873	-5% $1,032	+0% $1,191	+5% $1,351	+10% $1,510
Rate	-1.0pp $1,337	-0.5pp $1,265	base $1,191	+0.5pp $1,117	+1.0pp $1,040

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 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2483 W 16th St Brooklyn, NY	1.0	1.0	800	$1,800	$2.25	22d	1	0.38mi
2286 Cropsey Ave Unit 13E Brooklyn, NY	2.0	2.0	948	$5,550	$5.85	20d	1	0.54mi
2286 Cropsey Ave Unit 6A Brooklyn, NY	2.0	2.0	889	$5,125	$5.76	26d	1	0.54mi
2286 Cropsey Ave Unit 18B Brooklyn, NY	2.0	2.0	889	$5,300	$5.96	20d	1	0.54mi
2286 Cropsey Ave Unit 19C Brooklyn, NY	1.0	1.0	544	$3,600	$6.62	20d	1	0.54mi
2286 Cropsey Ave Unit 7E Brooklyn, NY	2.0	2.0	948	$5,250	$5.54	20d	1	0.54mi
2286 Cropsey Ave Unit 9A Brooklyn, NY	2.0	2.0	889	$5,200	$5.85	20d	1	0.54mi
2286 Cropsey Ave Unit 8B Brooklyn, NY	2.0	2.0	889	$5,000	$5.62	20d	1	0.54mi
63 Bay 37th St Unit 1R Brooklyn, NY	2.0	1.0	900	$3,100	$3.44	26d	1	0.58mi
1515 Surf Ave Brooklyn, NY	1.0–2.0	1.0	706	$3,220	$4.56	0d	16	0.99mi
2971 Shell Rd Unit 720 Brooklyn, NY	2.0	2.0	920	$4,100	$4.46	26d	1	1.01mi
2971 Shell Rd Unit 704 Brooklyn, NY	2.0	1.0	826	$3,950	$4.78	26d	1	1.01mi
2971 Shell Rd Unit 711 Brooklyn, NY	2.0	2.0	907	$4,200	$4.63	26d	1	1.01mi
2971 Shell Rd Unit 612 Brooklyn, NY	2.0	2.0	907	$4,150	$4.58	26d	1	1.01mi
2971 Shell Rd Unit 508 Brooklyn, NY	2.0	2.0	930	$4,099	$4.41	26d	1	1.01mi
2971 Shell Rd Unit 406 Brooklyn, NY	2.0	2.0	920	$3,550	$3.86	26d	1	1.01mi
532 Neptune Ave Brooklyn, NY	1.0–3.0	1.0–2.0	948	$3,375	$3.56	0d	8	1.10mi

HOA detail condo

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

Listing history 9 events

1. 2026-05-18
   status Pending
2. 2026-04-22
   price $289,000
3. 2026-01-15
   price $294,000
4. 2025-07-16
   price $299,000
5. 2025-06-11
   price $305,000
6. 2025-03-13
   price $310,000
7. 2025-03-11
   price $319,000
8. 2025-02-23
   price $325,000
9. 2025-01-06
   listed $340,000 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: $48,436
• − Mortgage interest: −$16,188
• − Property taxes: −$4,335
• − Insurance: −$1,445
• − Repairs & maintenance: −$3,875
• − Management: −$3,875
• − Depreciation: −$8,407
• Taxable income: $10,311
• Est. tax owed @ 24.0%: −$2,475
• After-tax cash flow: $11,823/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): 89,397
• Household income: $65,895
• Rent vs Own: 65.4% rent · 34.6% own
• Severe rent burden: 6028.0

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 0.67)
• Race & ethnicity: White 40% Asian 38% Hispanic / Latino 17% Two or more races 6% Black 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3% Dominican 2%
• Common ancestry: Scotch-Irish 4% Subsaharan African 3% Romanian 2%
• Foreign-born: 56% · China, Canada, Vietnam
• Languages at home: 26% English-only · Chinese 28% Russian/Polish/Slavic 15% Spanish 13%

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: ▼ -184.55%
• Current HPI: 276.0804
• Rent YoY: ▲ 5.87%
• 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

-15.0% since first listed

9 events — show timeline

• 2026-05-18 Pending — BNYMLS
• 2026-04-22 Price Changed $289,000 BNYMLS
• 2026-01-15 Price Changed $294,000 BNYMLS
• 2025-07-16 Price Changed $299,000 BNYMLS
• 2025-06-11 Price Changed $305,000 BNYMLS
• 2025-03-13 Price Changed $310,000 BNYMLS
• 2025-03-11 Price Changed $319,000 BNYMLS
• 2025-02-23 Price Changed $325,000 BNYMLS
• 2025-01-06 Listed $340,000 BNYMLS