97 Waverly Ave #4 · New York, NY 11205

$799,000

1 bd · 1.0 ba · 794 sqft · Condo · 104 Days on market

Built 2013 $339/mo HOA · 7% of rent ↓ 6% since listing

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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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +4.7/5.0
• Cash flow +4.5/30.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• 1% rule +1.0/10.0
• DSCR +0.0/10.0

Listing remarks

OPEN HOUSE IS BY APPOINTMENT ONLY Introducing the Lofts on Waverly! Top floor of a walkup building, and well worth it. Newly renovated and full of character, this stunning 1BR loft with office blends modern comfort with dramatic architectural flair. Soaring double-height ceilings and oversized windows flood the space with natural light. This home has plenty of amenities too, including laundry in unit, dishwasher, and central heating & air conditioning. Two private terraces offer unbeatable outdoor space and skyline views. Up one more flight of stairs, there is a separate space perfect for a home office, creative studio, or extra storage. This level is not accessible through the inte

Key facts

• Laundry in unit
• Private terraces
• Top floor

Tags

• TOP FLOOR
• NEWLY RENOVATED
• DOUBLE-HEIGHT CEILINGS
• OVERSIZED WINDOWS
• LAUNDRY IN UNIT
• PRIVATE TERRACES

Property features AI

Finance

• Other: Pets not allowed in the building
• Financial info: Building contains 10 total units
• HOA & community: Monthly association fee of $339

Exterior

• Home design: 4-story building; Entry on level 4; Zoning: R6B
• Construction: No construction details provided
• Exterior features: No notable exterior features listed; Has view

Interior

• Kitchen: No specific kitchen appliances listed
• Bedrooms: Studio/one-room layout (entry level 4)
• Bathrooms: 1 full bathroom
• Interior features: One total room; Basement: Other
• Laundry & utility: Washer hookup in unit; Building has no laundry; In-unit laundry capability

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $799k.

Deal economics

• At list price, monthly cash flow is $-2k ($-25k/yr) — negative.
• To cash-flow at today's rent, offer at most $500k (37.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $480k (39.9% below list).
• Recommended offer: $480k (39.9% below list) — sets the bar for 1% rule.
• Cap rate 3.2% vs local median 2.6% in New York — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 (+8.6%/yr); 88 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals leasing fast (median 3d 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 $4,802/mo this rent would consume 61% of the median local household income ($94k/yr) (locally 3544% 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 $85k of equity ($6k loan paydown + $80k appreciation (10.0% 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 ~$137k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($727k) 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 $480,220 (39.9% 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 104 days. Have you received any prior offers? Is the seller open to a 40% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.60% ✗
• Cap rate: 3.19%
• Cash-on-cash: -11.09%
• DSCR: 0.51
• GRM: 13.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 17.8%
• Equity multiple: 2.47×
• Total profit: $329,169
• Equity at exit: $719,803

10-year hold

• IRR: 17.7%
• Equity multiple: 6.08×
• Total profit: $1,136,305
• Equity at exit: $1,552,281

Cash invested: $223,720 (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 11205

• Home prices YoY: 2.1%
• Rents YoY: 8.6%
• Active inventory: 88
• Price-to-rent: 13.9×

Monthly cashflow live

• Estimated rent: $4,802 high
• Mortgage (P&I): −$4,190
• Tax est. 1.5%: −$999 /mo · $11,985/yr
• Insurance: −$333
• HOA: −$339
• Vacancy / Maint / Mgmt: −$1,008
• Net cashflow: $-2,067

Break-even live

Break-even rent $7,419

Max offer price $499,906

Occupancy floor —

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: $199,750
• Closing costs: $23,970
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
196 Willoughby St Brooklyn, NY	2.0	1.0–2.0	717	$6,064	$8.46	1d	8	0.67mi
343 Gold St Brooklyn, NY	3.0	1.0–2.0	903	$5,053	$5.59	4d	1	0.78mi
151 S Elliott Pl Brooklyn, NY	1.0–2.0	1.0–2.0	655	$4,670	$7.13	1d	2	0.80mi
475 Clermont Ave Brooklyn, NY	2.0	1.0–2.0	807	$5,144	$6.37	3d	7	0.81mi
540 Fulton St #1729 Brooklyn, NY	3.0	1.0–2.0	750	$5,737	$7.65	24d	4	0.81mi
482 Kent Ave Brooklyn, NY	2.0	1.0–2.0	750	$6,545	$8.73	2d	3	0.86mi
478 Kent Ave Brooklyn, NY	2.0	1.0–2.0	775	$5,920	$7.64	2d	3	0.86mi
333 Schermerhorn St Brooklyn, NY	1.0	1.0	585	$6,782	$11.58	3d	16	0.87mi
545 Vanderbilt Ave Brooklyn, NY	2.0	1.0	600	$4,910	$8.18	2d	3	0.88mi
214 Duffield St Brooklyn, NY	3.0	1.0–2.0	956	$4,347	$4.55	2d	1	0.89mi
11 Wharf Way Brooklyn, NY	1.0	1.0	610	$4,870	$7.98	1d	2	0.90mi
100 Willoughby St Brooklyn, NY	3.0	1.0–2.0	892	$5,232	$5.87	7d	1	0.91mi
111 Lawrence St Brooklyn, NY	3.0	1.0–2.0	950	$4,356	$4.58	1d	24	0.96mi
461 Dean St Brooklyn, NY	1.0	1.0	781	$5,320	$6.81	5d	5	0.97mi
150 Lawrence St Brooklyn, NY	1.0–2.0	1.0–2.0	700	$4,920	$7.03	1d	2	1.00mi
68 Gold St New York, NY	1.0–2.0	1.0	700	$3,610	$5.16	24d	2	1.01mi
160 Front St Brooklyn, NY	1.0	1.0	597	$5,191	$8.70	2d	2	1.08mi
100 Jay St Unit 6B Brooklyn, NY	1.0	1.0	800	$4,600	$5.75	24d	1	1.11mi
200 Montague St #1516 Brooklyn, NY	1.0	1.0	600	$7,500	$12.50	20d	1	1.22mi
180 Montague St Brooklyn, NY	3.0	1.0–2.0	901	$5,327	$5.91	1d	13	1.26mi
241 Atlantic Ave #879 Brooklyn, NY	1.0–3.0	1.0–2.0	1098	$5,500	$5.01	1d	3	1.27mi
250 Union Ave #2119 Brooklyn, NY	1.0–2.0	1.0	590	$3,500	$5.93	24d	2	1.28mi
141 Joralemon St #819 Brooklyn, NY	1.0–3.0	1.0–2.0	750	$5,820	$7.76	1d	3	1.35mi
655 Union St #1846 Brooklyn, NY	1.0–2.0	1.0–2.0	727	$5,780	$7.95	2d	2	1.44mi
552 Prospect Pl Unit 3A Brooklyn, NY	1.0	1.0	676	$4,500	$6.66	24d	1	1.45mi
755 Washington Ave Brooklyn, NY	1.0	1.0	700	$1,800	$2.57	20d	1	1.46mi
107 Columbia Hts #1757 Brooklyn, NY	1.0–2.0	1.0–2.0	708	$5,710	$8.06	1d	2	1.47mi

HOA detail condo

• Monthly dues: $339 · $4,068/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-06-10
   days on market $799,000 Active 104 DOM
2. 2026-06-08
   days on market $799,000 Active 103 DOM
3. 2026-06-08
   days on market $799,000 Active 102 DOM
4. 2026-06-04
   days on market $799,000 Active 99 DOM
5. 2026-06-03
   days on market $799,000 Active 98 DOM
6. 2026-06-01
   days on market $799,000 Active 96 DOM
7. 2026-05-31
   days on market $799,000 Active 95 DOM
8. 2026-04-22
   price $799,000
9. 2026-02-25
   listed $850,000 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: $57,626
• − Mortgage interest: −$44,756
• − Property taxes: −$11,985
• − Insurance: −$3,995
• − Repairs & maintenance: −$4,610
• − Management: −$4,610
• − HOA: −$4,068
• − Depreciation: −$23,244
• Taxable loss: −$39,642
• Est. tax savings @ 24.0%: +$9,514
• After-tax cash flow: $-15,290/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): 51,676
• Household income: $93,887
• Rent vs Own: 71.9% rent · 28.1% own
• Severe rent burden: 3544.0

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 0.66)
• Race & ethnicity: White 52% Black 20% Hispanic / Latino 15% Two or more races 10% Asian 7%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5% Dominican 3%
• Common ancestry: Italian 4% Scandinavian 3% Romanian 2%
• Foreign-born: 16% · Canada, China, South Korea
• Languages at home: 57% English-only · German/W. Germanic 21% Spanish 11% Chinese 4%

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: ▲ 12.40%
• Current HPI: 605.3512
• Rent YoY: ▲ 8.61%
• 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

-6.0% since first listed

2 events — show timeline

• 2026-04-22 Price Changed $799,000 RLS at REBNY
• 2026-02-25 Listed $850,000 RLS at REBNY