3021 Avenue Z Unit 2H · New York, NY 11235

$359,000

3 bd · 1.0 ba · 1,200 sqft · Condo · 106 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 +20.9/30.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• 1% rule +5.5/10.0
• Schools +5.0/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

A beautiful true 3 bedroom apartment in mint condition featuring all separate extra large rooms, parquet floors, freshly painted, new kitchen and bath both large and both have windows, lots of windows, lots of closet space, this apartment is absolutely ready for any purchaser. Monthly maint. includes gas, electricity (a/c extra fee), heat, water and sewer, cable, real estate taxes and more. Building has new laundry, secure lobby, cameras, near stores, buses, minutes to Emmons Ave.

Key facts

• Lots of closet space
• High ceilings
• Garage

Tags

• LARGE KITCHEN WITH WINDOW
• FULL BATH WITH A WINDOW
• LOTS OF CLOSET SPACE
• LIVING ROOM PLUS DINETTE
• HIGH CEILINGS
• BUILDING HAS LAUNDRY FACILITY

Property features AI

Finance

• Other: Pets are not allowed; Co-op shares reported
• Financial info: Financing available: Bank mortgage or cash; Flip tax applies
• HOA & community: Monthly maintenance common fee (approximately $1,213.23); Managed by First Service Residential; Manager phone available

Exterior

• Parking: Garage (wait-list)
• Security: Intercom door; Secure lobby
• Utilities: Electric; Gas; Heat; Sewer; Water; Other
• Home design: Residential unit; Located on floor 2
• Exterior features: Second-floor unit in a residential building; Building has 78 units

Interior

• Kitchen: Stove; Refrigerator
• Bedrooms: Three bedrooms on the first floor (including one master bedroom)
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Heat; No central AC units reported
• Interior features: Elevator; Intercom door (building); Secure lobby; Resident superintendent
• Laundry & utility: On-site card-operated laundry; Laundry area in unit

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath condo listed at $359k.

Deal economics

• At list price, monthly cash flow is $436 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $359k).
• Recommended offer: $327k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.0% 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 (+5.0%/yr); 521 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $3,776/mo this rent would consume 76% of the median local household income ($60k/yr) (locally 7823% 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 $11k 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.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($327k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; major wind risk, 72% 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 $326,690 (9.0% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.05% ✓
• Cap rate: 7.97%
• Cash-on-cash: 5.99%
• DSCR: 1.27
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.04% rent growth · sell at horizon

5-year hold

• IRR: -5.9%
• Equity multiple: 0.78×
• Total profit: $-22,431
• Equity at exit: $53,528

10-year hold

• IRR: 6.1%
• Equity multiple: 1.50×
• Total profit: $50,414
• Equity at exit: $31,040

Cash invested: $100,520 (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 11235

• Rents YoY: 5.0%
• Active inventory: 521
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $3,776 medium
• Mortgage (P&I): −$1,883
• Tax est. 1.5%: −$449 /mo · $5,385/yr
• Insurance: −$150
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$793
• Net cashflow: $436

Break-even live

Break-even rent $3,225

Max offer price $359,000

Occupancy floor 83%

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: $89,750
• Closing costs: $10,770
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3000 Emmons Ave Unit 5 Brooklyn, NY	2.0	2.0	840	$4,085	$4.86	24d	1	0.47mi
2002 E 29th St Unit 2F Brooklyn, NY	4.0	1.5	1500	$3,600	$2.40	24d	1	0.94mi

HOA detail condo

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

Listing history 17 events

1. 2026-06-18
   days on market $359,000 Active 106 DOM
2. 2026-06-17
   days on market $359,000 Active 105 DOM
3. 2026-06-15
   days on market $359,000 Active 103 DOM
4. 2026-06-13
   days on market $359,000 Active 101 DOM
5. 2026-06-10
   days on market $359,000 Active 97 DOM
6. 2026-06-08
   days on market $359,000 Active 96 DOM
7. 2026-06-08
   days on market $359,000 Active 95 DOM
8. 2026-06-04
   days on market $359,000 Active 92 DOM
9. 2026-06-03
   days on market $359,000 Active 91 DOM
10. 2026-06-01
    days on market $359,000 Active 89 DOM
11. 2026-05-31
    days on market $359,000 Active 88 DOM
12. 2026-03-04
    listed $359,000 Active
13. 2024-06-24
    soldstatus $340,000 Sold 485-char remark

    Show marketing remark (485 chars)

    A beautiful true 3 bedroom apartment in mint condition featuring all separate extra large rooms, parquet floors, freshly painted, new kitchen and bath both large and both have windows, lots of windows, lots of closet space, this apartment is absolutely ready for any purchaser. Monthly maint. includes gas, electricity (a/c extra fee), heat, water and sewer, cable, real estate taxes and more. Building has new laundry, secure lobby, cameras, near stores, buses, minutes to Emmons Ave.

14. 2024-03-04
    status Pending 485-char remark

    Show marketing remark (485 chars)

    A beautiful true 3 bedroom apartment in mint condition featuring all separate extra large rooms, parquet floors, freshly painted, new kitchen and bath both large and both have windows, lots of windows, lots of closet space, this apartment is absolutely ready for any purchaser. Monthly maint. includes gas, electricity (a/c extra fee), heat, water and sewer, cable, real estate taxes and more. Building has new laundry, secure lobby, cameras, near stores, buses, minutes to Emmons Ave.

15. 2023-04-25
    price $325,000 485-char remark

    Show marketing remark (485 chars)

    A beautiful true 3 bedroom apartment in mint condition featuring all separate extra large rooms, parquet floors, freshly painted, new kitchen and bath both large and both have windows, lots of windows, lots of closet space, this apartment is absolutely ready for any purchaser. Monthly maint. includes gas, electricity (a/c extra fee), heat, water and sewer, cable, real estate taxes and more. Building has new laundry, secure lobby, cameras, near stores, buses, minutes to Emmons Ave.

16. 2023-01-20
    listed $339,000 Active 485-char remark

    Show marketing remark (485 chars)

    A beautiful true 3 bedroom apartment in mint condition featuring all separate extra large rooms, parquet floors, freshly painted, new kitchen and bath both large and both have windows, lots of windows, lots of closet space, this apartment is absolutely ready for any purchaser. Monthly maint. includes gas, electricity (a/c extra fee), heat, water and sewer, cable, real estate taxes and more. Building has new laundry, secure lobby, cameras, near stores, buses, minutes to Emmons Ave.

17. 2021-05-03
    price $339,000

ⓘ 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 7/10 Severe FEMA zone X (unshaded) · 60% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 72% 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: $45,310
• − Mortgage interest: −$20,110
• − Property taxes: −$5,385
• − Insurance: −$2,592
• − Repairs & maintenance: −$3,625
• − Management: −$3,625
• − Depreciation: −$10,444
• Taxable loss: −$470
• Est. tax savings @ 24.0%: +$113
• After-tax cash flow: $5,339/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): 78,558
• Household income: $59,661
• Rent vs Own: 65.2% rent · 34.8% own
• Severe rent burden: 7823.0

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: Predominantly White (67%)
• Race & ethnicity: White 67% Asian 15% Two or more races 9% Hispanic / Latino 9% Black 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3%
• Common ancestry: Scotch-Irish 15% Subsaharan African 12% Romanian 2%
• Foreign-born: 63% · China, Canada, Vietnam
• Languages at home: 24% English-only · Russian/Polish/Slavic 48% Chinese 7% Spanish 7%

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: ▼ -181.73%
• Current HPI: 303.6714
• Rent YoY: ▲ 5.04%
• 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

+5.9% since first listed

6 events — show timeline

• 2026-03-04 Listed $359,000 BNYMLS
• 2024-06-24 Sold (MLS) $340,000 BNYMLS
• 2024-03-04 Pending — BNYMLS
• 2023-04-25 Price Changed $325,000 BNYMLS
• 2023-01-20 Listed $339,000 BNYMLS
• 2021-05-03 Price Changed $339,000 BNYMLS