590 Parkside Ave Unit 2CE · New York, NY 11226

$325,000

1 bd · 1.0 ba · 650 sqft · Condo · 200 Days on market

↓ 3% since listing

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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 +20.7/30.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• Appreciation +6.4/10.0
• 1% rule +5.5/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to this beautifully maintained HDFC pre-war co-op! This charming 1 br unit has undergone cosmetic renovations, including fresh paint throughout, new white kitchen cabinets, a brand-new refrigerator, and "Sanded & sealed parquet flooring—elegant, durable, and ready to impress! New lighting in the bedroom and kitchen. Upon entry, you’re welcomed into a spacious hall that leads to the kitchen on the left and a bright, airy living room on the right. The home features large rooms with stunning hardwood floors and abundant natural light that fills the living space. Additional features include: storage space available for a monthly fee; heat, hot water, and sewer

Key facts

• Hardwood floors
• Listed 200 days

Tags

• NEW WHITE KITCHEN CABINETS
• BRAND NEW REFRIGERATOR
• HARDWOOD FLOORS
• ABUNDANT NATURAL LIGHT
• STORAGE SPACE AVAILABLE

Property features AI

Finance

• Other: Part of a 40-unit building; Listing is a sub-lease
• Financial info: Flip tax: 10%; Financing accepted: Exchange considered, Bank mortgage, Cash; Down payment typically 20%
• HOA & community: Common maintenance fee of $637; Managed by 590 Tenant Association (manager phone: [phone]); Pets allowed (restrictions — see agent); Co-op shares: 250.00

Exterior

• Parking: Street parking
• Utilities: Heat; Sewer; Water
• Home design: Attached building; Residential unit on the 2nd floor of the building
• Exterior features: Street parking

Interior

• Kitchen: Refrigerator; Stove
• Bedrooms: One bedroom on the first floor
• Flooring: Hardwood floors; Parquet floors
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Air conditioning (1 unit)
• Interior features: Refrigerator; Stove; 9+ foot ceilings; Hardwood floors; Parquet floors; 1 AC unit

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $325k.

Deal economics

• At list price, monthly cash flow is $439 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $325k).
• Recommended offer: $286k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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 (+4.0%/yr); 151 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $3,398/mo this rent would consume 50% of the median local household income ($81k/yr) (locally 8485% 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 $12k of equity ($2k loan paydown + $9k appreciation (2.9% local appreciation)).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (2.9% appreciation + 4.0% rent growth), your $91k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 200 days — a 12% lower offer ($286k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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

• Climate carrying-cost: major wind risk, 64% 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 $286,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 200 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 7.91%
• Cash-on-cash: 5.79%
• DSCR: 1.26
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.87% appreciation · 4.0% rent growth · sell at horizon

5-year hold

• IRR: 13.2%
• Equity multiple: 1.75×
• Total profit: $68,436
• Equity at exit: $143,830

10-year hold

• IRR: 15.7%
• Equity multiple: 3.33×
• Total profit: $212,460
• Equity at exit: $219,884

Cash invested: $91,000 (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 11226

• Home prices YoY: 0.9%
• Rents YoY: 4.0%
• Active inventory: 151
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $3,398 high
• Mortgage (P&I): −$1,704
• Tax est. 1.5%: −$406 /mo · $4,875/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$714
• Net cashflow: $439

Break-even live

Break-even rent $2,843

Max offer price $325,000

Occupancy floor 82%

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
649 Winthrop St Brooklyn, NY	1.0	1.0	500	$2,500	$5.00	24d	1	0.81mi
955 Sterling Pl Unit 415 Brooklyn, NY	2.0	1.0	680	$5,150	$7.57	24d	1	1.20mi
955 Sterling Pl #1936 Brooklyn, NY	1.0	1.0	540	$3,170	$5.87	20d	1	1.21mi
755 Washington Ave Brooklyn, NY	1.0	1.0	700	$1,800	$2.57	20d	1	1.34mi
552 Prospect Pl Unit 3A Brooklyn, NY	1.0	1.0	676	$4,500	$6.66	24d	1	1.36mi
668 Nostrand Ave #1 Brooklyn, NY	1.0	1.0	611	$4,200	$6.87	18d	1	1.37mi

HOA detail condo

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

Listing history 14 events

1. 2026-06-18
   days on market $325,000 Active 200 DOM
2. 2026-06-17
   days on market $325,000 Active 199 DOM
3. 2026-06-15
   days on market $325,000 Active 197 DOM
4. 2026-06-13
   days on market $325,000 Active 195 DOM
5. 2026-06-10
   days on market $325,000 Active 191 DOM
6. 2026-06-08
   pricedays on market $325,000 Active 190 DOM
7. 2026-06-04
   days on market $330,000 Active 186 DOM
8. 2026-06-03
   days on market $330,000 Active 185 DOM
9. 2026-06-01
   days on market $330,000 Active 183 DOM
10. 2026-05-31
    days on market $330,000 Active 182 DOM
11. 2026-02-09
    price $330,000
12. 2026-02-09
    status Active
13. 2025-12-30
    historical
14. 2025-10-20
    listed $339,000 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 64% 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: $40,782
• − Mortgage interest: −$18,205
• − Property taxes: −$4,875
• − Insurance: −$1,625
• − Repairs & maintenance: −$3,263
• − Management: −$3,263
• − Depreciation: −$9,455
• Taxable income: $97
• Est. tax owed @ 24.0%: −$23
• After-tax cash flow: $5,242/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): 95,144
• Household income: $81,014
• Rent vs Own: 86.0% rent · 14.0% own
• Severe rent burden: 8485.0

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 0.60)
• Race & ethnicity: Black 59% Hispanic / Latino 16% White 14% Two or more races 9% Asian 4% Native American 1%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3% Dominican 2%
• Common ancestry: Hispanic 12% Romanian 1% Italian 1%
• Foreign-born: 43% · Canada, China, Mexico
• Languages at home: 65% English-only · French/Haitian/Cajun 14% Spanish 13% Other Indo-European 2%

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: ▲ 2.87%
• Current HPI: 331.4138
• Rent YoY: ▲ 4.00%
• 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

-2.7% since first listed

4 events — show timeline

• 2026-02-09 Price Changed $330,000 BNYMLS
• 2026-02-09 Relisted — BNYMLS
• 2025-12-30 Delisted — BNYMLS
• 2025-10-20 Listed $339,000 BNYMLS