2785 Ocean Pkwy Unit 3J · New York, NY 11235

$299,999

1 bd · 1.0 ba · 750 sqft · Condo · 87 Days on market

Built 1964 Good condition ↓ 8% 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 +23.1/30.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• 1% rule +6.0/10.0
• Schools +5.0/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• Appreciation +0.0/10.0

Listing remarks

REDUCED - MOTIVATED SELLER! IMMEDIATE SUBLET! Don't miss this super clean 1 bedroom with low maintenance in Brighton Beach well maintained elevator building located just 1/2 mile from the beach! Re-Enforced steel door, 2 coat closets, linen closet and double closet in master bedroom (9'). Features dishwasher, stainless steel refrigerator, newly painted with newly stained floors, laundry in building with beautiful oversized lobby and waiting area. Wait list garage parking and low maintenance of $723 includes gas, heat, water, septic, sewer & taxes! Close to the beach, Coney Island Hospital, shopping, and transportation (F & Q). Sublet allowed from day one! Appx 750sf

Key facts

• Built 1964
• Listed 86 days

Property features AI

Finance

• Other: Additional fee includes dishwasher; Flip tax applies (percentage)
• Financial info: Financing options: Bank mortgage, cash, exchange considered; Sub-lease allowed
• HOA & community: Monthly maintenance includes common charges; Maintenance common fee applies; Management company on-site; Pets are not allowed; Handicap access available; Co-op shares noted

Exterior

• Parking: Parking wait-list
• Security: Secure lobby; Intercom door
• Utilities: Gas; Water; Sewer; Septic
• Home design: Residential semi-detached building; Located on the 3rd floor
• Construction: Building contains 77 units
• Exterior features: Secure lobby; Intercom door

Interior

• Kitchen: Kitchen (first floor); Includes dishwasher, refrigerator, stove
• Bedrooms: One bedroom on the first floor
• Flooring: Hardwood floors; Tile floors
• Bathrooms: One full bathroom (first floor)
• Heating & cooling: Steam/radiator heat; Gas hot water; Gas heating fuel; One AC unit (wall)
• Interior features: Wall A/C unit; Dishwasher; Refrigerator; Stove
• Laundry & utility: Card-operated laundry in building

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $300k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $473 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $300k).
• Recommended offer: $282k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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); 524 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $3,308/mo this rent would consume 67% 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 $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.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($282k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; major wind risk, 72% 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 $281,999 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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.
10. 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.
11. 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: 1.10% ✓
• Cap rate: 8.45%
• Cash-on-cash: 7.71%
• DSCR: 1.34
• GRM: 7.6

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: -3.6%
• Equity multiple: 0.86×
• Total profit: $-11,441
• Equity at exit: $44,731

10-year hold

• IRR: 8.4%
• Equity multiple: 1.70×
• Total profit: $58,871
• Equity at exit: $25,938

Cash invested: $84,000 (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 11235

• Rents YoY: 5.0%
• Active inventory: 524
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $3,308 high
• Mortgage (P&I): −$1,573
• Tax est. 1.5%: −$375 /mo · $4,500/yr
• Insurance: −$125
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$695
• Net cashflow: $473

Break-even live

Break-even rent $2,708

Max offer price $299,999

Occupancy floor 81%

Sensitivity live

Price	-10% $681	-5% $577	+0% $473	+5% $370	+10% $266
Rent	-10% $212	-5% $343	+0% $473	+5% $604	+10% $735
Rate	-1.0pp $625	-0.5pp $550	base $473	+0.5pp $396	+1.0pp $317

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
532 Neptune Ave Brooklyn, NY	1.0–3.0	1.0–2.0	948	$3,375	$3.56	0d	8	0.43mi
2971 Shell Rd Unit 720 Brooklyn, NY	2.0	2.0	920	$4,100	$4.46	25d	1	0.47mi
2971 Shell Rd Unit 704 Brooklyn, NY	2.0	1.0	826	$3,950	$4.78	25d	1	0.47mi
2971 Shell Rd Unit 711 Brooklyn, NY	2.0	2.0	907	$4,200	$4.63	25d	1	0.47mi
2971 Shell Rd Unit 612 Brooklyn, NY	2.0	2.0	907	$4,150	$4.58	25d	1	0.47mi
2971 Shell Rd Unit 508 Brooklyn, NY	2.0	2.0	930	$4,099	$4.41	25d	1	0.47mi
2971 Shell Rd Unit 406 Brooklyn, NY	2.0	2.0	920	$3,550	$3.86	25d	1	0.47mi
1515 Surf Ave Brooklyn, NY	1.0–2.0	1.0	706	$3,220	$4.56	0d	14	0.93mi
2483 W 16th St Brooklyn, NY	1.0	1.0	800	$1,800	$2.25	22d	1	0.97mi

HOA detail condo

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

Listing history 14 events

1. 2026-06-21
   days on market $299,999 Active 87 DOM
2. 2026-06-18
   days on market $299,999 Active 84 DOM
3. 2026-06-17
   days on market $299,999 Active 83 DOM
4. 2026-06-15
   days on market $299,999 Active 81 DOM
5. 2026-06-13
   days on market $299,999 Active 79 DOM
6. 2026-06-10
   days on market $299,999 Active 75 DOM
7. 2026-06-08
   days on market $299,999 Active 74 DOM
8. 2026-06-08
   days on market $299,999 Active 73 DOM
9. 2026-06-04
   days on market $299,999 Active 70 DOM
10. 2026-06-03
    days on market $299,999 Active 69 DOM
11. 2026-06-01
    days on market $299,999 Active 67 DOM
12. 2026-05-31
    days on market $299,999 Active 66 DOM
13. 2026-04-10
    price $299,999
14. 2026-03-26
    listed $325,000 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 8/10 Severe FEMA zone X (shaded) · 97% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 72% 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: $39,693
• − Mortgage interest: −$16,805
• − Property taxes: −$4,500
• − Insurance: −$2,297
• − Repairs & maintenance: −$3,175
• − Management: −$3,175
• − Depreciation: −$8,727
• Taxable income: $1,013
• Est. tax owed @ 24.0%: −$243
• After-tax cash flow: $5,438/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This well-maintained 1-bedroom condo in Brighton Beach is ready for immediate sublet or sale, featuring a clean and updated interior with a good curb appeal.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics, attracting both buyers and renters.
• Both Floor refinishing — Refinishing the hardwood floors improves the home's appearance and can increase its value.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics, attracting both buyers and renters. ↑
• Both Floor refinishing — Refinishing the hardwood floors improves the home's appearance and can increase its value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-7.7% since first listed

2 events — show timeline

• 2026-04-10 Price Changed $299,999 BNYMLS
• 2026-03-26 Listed $325,000 BNYMLS