2922 Nostrand Ave Unit 6A · New York, NY 11229

$207,000

1 bd · 1.0 ba · 750 sqft · Condo · 63 Days on market

Built 1960 Fair condition

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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 +26.6/30.0
• DSCR +9.1/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

BROOKLYN TOP FLOOR COOP FOR SALE: MADISON • MARINE PARK • MIDWOOD • SHEEPSHEAD BAY! JUST MINUTES FROM ALL THESE GREAT AREAS! Top floor corner unit with great Southeast views! 1br 1ba 6th floor of elevator building features wood floors, updated kitchen & bath, lots of light & closets, low maintenance, live in super, card operated w/ d, wait list parking, & rentals allowed with minimal fee of 10% of maintenance charges. Board approval required. • Maintenance: $892.47 - Assessment: $124.25 - sq ft: 750sf (appx) - Shares: 213 - Rental: IMMEDIATE (Fee) - Pets: Allowed - Built 1960 - Flip tax: $12 per share - Window in Kitchen: YES - Window in bath: YES - Park

Key facts

• Window in kitchen
• Updated bath
• Updated kitchen

Tags

• TOP FLOOR CORNER UNIT
• SOUTHEAST VIEWS
• UPDATED KITCHEN
• UPDATED BATH
• LOTS OF LIGHT
• WINDOW IN KITCHEN

Property features AI

Finance

• Other: Co-op shares associated with the unit
• Financial info: Sub-lease permitted; Financing options may include bank mortgage, cash, or exchange considered; 20% typical down payment required; Flip tax applies
• HOA & community: Monthly maintenance/ common fee; Management by Newport Management LLC; Pets allowed (restrictions — see agent)

Exterior

• Parking: Garage (wait-list)
• Security: Secure lobby; Intercom door
• Utilities: Gas service; Municipal water; Sewer; Septic; Steam/radiator heating fuel: gas
• Home design: Detached building; Residential property
• Exterior features: Located on the 6th floor of the building; Part of a detached residential building; Building has 69 units

Interior

• Kitchen: Stove; Refrigerator
• Bedrooms: One bedroom on the first floor
• Flooring: Hardwood floors; Tile floors
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Steam/radiator heat; Gas hot water; No central AC units
• Interior features: Elevator access; Intercom door; Resident superintendent; Secure lobby
• Laundry & utility: Card-operated laundry in building

🏢 Co-op / cooperative unit. The $207,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $207k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $557 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $207k).
• Recommended offer: $195k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.5% 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 (+15.8%/yr); 355 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• This rent runs 43% of the median local income ($71k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 + 8.0% rent growth), your $58k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($195k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: 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 $194,580 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.22% ✓
• Cap rate: 9.52%
• Cash-on-cash: 11.53%
• DSCR: 1.51
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 6.4%
• Equity multiple: 1.26×
• Total profit: $15,246
• Equity at exit: $30,864

10-year hold

• IRR: 19.8%
• Equity multiple: 3.06×
• Total profit: $119,593
• Equity at exit: $17,898

Cash invested: $57,960 (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 11229

• Rents YoY: 15.8%
• Active inventory: 355
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $2,516 medium
• Mortgage (P&I): −$1,086
• Tax est. 1.5%: −$259 /mo · $3,105/yr
• Insurance: −$86
• HOA: −$0
• Vacancy / Maint / Mgmt: −$528
• Net cashflow: $557

Break-even live

Break-even rent $1,811

Max offer price $207,000

Occupancy floor 73%

Sensitivity live

Price	-10% $700	-5% $628	+0% $557	+5% $485	+10% $414
Rent	-10% $358	-5% $457	+0% $557	+5% $656	+10% $755
Rate	-1.0pp $661	-0.5pp $609	base $557	+0.5pp $503	+1.0pp $449

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: $51,750
• Closing costs: $6,210
• Reserves months: —
• Total cash needed: —

HOA detail condo

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

Listing history 2 events

1. 2026-04-30
   status Pending
2. 2026-02-26
   listed $207,000 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 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: $30,186
• − Mortgage interest: −$11,595
• − Property taxes: −$3,105
• − Insurance: −$1,035
• − Repairs & maintenance: −$2,415
• − Management: −$2,415
• − Depreciation: −$6,022
• Taxable income: $3,599
• Est. tax owed @ 24.0%: −$864
• After-tax cash flow: $5,817/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 · 11 photos

Fair 45/100 Moderate rehab

This top-floor corner unit in a Brooklyn coop building requires moderate renovations to improve its condition and increase its value.

Repairs flagged

• Minor Kitchen cabinets — Worn but still functional, could be refinished or replaced.
• Minor Bathroom fixtures — Standard fixtures, could be replaced with modern ones.
• Moderate Roof inspection — Further inspection needed to determine condition and potential repairs.
• Moderate Exterior siding inspection — Further inspection needed to determine condition and potential repairs.
• Moderate HVAC inspection — Further inspection needed to determine condition and potential repairs.
• Minor Landscaping — Could benefit from some updates to enhance curb appeal.

Value-add opportunities

• Both Kitchen renovation — Updating the kitchen can significantly increase both resale and rental value.
• Both Bathroom renovation — Updating the bathroom can significantly increase both resale and rental value.
• Both Exterior painting — Fresh paint can enhance curb appeal and increase both resale and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn but still functional, could be refinished or replaced.	Minor	$500–3,000
Bathroom fixtures · Standard fixtures, could be replaced with modern ones.	Minor	$500–3,000
Roof inspection · Further inspection needed to determine condition and potential repairs.	Moderate	$3,000–15,000
Exterior siding inspection · Further inspection needed to determine condition and potential repairs.	Moderate	$3,000–15,000
HVAC inspection · Further inspection needed to determine condition and potential repairs.	Moderate	$3,000–15,000
Landscaping · Could benefit from some updates to enhance curb appeal.	Minor	$500–3,000
Total estimated repair cost · 6 items		$10,500–54,000

Value-add ROI direction

• Both Kitchen renovation — Updating the kitchen can significantly increase both resale and rental value. ↑
• Both Bathroom renovation — Updating the bathroom can significantly increase both resale and rental value. ↑
• Both Exterior painting — Fresh paint can enhance curb appeal and increase both resale and rental 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): 78,377
• Household income: $70,603
• Rent vs Own: 53.1% rent · 46.9% own
• Severe rent burden: 4771.0

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: White 59% Asian 22% Hispanic / Latino 9% Black 6% Two or more races 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Scotch-Irish 6% Subsaharan African 6% Romanian 1%
• Foreign-born: 47% · China, Canada, Vietnam
• Languages at home: 40% English-only · Russian/Polish/Slavic 22% Chinese 16% Spanish 6%

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: ▼ -761.52%
• Current HPI: 361.7011
• Rent YoY: ▲ 15.81%
• 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 events — show timeline

• 2026-04-30 Pending — BNYMLS
• 2026-02-26 Listed $207,000 BNYMLS