46 Seth Ct Unit A · New York, NY 10301

$99,500

1 bd · 1.0 ba · 635 sqft · Condo · 78 Days on market

Built 1951 Poor 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this 1-bedroom co-op in the desirable Grymes Hill neighborhood. This first-floor unit features original hardwood floors and a classic layout, offering a bright and comfortable living space. Situated on a quiet, tree-lined cul-de-sac, the home provides a peaceful setting while remaining not too far from transportation, shopping, and parks. The unit offers an opportunity for updates and has been thoughtfully priced. Being sold as-is, it's an ideal opportunity for an investor seeking value. All purchasers are subject to co-op board approval.

Key facts

• Peaceful setting
• Built 1951
• Listed 78 days

Tags

• GRYMES HILL NEIGHBORHOOD
• ORIGINAL HARDWOOD FLOORS
• TREE-LINED CUL-DE-SAC
• PEACEFUL SETTING

Property features AI

Finance

• Other: Flip tax assessed as a percentage; Co-op shares: 203.00
• Financial info: Financing available: Bank mortgage or cash; Tenant monthly rent: $1,031.67
• HOA & community: Monthly maintenance/common fee of $878.58; Managed by CRM Manament Services; Pets are not allowed

Exterior

• Utilities: Heat; Water
• Home design: Residential property; First floor unit
• Exterior features: First-floor unit; Located in a building with 84 total units

Interior

• Kitchen: Refrigerator; Stove
• Bedrooms: One bedroom on the first floor
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Heat included (utility); No central air
• Interior features: Refrigerator; Stove; No central air (0 AC units)

🏢 Co-op / cooperative unit. The $99,500 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 $100k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $423 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.4% 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.
• Zoned schools: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% FRL); Is 27 Anning S Prall (math 52% / reading 67%, grade B, #161 of 729 statewide, top 24%, 952 students, 76% FRL); Midwood High School (math 94% / reading 96%, grade A+, #83 of 1,100 statewide, top 8%, 4,062 students, 73% FRL).
• Market conditions: Rents rising fast (+6.1%/yr); 265 active listings in the ZIP; solid renter incomes; 480 units permitted in Richmond County in 2024 (22 in 5+ unit buildings).
• This rent runs 34% of the median local income ($86k/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 $688 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Richmond County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 6.1% rent growth), your $28k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($94k) 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

• Watch-outs: HOA is 33% of rent; built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 61% 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 $93,530 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 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 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
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: 2.40% ✓
• Cap rate: 11.40%
• Cash-on-cash: 18.23%
• DSCR: 1.81
• GRM: 3.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.07% rent growth · sell at horizon

5-year hold

• IRR: 15.9%
• Equity multiple: 1.68×
• Total profit: $18,956
• Equity at exit: $14,836

10-year hold

• IRR: 28.0%
• Equity multiple: 4.11×
• Total profit: $86,571
• Equity at exit: $8,603

Cash invested: $27,860 (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 10301

• Rents YoY: 6.1%
• Active inventory: 265
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $2,391 medium
• Mortgage (P&I): −$522
• Tax est. 1.5%: −$124 /mo · $1,492/yr
• Insurance: −$41
• HOA est. from 2 same-building comps: −$778
• Vacancy / Maint / Mgmt: −$502
• Net cashflow: $423

Break-even live

Break-even rent $1,855

Max offer price $99,500

Occupancy floor 77%

Sensitivity live

Price	-10% $492	-5% $458	+0% $423	+5% $389	+10% $354
Rent	-10% $234	-5% $329	+0% $423	+5% $518	+10% $612
Rate	-1.0pp $473	-0.5pp $448	base $423	+0.5pp $397	+1.0pp $371

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: $24,875
• Closing costs: $2,985
• 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 14 events

1. 2026-06-21
   days on market $99,500 Active 78 DOM
2. 2026-06-18
   days on market $99,500 Active 75 DOM
3. 2026-06-17
   days on market $99,500 Active 74 DOM
4. 2026-06-15
   days on market $99,500 Active 72 DOM
5. 2026-06-13
   days on market $99,500 Active 70 DOM
6. 2026-06-10
   days on market $99,500 Active 66 DOM
7. 2026-06-08
   days on market $99,500 Active 65 DOM
8. 2026-06-08
   days on market $99,500 Active 64 DOM
9. 2026-06-04
   days on market $99,500 Active 61 DOM
10. 2026-06-03
    days on market $99,500 Active 60 DOM
11. 2026-06-01
    days on market $99,500 Active 58 DOM
12. 2026-05-31
    days on market $99,500 Active 57 DOM
13. 2026-04-04
    listed $99,500 Active
14. 2026-04-03
    listed $99,500 Active 561-char remark

    Show marketing remark (561 chars)

    Welcome to this 1-bedroom co-op in the desirable Grymes Hill neighborhood. This first-floor unit features original hardwood floors and a classic layout, offering a bright and comfortable living space. Situated on a quiet, tree-lined cul-de-sac, the home provides a peaceful setting while remaining not too far from transportation, shopping, and parks. The unit offers an opportunity for updates and has been thoughtfully priced. Being sold as-is, it's an ideal opportunity for an investor seeking value. All purchasers are subject to co-op board approval.

ⓘ 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 ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 61% 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: $28,691
• − Mortgage interest: −$5,574
• − Property taxes: −$1,492
• − Insurance: −$498
• − Repairs & maintenance: −$2,295
• − Management: −$2,295
• − HOA: −$9,336
• − Depreciation: −$2,895
• Taxable income: $4,306
• Est. tax owed @ 24.0%: −$1,033
• After-tax cash flow: $4,045/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 · 1 photo

Poor 20/100 Extensive rehab

This co-op unit requires extensive repairs and maintenance, including exterior and interior painting, flooring replacement, and landscaping. Significant updates are needed to improve its resale and rental value.

Repairs flagged

• Major exterior siding — Severe weathering and peeling
• Major exterior paint — Significant peeling and deterioration

Value-add opportunities

• Both repair and paint exterior — Improves curb appeal and overall condition
• Both repair and paint interior walls — Enhances interior appearance and comfort
• Both replace flooring — Improves living space and adds value
• Both repair and paint windows — Enhances natural light and appearance
• Both repair and paint foundation — Improves structural integrity and appearance
• Both repair and paint HVAC/mechanicals — Enhances comfort and energy efficiency
• Both landscape and improve curb appeal — Enhances overall property value and appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Severe weathering and peeling	Major	$15,000–50,000
exterior paint · Significant peeling and deterioration	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both repair and paint exterior — Improves curb appeal and overall condition ↑
• Both repair and paint interior walls — Enhances interior appearance and comfort ↑
• Both replace flooring — Improves living space and adds value ↑
• Both repair and paint windows — Enhances natural light and appearance ↑
• Both repair and paint foundation — Improves structural integrity and appearance ↑
• Both repair and paint HVAC/mechanicals — Enhances comfort and energy efficiency ↑
• Both landscape and improve curb appeal — Enhances overall property value and appeal ↑

ⓘ 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: Richmond County · 404,174 people
• City population: 7,731,280
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 41,052
• Household income: $85,609
• Rent vs Own: 54.2% rent · 45.8% own
• Severe rent burden: 2008.0

Population outlook (Richmond County) Hauer SSP2

• Today (2025): 482,784 people
• By 2030: 481,831 · -0.2%
• By 2040: 473,159 · -2.0%
• By 2050: 457,242 · -5.3%
• By 2075: 408,029 · -15.5%
• By 2100: 341,459 · -29.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: White 37% Hispanic / Latino 29% Black 23% Two or more races 16% Asian 7%
• Hispanic origin (detail): Mexican 5% Puerto Rican 10% Cuban 2% Dominican 6%
• Common ancestry: Romanian 3% Scotch-Irish 2% Italian 1%
• Foreign-born: 22% · Canada, China, Jamaica
• Languages at home: 68% English-only · Spanish 16% Other Indo-European 5% Russian/Polish/Slavic 3%

Political lean MEDSL · Richmond

• 2024 margin: Strong R (+29.8) · D 35.1% · R 64.9%
• 2008→2024 swing: -25.7pp toward R · 2008: -4.0pp · 2024: -29.8pp
• All cycles: 2024: R+29.8 2020: R+14.9 2016: R+16.8 2012: D+0.8 2008: R+4.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -407.37%
• Current HPI: 319.0616
• Rent YoY: ▲ 6.07%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-04-04 Listed $99,500 BNYMLS
• 2026-04-03 Listed $99,500 RLS at REBNY