1199 E 53rd St Unit 3R · New York, NY 11234

$299,000

2 bd · 1.0 ba · 900 sqft · Condo · 34 Days on market

Built 1950 Excellent condition

---

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 +18.5/30.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• 1% rule +5.0/10.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Condition / age +4.8/5.0
• Livability +3.8/5.0
• Appreciation +0.0/10.0

Listing remarks

Price reduced for a quick sale! Don’t miss this opportunity to be the first to live in this beautifully gut-renovated Brooklyn apartment. Stunning Manhattan-style designer kitchen, Featuring top-of-the-line stainless steel appliances, sleek cabinetry, and modern finishes. Spacious 2-bedroom layout. Designed for comfortable city living with excellent natural light and a smart floor plan. Elegant spa-inspired bathroom. Thoughtfully renovated with upscale fixtures and a luxurious feel. Beautiful hardwood floors throughout. Warm, timeless flooring adds character and sophistication to every room. Closets galore. Ample storage space throughout the apartment keeps everything organized and cl

Key facts

• Smart toilet
• Recessed lighting
• Hardwood floors

Tags

• STAINLESS STEEL APPLIANCES
• CUSTOM BATHROOM
• SMART TOILET
• HAND HELD EUROPEAN SHOWER
• HARDWOOD FLOORS
• RECESSED LIGHTING

Property features AI

Finance

• Other: Unit is listed as sub-lease
• Financial info: Financing accepted: Bank mortgage or cash; Typical down payment indicated (10%); Flip tax noted
• HOA & community: Monthly maintenance/common fee; Building managed by Akram Management; Manager contact available; Pets are not allowed; Handicap access available; Co-op shares associated with the unit

Exterior

• Parking: Wait-list for parking
• Utilities: Electric service available; Gas hot water; Gas heating; Water and sewer available; Septic listed
• Home design: Residential property; Third floor location
• Exterior features: Detached building; Third-floor unit; Part of a larger building with multiple units

Interior

• Kitchen: Dishwasher, Microwave, Refrigerator, Stove
• Bedrooms: Two bedrooms on the first floor
• Flooring: Hardwood floors
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Steam/radiator heat; Gas hot water and heating fuel
• Interior features: Dishwasher; Microwave; Refrigerator; Stove; Hardwood floors; No central air conditioning (0 AC units)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $299k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $284 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $298k (0.5% below list).
• Recommended offer: $290k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.4% 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.
• Market conditions: Rents rising fast (+16.2%/yr); 459 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• This rent runs 37% of the median local income ($97k/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 $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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $84k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($290k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 65% 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 $290,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 1.00% ✗
• Cap rate: 7.43%
• Cash-on-cash: 4.08%
• DSCR: 1.18
• GRM: 8.4

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: -4.4%
• Equity multiple: 0.83×
• Total profit: $-14,566
• Equity at exit: $44,582

10-year hold

• IRR: 10.3%
• Equity multiple: 1.98×
• Total profit: $82,397
• Equity at exit: $25,852

Cash invested: $83,720 (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 11234

• Rents YoY: 16.2%
• Active inventory: 459
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $2,976 medium
• Mortgage (P&I): −$1,568
• Tax est. 1.5%: −$374 /mo · $4,485/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$625
• Net cashflow: $284

Break-even live

Break-even rent $2,616

Max offer price $299,000

Occupancy floor 85%

Sensitivity live

Price	-10% $491	-5% $388	+0% $284	+5% $181	+10% $78
Rent	-10% $49	-5% $167	+0% $284	+5% $402	+10% $519
Rate	-1.0pp $435	-0.5pp $360	base $284	+0.5pp $207	+1.0pp $128

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1455 Royce St Unit 1H Brooklyn, NY	3.0	2.0	1113	$3,700	$3.32	25d	1	0.97mi

HOA detail condo

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

Listing history 15 events

1. 2026-06-18
   days on market $299,000 Active 34 DOM
2. 2026-06-17
   days on market $299,000 Active 33 DOM
3. 2026-06-16
   days on market $299,000 Active 32 DOM
4. 2026-06-15
   days on market $299,000 Active 31 DOM
5. 2026-06-13
   remarks 693-char remark
6. 2026-06-13
   pricedays on market $299,000 Active 29 DOM
7. 2026-06-10
   days on market $325,000 Active 25 DOM
8. 2026-06-08
   days on market $325,000 Active 24 DOM
9. 2026-06-08
   days on market $325,000 Active 23 DOM
10. 2026-06-04
    days on market $325,000 Active 20 DOM
11. 2026-06-03
    days on market $325,000 Active 19 DOM
12. 2026-06-02
    days on market $325,000 Active 18 DOM
13. 2026-06-01
    days on market $325,000 Active 17 DOM
14. 2026-05-31
    days on market $325,000 Active 16 DOM
15. 2026-05-15
    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 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 65% 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: $35,707
• − Mortgage interest: −$16,749
• − Property taxes: −$4,485
• − Insurance: −$1,495
• − Repairs & maintenance: −$2,857
• − Management: −$2,857
• − Depreciation: −$8,698
• Taxable loss: −$1,433
• Est. tax savings @ 24.0%: +$344
• After-tax cash flow: $3,757/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

Excellent 95/100 Gut rehab

This gut-renovated 2-bedroom, 1-bath co-op is move-in ready with custom European granite countertops, smart toilet, and hand-held Europlean shower, all enhancing its resale and rental value.

Value-add opportunities

• Resale Custom European granite countertops — Enhances aesthetic and value
• Resale Smart toilet and hand-held Europlean shower — Modernizes bathroom and adds luxury
• Resale Brand new hardwood floors — Improves appearance and adds value
• Resale Recessed lighting throughout — Enhances ambiance and adds value
• Resale Brand new radiators/heating — Modernizes heating system and adds value

Renovation cost estimate screening

Value-add ROI direction

• Resale Custom European granite countertops — Enhances aesthetic and value ↑
• Resale Smart toilet and hand-held Europlean shower — Modernizes bathroom and adds luxury ↑
• Resale Brand new hardwood floors — Improves appearance and adds value ↑
• Resale Recessed lighting throughout — Enhances ambiance and adds value ↑
• Resale Brand new radiators/heating — Modernizes heating system and adds 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): 83,187
• Household income: $97,479
• Rent vs Own: 31.7% rent · 68.3% own
• Severe rent burden: 2384.0

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 0.69)
• Race & ethnicity: Black 42% White 35% Hispanic / Latino 10% Asian 8% Two or more races 7%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4%
• Common ancestry: Hispanic 8% Scotch-Irish 3% Romanian 2%
• Foreign-born: 35% · Canada, China, Mexico
• Languages at home: 65% English-only · French/Haitian/Cajun 9% Spanish 7% Russian/Polish/Slavic 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: ▼ -667.47%
• Current HPI: 318.0416
• Rent YoY: ▲ 16.21%
• 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

1 event — show timeline

• 2026-05-15 Listed $325,000 BNYMLS