44 Box St Unit 2R · New York, NY 11222

$795,000

1 bd · 1.0 ba · 596 sqft · Condo · 130 Days on market

Built 2017 $230/mo HOA · 4% of rent

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Why this score? — see what drove the D- 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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +5.7/30.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• 1% rule +1.5/10.0
• DSCR +0.1/10.0

Listing remarks

Welcome to 44 Box Street, Unit 2C a thoughtfully designed 1-bedroom, 1-bathroom condominium located in the heart of Greenpoint, Brooklyn. This approximately 596 square foot residence offers a refined balance of modern design, functionality, and comfort within one of the neighborhood’s newest boutique condominium buildings. Bathed in natural light, the home features floor-to-ceiling and oversized double-paned Pella windows with northern exposure, highlighting the wide-plank white oak hardwood floors throughout. The open-concept living and dining area flows seamlessly into a contemporary chef’s kitchen appointed with premium countertops, a Fisher & Paykel appliance package,

Key facts

• Common roof deck
• Private balcony
• Walk-in closet

Tags

• PRIVATE BALCONY
• WALK-IN CLOSET
• COMMON ROOF DECK
• VIDEO INTERCOM SYSTEM
• LANDSCAPED ENTRANCE
• ARTISAN-CRAFTED BUILDING

Property features AI

Finance

• Other: 16 total units in the building; Pets not allowed in building
• HOA & community: Monthly association fee of $230

Exterior

• Utilities: Has heating and cooling (electric heating)
• Home design: Entry on level 2; Has view; 6-story building
• Construction: Building has elevator(s)
• Exterior features: Balcony; Building roof deck; Private outdoor space (over 60 sqft); North exposure

Interior

• Kitchen: Dishwasher
• Bedrooms: Total of 3 rooms
• Flooring: Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Has cooling
• Interior features: High ceilings; Recessed lighting; Walk-in closet(s); Double pane windows; Unfurnished
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $795k.

Deal economics

• At list price, monthly cash flow is $-2k ($-20k/yr) — negative.
• To cash-flow at today's rent, offer at most $559k (29.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $518k (34.9% below list).
• Recommended offer: $518k (34.9% below list) — sets the bar for 1% rule.
• Cap rate 3.8% 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 (+1.0%/yr); 105 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $5,178/mo this rent would consume 49% of the median local household income ($126k/yr) (locally 3139% 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 $85k of equity ($5k loan paydown + $80k appreciation (10.0% local appreciation)).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$137k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 130 days — a 12% lower offer ($700k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% 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 $517,775 (34.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 130 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.65% ✗
• Cap rate: 3.83%
• Cash-on-cash: -8.81%
• DSCR: 0.61
• GRM: 12.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 1.02% rent growth · sell at horizon

5-year hold

• IRR: 17.6%
• Equity multiple: 2.43×
• Total profit: $319,034
• Equity at exit: $716,199

10-year hold

• IRR: 16.2%
• Equity multiple: 5.51×
• Total profit: $1,002,850
• Equity at exit: $1,544,510

Cash invested: $222,600 (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 11222

• Home prices YoY: 2.9%
• Rents YoY: 1.0%
• Active inventory: 105
• Price-to-rent: 12.8×

Monthly cashflow live

• Estimated rent: $5,178 high
• Mortgage (P&I): −$4,169
• Tax est. 1.5%: −$994 /mo · $11,925/yr
• Insurance: −$331
• HOA: −$230
• Vacancy / Maint / Mgmt: −$1,087
• Net cashflow: $-1,634

Break-even live

Break-even rent $7,246

Max offer price $558,609

Occupancy floor —

Sensitivity live

Price	-10% $-1,084	-5% $-1,359	+0% $-1,634	+5% $-1,908	+10% $-2,183
Rent	-10% $-2,043	-5% $-1,838	+0% $-1,634	+5% $-1,429	+10% $-1,225
Rate	-1.0pp $-1,233	-0.5pp $-1,431	base $-1,634	+0.5pp $-1,840	+1.0pp $-2,049

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: $198,750
• Closing costs: $23,850
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1 Bell Slip Brooklyn, NY	2.0	1.0–2.0	766	$5,368	$7.00	0d	7	0.19mi
1 Blue Slip Brooklyn, NY	2.0	1.0–2.0	834	$5,520	$6.61	0d	12	0.22mi
2 Blue Slip Brooklyn, NY	2.0	1.0–2.0	819	$5,848	$7.14	0d	6	0.25mi
475 48th Ave Long Island City, NY	3.0	1.0–3.0	1293	$5,410	$4.18	0d	1	0.57mi
30 Waterside Plz New York, NY	2.0	1.0–2.0	743	$5,244	$7.06	0d	35	0.94mi
20 Waterside Plz #978 New York, NY	1.0	1.0	682	$4,760	$6.98	7d	1	0.94mi
2719 44th Dr Long Island City, NY	1.0	1.0	628	$4,945	$7.87	8d	2	0.97mi
285 Kingsland Ave #2078 Brooklyn, NY	1.0–2.0	1.0–2.0	725	$4,240	$5.85	25d	2	1.00mi
401 E 34th St New York, NY	3.0	1.0–2.0	887	$5,532	$6.23	0d	50	1.03mi
399 E 34th St Unit 1025362P New York, NY	1.0	1.0	570	$9,174	$16.09	23d	1	1.07mi
330 E 46th St #1794 New York, NY	1.0	1.0	489	$4,990	$10.19	25d	2	1.25mi
222 E 34th St #999 New York, NY	1.0	1.0	554	$5,490	$9.91	7d	1	1.28mi
300 E 46th St New York, NY	2.0–3.0	1.0	716	$4,300	$6.00	25d	2	1.31mi
230 E 44th St #2165 New York, NY	1.0–2.0	1.0	568	$3,150	$5.54	25d	2	1.34mi
940 1st Ave Unit 2040 New York, NY	2.0	1.5	600	$6,810	$11.35	0d	1	1.34mi
301 E 47th St #1737 New York, NY	2.0	1.0	600	$5,380	$8.97	21d	1	1.34mi
420 E 54th St New York, NY	3.0	1.0–2.5	1018	$7,261	$7.13	0d	12	1.36mi
556 3rd Ave Unit 2244 New York, NY	1.0	1.0	500	$5,640	$11.28	0d	1	1.37mi
556 3rd Ave New York, NY	1.0	1.0	540	$5,635	$10.44	3d	2	1.37mi
556 3rd Ave New York, NY	1.0	1.0	580	$5,240	$9.03	21d	2	1.37mi
340 E 51st St New York, NY	2.0	1.0–2.0	791	$6,250	$7.90	4d	3	1.38mi
599 E 56th St Unit 1817 New York, NY	1.0	1.0	625	$4,850	$7.76	25d	1	1.39mi
340 E 52nd St #1527 New York, NY	1.0	1.0	575	$7,890	$13.72	0d	2	1.39mi
959 1st Ave Unit 6X New York, NY	1.0	1.0	739	$6,000	$8.12	25d	1	1.39mi
155 E 31st St #2190 New York, NY	1.0–2.0	1.0–1.5	725	$5,610	$7.74	8d	2	1.40mi
187 Kent Ave #1730 Brooklyn, NY	1.0	1.0	500	$5,750	$11.50	7d	1	1.40mi
346 E 18th St Unit 1254596P New York, NY	2.0	2.0	699	$12,979	$18.57	23d	1	1.40mi
333 E 52nd St Unit 2177 New York, NY	2.0	1.0	600	$4,900	$8.17	23d	1	1.42mi
250 E 21st St Unit 8D New York, NY	1.0	1.0	688	$9,525	$13.84	3d	1	1.43mi
300 E 51st St New York, NY	2.0	1.0–2.0	875	$6,365	$7.27	4d	3	1.43mi
138 E 38th St New York, NY	3.0	1.0–2.0	750	$4,510	$6.01	25d	4	1.44mi
141 E 33rd St #1278 New York, NY	2.0	1.0–1.5	683	$6,230	$9.12	8d	3	1.44mi
220 E 49th St Unit 1021974P New York, NY	2.0	1.0	742	$5,190	$6.99	16d	1	1.46mi

HOA detail condo

• Monthly dues: $230 · $2,760/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-06-08
   days on market $795,000 Active 130 DOM
2. 2026-06-04
   days on market $795,000 Active 126 DOM
3. 2026-06-03
   days on market $795,000 Active 125 DOM
4. 2026-06-01
   days on market $795,000 Active 123 DOM
5. 2026-05-31
   days on market $795,000 Active 122 DOM
6. 2026-01-15
   listed $795,000 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 3/10 Moderate FEMA zone X (unshaded) · 12% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $62,133
• − Mortgage interest: −$44,532
• − Property taxes: −$11,925
• − Insurance: −$3,975
• − Repairs & maintenance: −$4,971
• − Management: −$4,971
• − HOA: −$2,760
• − Depreciation: −$23,127
• Taxable loss: −$34,128
• Est. tax savings @ 24.0%: +$8,191
• After-tax cash flow: $-11,413/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): 42,853
• Household income: $125,734
• Rent vs Own: 81.9% rent · 18.1% own
• Severe rent burden: 3139.0

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 (68%)
• Race & ethnicity: White 68% Hispanic / Latino 15% Two or more races 13% Asian 6% Black 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Dominican 2%
• Common ancestry: Romanian 15% Slovak 3% Lithuanian 3%
• Foreign-born: 26% · Canada, China, South Korea
• Languages at home: 68% English-only · Russian/Polish/Slavic 12% Spanish 10% Other Indo-European 3%

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: ▲ 22.48%
• Current HPI: 787.4068
• Rent YoY: ▲ 1.02%
• 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

• 2026-01-15 Listed $795,000 RLS at REBNY