216 Calyer St Unit 3A · New York, NY 11222

$895,000

2 bd · 1.0 ba · 690 sqft · Condo public records · 86 Days on market

Built 2006 $707/mo HOA · 12% of rent

---

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 +6.0/30.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• 1% rule +1.8/10.0
• DSCR +0.3/10.0

Listing remarks

Ceiling height in loft is approximately 5'2" At the crossroads of Greenpoint's industrial past and its waterfront future. Step into this boutique six-story elevator condominium, ideally positioned in the heart of one of Brooklyn's most vibrant and sought-after neighborhoods. Unlike cookie-cutter residences, these sponsor units offer distinctive architectural character, thoughtful detailing, generous closet space, private outdoor areas, and in-unit washer/dryers. Residents enjoy a beautifully renovated lobby and a well-maintained roof deck with sweeping Manhattan and Brooklyn skyline views. This spacious and thoughtfully designed 1 bedroom with additional open loft space ideal for s

Key facts

• Soaring ceilings
• Renovated lobby
• $707 HOA

Tags

• GENEROUS CLOSET SPACE
• PRIVATE OUTDOOR AREAS
• IN-UNIT WASHER DRYERS
• RENOVATED LOBBY
• WELL-MAINTAINED ROOF DECK
• SOARING CEILINGS

Property features AI

Finance

• Other: Elevator in building; Building has 10 total units; Pets allowed (building rules apply)
• HOA & community: Monthly association fee of $707

Exterior

• Home design: Condominium/Co-op style unit in a 5-story building; Entry on 3rd level; R7A zoning
• Exterior features: Balcony; Private outdoor space (under 60 sqft); West exposure

Interior

• Bedrooms: 3rd floor entry
• Bathrooms: 1 full bathroom
• Heating & cooling: Has cooling
• Interior features: High ceilings; View
• Laundry & utility: Washer hookup; In-unit laundry; Building laundry options

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $895k.

Deal economics

• At list price, monthly cash flow is $-2k ($-21k/yr) — negative.
• To cash-flow at today's rent, offer at most $591k (34.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $610k (31.9% below list).
• Recommended offer: $591k (34.0% below list) — sets the bar for cash-flow.
• Cap rate 4.0% 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; 11 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 $6,096/mo this rent would consume 58% 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 $96k of equity ($6k loan paydown + $90k 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 ~$154k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($841k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago 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

• 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 $590,776 (34.0% 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 86 days. Have you received any prior offers? Is the seller open to a 34% 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: 0.68% ✗
• Cap rate: 3.98%
• Cash-on-cash: -8.25%
• DSCR: 0.63
• GRM: 12.2

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: 18.0%
• Equity multiple: 2.46×
• Total profit: $366,155
• Equity at exit: $806,287

10-year hold

• IRR: 16.5%
• Equity multiple: 5.56×
• Total profit: $1,142,871
• Equity at exit: $1,738,788

Cash invested: $250,600 (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: 12.2×

Monthly cashflow live

• Estimated rent: $6,096 high
• Mortgage (P&I): −$4,693
• Tax from tax record: −$765 /mo · $9,175/yr
• Insurance: −$373
• HOA: −$707
• Vacancy / Maint / Mgmt: −$1,280
• Net cashflow: $-1,722

Break-even live

Break-even rent $8,276

Max offer price $590,776

Occupancy floor —

Sensitivity live

Price	-10% $-1,216	-5% $-1,469	+0% $-1,722	+5% $-1,975	+10% $-2,229
Rent	-10% $-2,204	-5% $-1,963	+0% $-1,722	+5% $-1,481	+10% $-1,241
Rate	-1.0pp $-1,271	-0.5pp $-1,495	base $-1,722	+0.5pp $-1,954	+1.0pp $-2,190

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: $223,750
• Closing costs: $26,850
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
285 Kingsland Ave #2078 Brooklyn, NY	1.0–2.0	1.0–2.0	725	$6,380	$8.80	25d	2	0.50mi
1 Blue Slip Brooklyn, NY	2.0	1.0–2.0	834	$7,525	$9.02	0d	12	0.68mi
2 Blue Slip Brooklyn, NY	2.0	1.0–2.0	819	$7,974	$9.74	0d	6	0.69mi
1 Bell Slip Brooklyn, NY	2.0	1.0–2.0	766	$7,492	$9.77	0d	7	0.70mi
187 Kent Ave #1730 Brooklyn, NY	1.0	1.0	500	$5,750	$11.50	7d	1	1.03mi
475 48th Ave Long Island City, NY	3.0	1.0–3.0	1293	$7,176	$5.55	0d	1	1.15mi
20 Waterside Plz #978 New York, NY	1.0	1.0	682	$4,760	$6.98	7d	1	1.27mi
30 Waterside Plz New York, NY	2.0	1.0–2.0	743	$6,598	$8.88	0d	35	1.30mi
2719 44th Dr Long Island City, NY	1.0	1.0	628	$4,945	$7.87	8d	2	1.32mi
275 S 5th St #1698 Brooklyn, NY	1.0	1.0	450	$4,860	$10.80	25d	2	1.41mi
250 Union Ave #2119 Brooklyn, NY	1.0–2.0	1.0	590	$4,900	$8.31	25d	2	1.46mi

HOA detail condo

• Monthly dues: $707 · $8,484/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-21
   days on market $895,000 Active 86 DOM
2. 2026-06-18
   price $895,000 Active 83 DOM
3. 2026-06-18
   days on market $900,000 Active 83 DOM
4. 2026-06-17
   days on market $900,000 Active 82 DOM
5. 2026-06-15
   days on market $900,000 Active 80 DOM
6. 2026-06-13
   days on market $900,000 Active 78 DOM
7. 2026-06-10
   days on market $900,000 Active 74 DOM
8. 2026-06-08
   days on market $900,000 Active 73 DOM
9. 2026-06-08
   days on market $900,000 Active 72 DOM
10. 2026-06-04
    days on market $900,000 Active 69 DOM
11. 2026-06-03
    days on market $900,000 Active 68 DOM
12. 2026-06-02
    price $900,000 Active 66 DOM
13. 2026-06-01
    days on market $925,000 Active 66 DOM
14. 2026-05-31
    days on market $925,000 Active 65 DOM
15. 2026-03-27
    listed $925,000 Active
16. 2024-11-19
    historical $4,200
17. 2024-11-04
    price $4,200
18. 2024-10-22
    listed $4,400

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $9,175 · $765/mo
• Projected year-2 tax: $12,150 · $1,013/mo
• Expected delta: +$2,975/yr (+$248/mo · 32.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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 ≥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: $73,152
• − Mortgage interest: −$50,134
• − Property taxes: −$9,175
• − Insurance: −$4,475
• − Repairs & maintenance: −$5,852
• − Management: −$5,852
• − HOA: −$8,484
• − Depreciation: −$26,036
• Taxable loss: −$36,857
• Est. tax savings @ 24.0%: +$8,846
• After-tax cash flow: $-11,820/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

+20922.7% since first listed

4 events — show timeline

• 2026-03-27 Listed $925,000 RLS at REBNY
• 2024-11-19 Rental Removed $4,200 REBNY
• 2024-11-04 Price Changed $4,200 REBNY
• 2024-10-22 Listed for Rent $4,400 REBNY

Property tax history

+28.5%/yr

Latest (2025): $9,175 · -1.0% YoY. Source: county tax records.