3901 Nostrand Ave Unit LL4 · New York, NY 11235

$320,000

3 bd · 1.0 ba · 900 sqft · Condo · 52 Days on market

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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).

• Cash flow +11.5/30.0
• ARV discount +7.5/15.0
• 1% rule +6.0/10.0
• Schools +5.0/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• DSCR +3.4/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

* Cash Buyer Only * Introducing a unique opportunity in the heart of Sheepshead Bay—a spacious 6-room, 3-bedroom apartment with 2 half bathrooms, offering incredible versatility for residential living or professional use, such as a doctor’s office. This well-maintained unit is located in a full-service building with excellent amenities including a seasonal outdoor pool, package delivery room, laundry facilities, and storage rooms. The flexible layout provides generous room sizes, making it ideal for comfortable living or efficient office space. Conveniently located near shops, restaurants, and public transportation, this property offers both lifestyle and professional potential

Key facts

• Listed 51 days

Property features AI

Finance

• Other: Building contains 233 units; Flip tax applies
• Financial info: Cash financing noted
• HOA & community: Monthly maintenance/common fee of $1,039; Managed by Aras Properties; Pets are not allowed; Handicap access available; Co-op shares: 470

Exterior

• Security: Secure lobby
• Utilities: Heat available; Public sewer; Public water; Other utilities
• Home design: Residential property; First-floor unit
• Exterior features: Secure lobby; On-site storage rooms

Interior

• Kitchen: Refrigerator included
• Bedrooms: Three bedrooms on the first floor
• Bathrooms: Two half bathrooms on the first floor
• Heating & cooling: One air conditioning unit
• Interior features: Refrigerator; One AC unit

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath condo listed at $320k.

Deal economics

• At list price, monthly cash flow is $-175 ($-2k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $320k).
• Recommended offer: $310k (3.0% below list) — sets the bar for market timing.
• Cap rate 5.9% 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 (+5.0%/yr); 524 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $3,519/mo this rent would consume 71% of the median local household income ($60k/yr) (locally 7823% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($310k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; major wind risk, 77% 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 $310,400 (3.0% 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 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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: 1.10% ✓
• Cap rate: 5.89%
• Cash-on-cash: -1.45%
• DSCR: 0.94
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.04% rent growth · sell at horizon

5-year hold

• IRR: -16.9%
• Equity multiple: 0.39×
• Total profit: $-55,092
• Equity at exit: $47,713

10-year hold

• IRR: -4.3%
• Equity multiple: 0.68×
• Total profit: $-28,685
• Equity at exit: $27,668

Cash invested: $89,600 (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 11235

• Rents YoY: 5.0%
• Active inventory: 524
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $3,519 medium
• Mortgage (P&I): −$1,678
• Tax est. 1.5%: −$400 /mo · $4,800/yr
• Insurance: −$133
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA est. from 1 same-building comp: −$677
• Vacancy / Maint / Mgmt: −$739
• Net cashflow: $-175

Break-even live

Break-even rent $3,740

Max offer price $294,738

Occupancy floor 100%

Sensitivity live

Price	-10% $47	-5% $-64	+0% $-175	+5% $-285	+10% $-396
Rent	-10% $-453	-5% $-314	+0% $-175	+5% $-36	+10% $103
Rate	-1.0pp $-13	-0.5pp $-93	base $-175	+0.5pp $-258	+1.0pp $-342

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: $80,000
• Closing costs: $9,600
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3000 Emmons Ave Unit 5 Brooklyn, NY	2.0	2.0	840	$4,085	$4.86	25d	1	0.39mi

HOA detail condo

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

Listing history 15 events

1. 2026-06-21
   days on market $320,000 Active 52 DOM
2. 2026-06-18
   days on market $320,000 Active 49 DOM
3. 2026-06-17
   days on market $320,000 Active 48 DOM
4. 2026-06-16
   days on market $320,000 Active 47 DOM
5. 2026-06-15
   days on market $320,000 Active 46 DOM
6. 2026-06-13
   days on market $320,000 Active 44 DOM
7. 2026-06-10
   days on market $320,000 Active 40 DOM
8. 2026-06-08
   days on market $320,000 Active 39 DOM
9. 2026-06-08
   days on market $320,000 Active 38 DOM
10. 2026-06-04
    days on market $320,000 Active 35 DOM
11. 2026-06-03
    days on market $320,000 Active 34 DOM
12. 2026-06-01
    days on market $320,000 Active 32 DOM
13. 2026-05-31
    days on market $320,000 Active 31 DOM
14. 2026-04-30
    listed $320,000 Active
15. 2024-09-16
    price $319,900

ⓘ 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 7/10 Severe FEMA zone X (unshaded) · 76% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 77% 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: $42,233
• − Mortgage interest: −$17,925
• − Property taxes: −$4,800
• − Insurance: −$2,398
• − Repairs & maintenance: −$3,379
• − Management: −$3,379
• − HOA: −$8,124
• − Depreciation: −$9,309
• Taxable loss: −$7,080
• Est. tax savings @ 24.0%: +$1,699
• After-tax cash flow: $-396/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): 78,558
• Household income: $59,661
• Rent vs Own: 65.2% rent · 34.8% own
• Severe rent burden: 7823.0

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 (67%)
• Race & ethnicity: White 67% Asian 15% Two or more races 9% Hispanic / Latino 9% Black 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3%
• Common ancestry: Scotch-Irish 15% Subsaharan African 12% Romanian 2%
• Foreign-born: 63% · China, Canada, Vietnam
• Languages at home: 24% English-only · Russian/Polish/Slavic 48% Chinese 7% Spanish 7%

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: ▼ -181.73%
• Current HPI: 303.6714
• Rent YoY: ▲ 5.04%
• 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

• 2026-04-30 Listed $320,000 BNYMLS
• 2024-09-16 Price Changed $319,900 BNYMLS