392 South 5th St #17 · New York, NY 11211

$450,000

2 bd · 1.0 ba · 550 sqft · Condo · 160 Days on market

Built 1920 $607/mo HOA

---

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 +17.6/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• DSCR +5.5/10.0
• Schools +5.0/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Listing remarks

Bright and well-maintained co-op apartment featuring a simple and functional layout. The unit offers good natural light, hardwood floors, and a comfortable living area. The kitchen and bathroom are clean and practical, with adequate storage throughout. A straightforward, well-kept home ideal for easy living in a convenient Williamsburg location.

Key facts

• Natural light
• Co-op apartment
• Functional layout

Tags

• CO-OP APARTMENT
• FUNCTIONAL LAYOUT
• NATURAL LIGHT
• HARDWOOD FLOORS
• COMFORTABLE LIVING AREA
• CLEAN KITCHEN

Property features AI

Finance

• HOA & community: Has association (392 SOUTH 5 STREET); Monthly association fee of $607; Association fee covers exterior maintenance, heat, hot water, sewer, snow removal and water

Exterior

• Parking: No covered parking; No designated parking features
• Utilities: Public sewer; Electricity available; Sewer available; Water available
• Home design: Stock cooperative; Entry level on 3; 5 stories total
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Kitchen: Freezer; Gas range; Other kitchen appliances
• Bedrooms: 5 total rooms (entry level: 3)
• Bathrooms: 1 full bathroom
• Heating & cooling: Oil heating; No cooling system
• Interior features: Formal dining area; No central air conditioning; Oil heating

🏢 Co-op / cooperative unit. The $450,000 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 2-bed/1.0-bath condo listed at $450k.

Deal economics

• At list price, monthly cash flow is $354 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $450k).
• Recommended offer: $396k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.2% 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 (+6.1%/yr); 135 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $5,154/mo this rent would consume 58% of the median local household income ($108k/yr) (locally 5879% 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 $48k of equity ($3k loan paydown + $45k appreciation (10.0% local appreciation)).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 6.1% rent growth), your $126k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$77k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 160 days — a 12% lower offer ($396k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; 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 $396,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 160 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
10. 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.
11. 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: 1.15% ✓
• Cap rate: 7.24%
• Cash-on-cash: 3.38%
• DSCR: 1.15
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 6.06% rent growth · sell at horizon

5-year hold

• IRR: 28.1%
• Equity multiple: 3.26×
• Total profit: $284,461
• Equity at exit: $405,396

10-year hold

• IRR: 25.6%
• Equity multiple: 7.81×
• Total profit: $858,377
• Equity at exit: $874,251

Cash invested: $126,000 (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 11211

• Home prices YoY: 2.6%
• Rents YoY: 6.1%
• Active inventory: 135
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $5,154 high
• Mortgage (P&I): −$2,360
• Tax est. 1.5%: −$562 /mo · $6,750/yr
• Insurance: −$188
• HOA: −$607
• Vacancy / Maint / Mgmt: −$1,082
• Net cashflow: $354

Break-even live

Break-even rent $4,705

Max offer price $450,000

Occupancy floor 88%

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: $112,500
• Closing costs: $13,500
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
250 Union Ave #2119 Brooklyn, NY	1.0–2.0	1.0	590	$4,900	$8.31	25d	2	0.15mi
275 S 5th St #1698 Brooklyn, NY	1.0	1.0	450	$4,860	$10.80	25d	2	0.30mi
11 Wharf Way Brooklyn, NY	1.0	1.0	610	$4,870	$7.98	2d	2	0.83mi
482 Kent Ave Brooklyn, NY	2.0	1.0–2.0	750	$8,290	$11.05	3d	3	0.84mi
478 Kent Ave Brooklyn, NY	2.0	1.0–2.0	775	$7,530	$9.72	3d	3	0.84mi
187 Kent Ave #1730 Brooklyn, NY	1.0	1.0	500	$5,750	$11.50	6d	1	0.95mi
285 Kingsland Ave #2078 Brooklyn, NY	1.0–2.0	1.0–2.0	725	$6,380	$8.80	25d	2	1.46mi

HOA detail condo

• Monthly dues: $607 · $7,284/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-18
   days on market $450,000 Active 160 DOM
2. 2026-06-17
   days on market $450,000 Active 159 DOM
3. 2026-06-15
   days on market $450,000 Active 157 DOM
4. 2026-06-13
   days on market $450,000 Active 155 DOM
5. 2026-06-10
   days on market $450,000 Active 151 DOM
6. 2026-06-08
   days on market $450,000 Active 150 DOM
7. 2026-06-04
   days on market $450,000 Active 146 DOM
8. 2026-06-03
   days on market $450,000 Active 145 DOM
9. 2026-06-01
   days on market $450,000 Active 143 DOM
10. 2026-05-31
    days on market $450,000 Active 142 DOM
11. 2026-01-05
    listed $450,000 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 5/10 Major FEMA zone X (unshaded) · 24% 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: $61,843
• − Mortgage interest: −$25,207
• − Property taxes: −$6,750
• − Insurance: −$2,250
• − Repairs & maintenance: −$4,947
• − Management: −$4,947
• − HOA: −$7,284
• − Depreciation: −$13,091
• Taxable loss: −$2,634
• Est. tax savings @ 24.0%: +$632
• After-tax cash flow: $4,886/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): 65,314
• Household income: $107,506
• Rent vs Own: 82.8% rent · 17.2% own
• Severe rent burden: 5879.0

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 0.58)
• Race & ethnicity: White 59% Hispanic / Latino 26% Two or more races 9% Asian 7% Black 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 10% Dominican 6%
• Common ancestry: Italian 4% Romanian 3% Lithuanian 2%
• Foreign-born: 23% · Canada, China, Jamaica
• Languages at home: 50% English-only · Spanish 21% German/W. Germanic 17% 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: ▲ 14.72%
• Current HPI: 588.2538
• Rent YoY: ▲ 6.06%
• 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

• 2026-01-05 Listed $450,000 OneKey® MLS as Distributed by MLS Grid