2265 Gerritsen Ave Unit 5C · New York, NY 11229

$195,000

1 bd · 1.0 ba · 750 sqft · Condo · 34 Days on market

Built 1962

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

MARINE PARK/ SHEEPSHEAD BAY large one bedroom one bath co-op on 5th floor with. Eat in Kitchen, separate spacious, living room and king-size bedroom. Hardwood Floors, 2 wall a/c units. Lots of closets throughout, renovated bath, Close to shopping, public transportation, and Marine Park.

Key facts

• King-size bedroom
• Eat in kitchen
• Renovated bath

Tags

• EAT IN KITCHEN
• SEPARATE SPACIOUS LIVING ROOM
• KING-SIZE BEDROOM
• HARDWOOD FLOORS
• RENOVATED BATH

Property features AI

Finance

• HOA & community: Gerritsen Owners Corp association; Additional monthly fee of $365.37 through August 2027

Exterior

• Parking: On-street parking; Other parking
• Utilities: Public sewer; Cable connected; Electricity connected; Natural gas connected; Phone available
• Home design: Stock cooperative
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Dishwasher; Gas range; Microwave; Refrigerator
• Bedrooms: 3 rooms total (includes sleeping areas)
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Wall/window air conditioning units
• Interior features: Eat-in kitchen; Elevator; Entrance foyer; Granite counters; Primary bathroom; Walk-through kitchen; 6-story building; unit on 5th level; Cats and dogs allowed

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $195k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $195k).
• Recommended offer: $189k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.0% 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 fast (+15.8%/yr); 355 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $3,093/mo this rent would consume 53% of the median local household income ($71k/yr) (locally 4771% 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 $1k of loan paydown is wiped out by about $6k 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 $55k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• 9 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 flood risk; major wind risk, 72% 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 $189,150 (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 1962 — 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: 1.59% ✓
• Cap rate: 13.04%
• Cash-on-cash: 24.09%
• DSCR: 2.07
• GRM: 5.3

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: 22.9%
• Equity multiple: 2.00×
• Total profit: $54,598
• Equity at exit: $29,075

10-year hold

• IRR: 33.9%
• Equity multiple: 4.88×
• Total profit: $212,016
• Equity at exit: $16,860

Cash invested: $54,600 (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 11229

• Rents YoY: 15.8%
• Active inventory: 355
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $3,093 medium
• Mortgage (P&I): −$1,023
• Tax est. 1.5%: −$244 /mo · $2,925/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$650
• Net cashflow: $1,096

Break-even live

Break-even rent $1,706

Max offer price $195,000

Occupancy floor 60%

Sensitivity live

Price	-10% $1,231	-5% $1,163	+0% $1,096	+5% $1,029	+10% $961
Rent	-10% $852	-5% $974	+0% $1,096	+5% $1,218	+10% $1,340
Rate	-1.0pp $1,194	-0.5pp $1,146	base $1,096	+0.5pp $1,045	+1.0pp $994

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3112 Emmons Ave Unit 203 Brooklyn, NY	1.0	1.0	734	$3,200	$4.36	25d	1	1.19mi
3000 Emmons Ave Unit 1 Brooklyn, NY	—	1.0	536	$3,273	$6.11	25d	1	1.24mi
3000 Emmons Ave Unit 5 Brooklyn, NY	2.0	2.0	840	$4,085	$4.86	25d	1	1.24mi

HOA detail condo

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

Listing history 40 events

1. 2026-06-18
   days on market $195,000 Active 34 DOM
2. 2026-06-17
   days on market $195,000 Active 33 DOM
3. 2026-06-16
   days on market $195,000 Active 32 DOM
4. 2026-06-15
   days on market $195,000 Active 31 DOM
5. 2026-06-13
   days on market $195,000 Active 29 DOM
6. 2026-06-10
   days on market $195,000 Active 25 DOM
7. 2026-06-08
   days on market $195,000 Active 24 DOM
8. 2026-06-08
   days on market $195,000 Active 23 DOM
9. 2026-06-04
   days on market $195,000 Active 20 DOM
10. 2026-06-03
    days on market $195,000 Active 19 DOM
11. 2026-06-02
    days on market $195,000 Active 18 DOM
12. 2026-06-01
    days on market $195,000 Active 17 DOM
13. 2026-05-31
    days on market $195,000 Active 16 DOM
14. 2026-05-15
    listed $195,000 Active
15. 2026-05-14
    listed $195,000 Active 288-char remark

    Show marketing remark (288 chars)

    MARINE PARK/ SHEEPSHEAD BAY large one bedroom one bath co-op on 5th floor with. Eat in Kitchen, separate spacious, living room and king-size bedroom. Hardwood Floors, 2 wall a/c units. Lots of closets throughout, renovated bath, Close to shopping, public transportation, and Marine Park.

16. 2026-05-12
    historical
17. 2025-12-12
    price $192,000
18. 2025-12-11
    price $192,000
19. 2025-12-11
    price $192,000
20. 2025-10-28
    price $195,000
21. 2025-10-28
    price $195,000
22. 2025-10-28
    price $195,000
23. 2025-10-11
    status Active
24. 2025-10-11
    status Active
25. 2025-09-26
    status Pending
26. 2025-09-26
    historical
27. 2025-09-25
    historical Contingent
28. 2025-07-24
    status Pending
29. 2025-06-06
    status Active
30. 2025-06-06
    historical
31. 2025-05-29
    price $198,000
32. 2025-05-28
    price $198,000
33. 2025-05-28
    price $198,000
34. 2025-05-15
    listed $205,000 Active
35. 2025-05-15
    listed $205,000 Active
36. 2024-08-02
    status Pending
37. 2024-05-24
    status Active
38. 2024-05-24
    status Pending
39. 2024-05-22
    historical
40. 2024-05-06
    listed $175,000 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 6/10 Major FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 72% 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: $37,118
• − Mortgage interest: −$10,923
• − Property taxes: −$2,925
• − Insurance: −$975
• − Repairs & maintenance: −$2,969
• − Management: −$2,969
• − Depreciation: −$5,673
• Taxable income: $10,683
• Est. tax owed @ 24.0%: −$2,564
• After-tax cash flow: $10,588/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): 78,377
• Household income: $70,603
• Rent vs Own: 53.1% rent · 46.9% own
• Severe rent burden: 4771.0

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 0.60)
• Race & ethnicity: White 59% Asian 22% Hispanic / Latino 9% Black 6% Two or more races 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Scotch-Irish 6% Subsaharan African 6% Romanian 1%
• Foreign-born: 47% · China, Canada, Vietnam
• Languages at home: 40% English-only · Russian/Polish/Slavic 22% Chinese 16% Spanish 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: ▼ -761.52%
• Current HPI: 361.7011
• Rent YoY: ▲ 15.81%
• 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

+11.4% since first listed

27 events — show timeline

• 2026-05-15 Listed $195,000 OneKey® MLS as Distributed by MLS Grid
• 2026-05-14 Listed $195,000 BNYMLS
• 2026-05-12 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-12-12 Price Changed $192,000 BNYMLS
• 2025-12-11 Price Changed $192,000 OneKey® MLS as Distributed by MLS Grid
• 2025-12-11 Price Changed $192,000 SIBORMLS
• 2025-10-28 Price Changed $195,000 BNYMLS
• 2025-10-28 Price Changed $195,000 OneKey® MLS as Distributed by MLS Grid
• 2025-10-28 Price Changed $195,000 SIBORMLS
• 2025-10-11 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-10-11 Relisted — SIBORMLS
• 2025-09-26 Pending — SIBORMLS
• 2025-09-26 Listing Removed — SIBORMLS
• 2025-09-25 Contingent — SIBORMLS
• 2025-07-24 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-06-06 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-06-06 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-05-29 Price Changed $198,000 BNYMLS
• 2025-05-28 Price Changed $198,000 OneKey® MLS as Distributed by MLS Grid
• 2025-05-28 Price Changed $198,000 SIBORMLS
• 2025-05-15 Listed $205,000 SIBORMLS
• 2025-05-15 Listed $205,000 OneKey® MLS as Distributed by MLS Grid
• 2024-08-02 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-05-24 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2024-05-24 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-05-22 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-05-06 Listed $175,000 OneKey® MLS as Distributed by MLS Grid