2209 Knapp St Unit 5G · New York, NY 11229

$179,888

2 bd · 1.0 ba · 950 sqft · Condo · 68 Days on market

Built 1953 Fair condition ↓ 20% since listing

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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 +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

NEEDS T. L. C. Bright and Spacious 2 bedroom 1 bath coop apartment in elevator building with laundry room, maintenance $1,426 mth includes all the utilities, parking available with waiting list, 20% down payment minimum, 1 cat OK, no dogs, super on premises, the building is close to supermarkets, schools, buses and Marine Park. Bathroom with a window, kitchen with a window, hardwood floors. Command Bus To Manhattan, and/or Bus to Train Minutes To Manhattan.

Key facts

• Secured lobby
• Close to buses
• Close to schools

Tags

• EAT-IN KITCHEN
• LAUNDRY ROOM
• SECURED LOBBY
• CLOSE TO BUSES
• CLOSE TO SCHOOLS
• CLOSE TO SHOPPING

Property features AI

Finance

• Other: Location: Brooklyn (near Ave V and Ave W)
• Financial info: Financing available: bank mortgage or cash; Down payment typically 20%; Flip tax applies
• HOA & community: Monthly maintenance fee includes air conditioning, dishwasher, parking, and storage; Maintenance/common fee listed; Managed by Advanced Management; Handicap access available; Pets restricted (cats only); Co-op shares applicable

Exterior

• Parking: Garage parking available; Street parking available; Wait-list for parking
• Security: Secure lobby; Intercom entry
• Utilities: Gas service; Heat included (steam/radiator); Water service; Sewer service; Hot water: other
• Home design: Detached residential building; Unit located on the 5th floor
• Construction: Part of a multi-unit building (162 total units)
• Exterior features: Secure lobby; Intercom door; Recreational room; Resident superintendent

Interior

• Kitchen: Eat-in kitchen; Stove; Refrigerator
• Bedrooms: 2 bedrooms on the first floor (including a master bedroom)
• Flooring: Hardwood floors; Tile floors
• Bathrooms: 1 full bathroom on the first floor
• Heating & cooling: Gas heating; Steam/radiator heat; 1 A/C unit
• Interior features: Central A/C unit; Elevator access; Laundry area in building; Refrigerator included; Stove included
• Laundry & utility: Building laundry (card-operated)

🏢 Co-op / cooperative unit. The $179,888 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 $180k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $180k).
• Recommended offer: $169k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.4% 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.
• Zoned schools: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% FRL); Jhs 383 Philippa Schuyler (math 32% / reading 67%, grade C, #280 of 729 statewide, top 40%, 822 students, 85% FRL); Midwood High School (math 94% / reading 96%, grade A+, #83 of 1,100 statewide, top 8%, 4,062 students, 73% FRL).
• Market conditions: Rents rising fast (+15.8%/yr); 359 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $3,109/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 $5k 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 $50k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($169k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate 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 $169,094 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.73% ✓
• Cap rate: 14.38%
• Cash-on-cash: 28.90%
• DSCR: 2.29
• GRM: 4.8

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: 28.8%
• Equity multiple: 2.28×
• Total profit: $64,584
• Equity at exit: $26,822

10-year hold

• IRR: 39.0%
• Equity multiple: 5.58×
• Total profit: $230,692
• Equity at exit: $15,553

Cash invested: $50,369 (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: 359
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $3,109 medium
• Mortgage (P&I): −$943
• Tax est. 1.5%: −$225 /mo · $2,698/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$653
• Net cashflow: $1,213

Break-even live

Break-even rent $1,574

Max offer price $179,888

Occupancy floor 56%

Sensitivity live

Price	-10% $1,337	-5% $1,275	+0% $1,213	+5% $1,151	+10% $1,089
Rent	-10% $967	-5% $1,090	+0% $1,213	+5% $1,336	+10% $1,459
Rate	-1.0pp $1,304	-0.5pp $1,259	base $1,213	+0.5pp $1,166	+1.0pp $1,119

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: $44,972
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 2 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	26d	1	1.12mi
3000 Emmons Ave Unit 5 Brooklyn, NY	2.0	2.0	840	$4,085	$4.86	26d	1	1.18mi

HOA detail condo

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

Listing history 16 events

1. 2026-06-21
   days on market $179,888 Active 68 DOM
2. 2026-06-18
   days on market $179,888 Active 65 DOM
3. 2026-06-17
   days on market $179,888 Active 64 DOM
4. 2026-06-15
   days on market $179,888 Active 62 DOM
5. 2026-06-13
   days on market $179,888 Active 60 DOM
6. 2026-06-10
   days on market $179,888 Active 56 DOM
7. 2026-06-08
   remarks 461-char remark
8. 2026-06-08
   pricedays on market $179,888 Active 55 DOM
9. 2026-06-08
   days on market $199,000 Active 54 DOM
10. 2026-06-04
    days on market $199,000 Active 51 DOM
11. 2026-06-03
    days on market $199,000 Active 50 DOM
12. 2026-06-01
    days on market $199,000 Active 48 DOM
13. 2026-05-31
    days on market $199,000 Active 47 DOM
14. 2026-05-21
    price $199,000
15. 2026-05-16
    price $225,000
16. 2026-04-14
    listed $250,000 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) · 14% 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: $37,309
• − Mortgage interest: −$10,077
• − Property taxes: −$2,698
• − Insurance: −$899
• − Repairs & maintenance: −$2,985
• − Management: −$2,985
• − Depreciation: −$5,233
• Taxable income: $12,432
• Est. tax owed @ 24.0%: −$2,984
• After-tax cash flow: $11,572/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This apartment building requires moderate renovations to improve its condition and increase its value. The exterior and interior walls show signs of wear, and the kitchen and bathrooms need updates. Paint touch-ups and flooring refinishing would significantly enhance the property's curb appeal and interior aesthetics.

Repairs flagged

• Minor Kitchen cabinets — Slight discoloration
• Minor Bathroom fixtures — Slight discoloration
• Minor Flooring — Slight wear

Value-add opportunities

• Both Paint touch-ups — Enhances curb appeal and interior aesthetics
• Both Floor refinishing — Improves appearance and durability
• Both Kitchen and bathroom updates — Modernizes spaces and increases appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Slight discoloration	Minor	$500–3,000
Bathroom fixtures · Slight discoloration	Minor	$500–3,000
Flooring · Slight wear	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both Paint touch-ups — Enhances curb appeal and interior aesthetics ↑
• Both Floor refinishing — Improves appearance and durability ↑
• Both Kitchen and bathroom updates — Modernizes spaces and increases appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-20.4% since first listed

3 events — show timeline

• 2026-05-21 Price Changed $199,000 BNYMLS
• 2026-05-16 Price Changed $225,000 BNYMLS
• 2026-04-14 Listed $250,000 BNYMLS