2375 Ocean Ave Unit 1J · New York, NY 11229

$269,000

1 bd · 1.0 ba · 800 sqft · Condo · 6 Days on market

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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 +16.8/30.0
• ARV discount +7.5/15.0
• DSCR +5.2/10.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• 1% rule +4.6/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

One-Bedroom coop apartment located on the first floor, approximately 800 sq ft with all separate rooms, large dinette area off the kitchen, windows in the kitchen, and bathroom. Beautiful parqueted floors thru all, a lot of closet space, a low monthly charge of $576 includes hot/cold water, heat, property tax, and the building insurance and maintenance. A sublet is allowed after 2 years. Located in the heart of Madison Ocean Avenue and Avenue S.

Key facts

• Windows in bathroom
• Parquet flooring
• Windows in kitchen

Tags

• FIRST FLOOR
• FUNCTIONAL LAYOUT
• SPACIOUS DINETTE AREA
• WINDOWS IN KITCHEN
• WINDOWS IN BATHROOM
• PARQUET FLOORING

Property features AI

Finance

• Other: Building has 67 units
• Financial info: Flip tax: 1%; Assessment fee: $200; Financing: Bank mortgage, cash, or exchange considered; Sub-lease allowed
• HOA & community: Monthly maintenance fee of $820 (includes assessment); Management by Tenere Management Group LP; Manager phone: [phone]; Pets allowed (restrictions: see agent); Co-op shares: 295

Exterior

• Security: Secure lobby
• Utilities: Gas; Heat; Sewer; Septic; Water; Sprinkler system
• Home design: Residential property; First-floor unit
• Exterior features: Bike room; Resident superintendent; Secure lobby; Located on floor 1

Interior

• Kitchen: Stove; Refrigerator; Dishwasher
• Bedrooms: 1 bedroom on the first floor
• Bathrooms: 1 full bathroom on the first floor
• Heating & cooling: Heat (building served)
• Interior features: Window A/C units (2); Elevator access; Secure lobby
• Laundry & utility: Card-operated laundry in building

🏢 Co-op / cooperative unit. The $269,000 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 1-bed/1.0-bath condo listed at $269k.

Deal economics

• At list price, monthly cash flow is $173 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $257k (4.4% below list).
• Recommended offer: $257k (4.4% below list) — sets the bar for 1% rule.
• Cap rate 7.1% 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; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• This rent runs 44% of the median local income ($71k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 $75k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 22y ago; this cycle's ask has dropped $19k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• 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 $257,205 (4.4% below list)

Questions for the listing agent

1. 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?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.96% ✗
• Cap rate: 7.06%
• Cash-on-cash: 2.75%
• DSCR: 1.12
• GRM: 8.7

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: -6.5%
• Equity multiple: 0.75×
• Total profit: $-18,945
• Equity at exit: $40,109

10-year hold

• IRR: 8.5%
• Equity multiple: 1.79×
• Total profit: $59,708
• Equity at exit: $23,258

Cash invested: $75,320 (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: 8.7×

Monthly cashflow live

• Estimated rent: $2,572 medium
• Mortgage (P&I): −$1,411
• Tax est. 1.5%: −$336 /mo · $4,035/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$540
• Net cashflow: $173

Break-even live

Break-even rent $2,353

Max offer price $269,000

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: $67,250
• Closing costs: $8,070
• Reserves months: —
• Total cash needed: —

HOA detail condo

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

Listing history 31 events

1. 2026-06-18
   days on market $269,000 Active 6 DOM
2. 2026-06-17
   days on market $269,000 Active 5 DOM
3. 2026-06-16
   days on market $269,000 Active 4 DOM
4. 2026-06-15
   days on market $269,000 Active 3 DOM
5. 2026-06-13
   pricedays on marketlisting id $269,000 Active 1 DOM
6. 2026-06-04
   days on market $275,000 Active 72 DOM
7. 2026-06-03
   days on market $275,000 Active 71 DOM
8. 2026-06-01
   days on market $275,000 Active 69 DOM
9. 2026-05-31
   days on market $275,000 Active 68 DOM
10. 2026-05-08
    price $275,000
11. 2026-03-24
    listed $288,000 Active
12. 2022-06-01
    soldstatus $258,000 Sold 449-char remark

    Show marketing remark (449 chars)

    One-Bedroom coop apartment located on the first floor, approximately 800 sq ft with all separate rooms, large dinette area off the kitchen, windows in the kitchen, and bathroom. Beautiful parqueted floors thru all, a lot of closet space, a low monthly charge of $576 includes hot/cold water, heat, property tax, and the building insurance and maintenance. A sublet is allowed after 2 years. Located in the heart of Madison Ocean Avenue and Avenue S.

13. 2022-04-01
    status Pending 449-char remark

    Show marketing remark (449 chars)

    One-Bedroom coop apartment located on the first floor, approximately 800 sq ft with all separate rooms, large dinette area off the kitchen, windows in the kitchen, and bathroom. Beautiful parqueted floors thru all, a lot of closet space, a low monthly charge of $576 includes hot/cold water, heat, property tax, and the building insurance and maintenance. A sublet is allowed after 2 years. Located in the heart of Madison Ocean Avenue and Avenue S.

14. 2022-02-14
    price $267,900 449-char remark

    Show marketing remark (449 chars)

    One-Bedroom coop apartment located on the first floor, approximately 800 sq ft with all separate rooms, large dinette area off the kitchen, windows in the kitchen, and bathroom. Beautiful parqueted floors thru all, a lot of closet space, a low monthly charge of $576 includes hot/cold water, heat, property tax, and the building insurance and maintenance. A sublet is allowed after 2 years. Located in the heart of Madison Ocean Avenue and Avenue S.

15. 2022-02-06
    price $268,500 449-char remark

    Show marketing remark (449 chars)

    One-Bedroom coop apartment located on the first floor, approximately 800 sq ft with all separate rooms, large dinette area off the kitchen, windows in the kitchen, and bathroom. Beautiful parqueted floors thru all, a lot of closet space, a low monthly charge of $576 includes hot/cold water, heat, property tax, and the building insurance and maintenance. A sublet is allowed after 2 years. Located in the heart of Madison Ocean Avenue and Avenue S.

16. 2021-12-09
    price $269,000 449-char remark

    Show marketing remark (449 chars)

    One-Bedroom coop apartment located on the first floor, approximately 800 sq ft with all separate rooms, large dinette area off the kitchen, windows in the kitchen, and bathroom. Beautiful parqueted floors thru all, a lot of closet space, a low monthly charge of $576 includes hot/cold water, heat, property tax, and the building insurance and maintenance. A sublet is allowed after 2 years. Located in the heart of Madison Ocean Avenue and Avenue S.

17. 2021-11-09
    price $270,500 449-char remark

    Show marketing remark (449 chars)

    One-Bedroom coop apartment located on the first floor, approximately 800 sq ft with all separate rooms, large dinette area off the kitchen, windows in the kitchen, and bathroom. Beautiful parqueted floors thru all, a lot of closet space, a low monthly charge of $576 includes hot/cold water, heat, property tax, and the building insurance and maintenance. A sublet is allowed after 2 years. Located in the heart of Madison Ocean Avenue and Avenue S.

18. 2021-11-03
    price $271,000 449-char remark

    Show marketing remark (449 chars)

    One-Bedroom coop apartment located on the first floor, approximately 800 sq ft with all separate rooms, large dinette area off the kitchen, windows in the kitchen, and bathroom. Beautiful parqueted floors thru all, a lot of closet space, a low monthly charge of $576 includes hot/cold water, heat, property tax, and the building insurance and maintenance. A sublet is allowed after 2 years. Located in the heart of Madison Ocean Avenue and Avenue S.

19. 2021-11-02
    price $272,000 449-char remark

    Show marketing remark (449 chars)

    One-Bedroom coop apartment located on the first floor, approximately 800 sq ft with all separate rooms, large dinette area off the kitchen, windows in the kitchen, and bathroom. Beautiful parqueted floors thru all, a lot of closet space, a low monthly charge of $576 includes hot/cold water, heat, property tax, and the building insurance and maintenance. A sublet is allowed after 2 years. Located in the heart of Madison Ocean Avenue and Avenue S.

20. 2021-10-11
    price $273,000 449-char remark

    Show marketing remark (449 chars)

    One-Bedroom coop apartment located on the first floor, approximately 800 sq ft with all separate rooms, large dinette area off the kitchen, windows in the kitchen, and bathroom. Beautiful parqueted floors thru all, a lot of closet space, a low monthly charge of $576 includes hot/cold water, heat, property tax, and the building insurance and maintenance. A sublet is allowed after 2 years. Located in the heart of Madison Ocean Avenue and Avenue S.

21. 2021-09-13
    price $273,900 449-char remark

    Show marketing remark (449 chars)

    One-Bedroom coop apartment located on the first floor, approximately 800 sq ft with all separate rooms, large dinette area off the kitchen, windows in the kitchen, and bathroom. Beautiful parqueted floors thru all, a lot of closet space, a low monthly charge of $576 includes hot/cold water, heat, property tax, and the building insurance and maintenance. A sublet is allowed after 2 years. Located in the heart of Madison Ocean Avenue and Avenue S.

22. 2021-08-28
    price $274,500 449-char remark

    Show marketing remark (449 chars)

    One-Bedroom coop apartment located on the first floor, approximately 800 sq ft with all separate rooms, large dinette area off the kitchen, windows in the kitchen, and bathroom. Beautiful parqueted floors thru all, a lot of closet space, a low monthly charge of $576 includes hot/cold water, heat, property tax, and the building insurance and maintenance. A sublet is allowed after 2 years. Located in the heart of Madison Ocean Avenue and Avenue S.

23. 2021-08-11
    listed $275,000 Active 449-char remark

    Show marketing remark (449 chars)

    One-Bedroom coop apartment located on the first floor, approximately 800 sq ft with all separate rooms, large dinette area off the kitchen, windows in the kitchen, and bathroom. Beautiful parqueted floors thru all, a lot of closet space, a low monthly charge of $576 includes hot/cold water, heat, property tax, and the building insurance and maintenance. A sublet is allowed after 2 years. Located in the heart of Madison Ocean Avenue and Avenue S.

24. 2020-12-14
    soldstatus $245,000 Sold 449-char remark

    Show marketing remark (449 chars)

    One Bedroom coop apartment located on the first floor , approximate 800 sq ft with all separate rooms, large dinette area off the kitchen, windows in the kitchen and bathroom. Beautiful parqueted floors thru all, a lot of closet space, law monthly charge of $576 includes hot/cold water ,heat, property tax and the building insurance and maintenance. Sublet is allowed after 2 years. Located in the hart of the Madison Ocean Avenue and avenue S.

25. 2020-08-07
    status Pending 449-char remark

    Show marketing remark (449 chars)

    One Bedroom coop apartment located on the first floor , approximate 800 sq ft with all separate rooms, large dinette area off the kitchen, windows in the kitchen and bathroom. Beautiful parqueted floors thru all, a lot of closet space, law monthly charge of $576 includes hot/cold water ,heat, property tax and the building insurance and maintenance. Sublet is allowed after 2 years. Located in the hart of the Madison Ocean Avenue and avenue S.

26. 2020-06-27
    listed $249,000 Active 449-char remark

    Show marketing remark (449 chars)

    One Bedroom coop apartment located on the first floor , approximate 800 sq ft with all separate rooms, large dinette area off the kitchen, windows in the kitchen and bathroom. Beautiful parqueted floors thru all, a lot of closet space, law monthly charge of $576 includes hot/cold water ,heat, property tax and the building insurance and maintenance. Sublet is allowed after 2 years. Located in the hart of the Madison Ocean Avenue and avenue S.

27. 2020-01-02
    price $260,000
28. 2020-01-02
    price $260,000
29. 2019-09-11
    listed $265,000 Active
30. 2019-09-11
    listed $260,000
31. 2004-11-17
    listed $155,000

ⓘ 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) · 27% chance over 30 yrs
• 🔥 Wildfire 1/10 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 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,865
• − Mortgage interest: −$15,068
• − Property taxes: −$4,035
• − Insurance: −$1,345
• − Repairs & maintenance: −$2,469
• − Management: −$2,469
• − Depreciation: −$7,825
• Taxable loss: −$2,347
• Est. tax savings @ 24.0%: +$563
• After-tax cash flow: $2,638/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

+77.4% since first listed

22 events — show timeline

• 2026-05-08 Price Changed $275,000 BNYMLS
• 2026-03-24 Listed $288,000 BNYMLS
• 2022-06-01 Sold (MLS) $258,000 BNYMLS
• 2022-04-01 Pending — BNYMLS
• 2022-02-14 Price Changed $267,900 BNYMLS
• 2022-02-06 Price Changed $268,500 BNYMLS
• 2021-12-09 Price Changed $269,000 BNYMLS
• 2021-11-09 Price Changed $270,500 BNYMLS
• 2021-11-03 Price Changed $271,000 BNYMLS
• 2021-11-02 Price Changed $272,000 BNYMLS
• 2021-10-11 Price Changed $273,000 BNYMLS
• 2021-09-13 Price Changed $273,900 BNYMLS
• 2021-08-28 Price Changed $274,500 BNYMLS
• 2021-08-11 Listed $275,000 BNYMLS
• 2020-12-14 Sold (MLS) $245,000 BNYMLS
• 2020-08-07 Pending — BNYMLS
• 2020-06-27 Listed $249,000 BNYMLS
• 2020-01-02 Price Changed $260,000 RLS at REBNY
• 2020-01-02 Price Changed $260,000 BNYMLS
• 2019-09-11 Listed $260,000 RLS at REBNY
• 2019-09-11 Listed $265,000 RLS at REBNY
• 2004-11-17 Listed $155,000 BNYMLS