2483 W 16th St Unit 8E · New York, NY 11214

$399,000

2 bd · 1.0 ba · 1,000 sqft · Condo · 91 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).

• ARV discount +7.5/15.0
• Cash flow +7.3/30.0
• 1% rule +5.2/10.0
• Schools +5.0/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• DSCR +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Harway Terrace Coop, a luxurious 1000 square foot, eight-floor building with a generous sized 75 square foot balcony offering a stunning views of Manhattan from every window. The apartment has lots of closet space, a modern kitchen with granite countertops and stainless steel appliances. A well-maintained lobby area with elevators, a security doorman, a laundry room, and an outdoor playground are all highlights of the building. The D, F, and N railways, express bus lines, schools, parks, places of worship, and shopping are all nearby. There is a short waiting list for parking which will cost $60/month, but there plenty of street parking available in the area. Flexible showing times, please text or call for more details and to schedule your viewing appointment.

Key facts

• Private balcony
• Updated kitchen
• Updated bathroom

Tags

• UPDATED KITCHEN
• PRIVATE BALCONY
• MANHATTAN SKYLINE VIEWS
• UPDATED BATHROOM

Property features AI

Finance

• Financial info: Financing available: Bank mortgage or cash; Flip tax applies
• HOA & community: Monthly maintenance/ common fee of $1,100; Managed by Coney Realty (manager phone: [phone]); Co-op shares: 585.00; Pets are not allowed; Handicap access available

Exterior

• Parking: Wait-list parking
• Security: Secure lobby; Full-time doorman
• Utilities: Electric; Gas; Heat; Septic; Sewer; Sprinkler system; Water; Other
• Home design: Residential property; Located on the 8th floor
• Exterior features: Secure lobby; Full-time doorman; Terrace

Interior

• Kitchen: Refrigerator; Kitchen/Dining combo
• Bedrooms: Two bedrooms on the first floor
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Heat; Wall A/C units (3)
• Interior features: Wall A/C units (3); Elevator; Terrace
• Laundry & utility: Card-operated laundry in building

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $399k.

Deal economics

• At list price, monthly cash flow is $-530 ($-6k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $399k).
• Recommended offer: $363k (9.0% below list) — sets the bar for market timing.
• Cap rate 4.7% 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 (+5.9%/yr); 330 active listings in the ZIP; 22 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 $4,065/mo this rent would consume 74% of the median local household income ($66k/yr) (locally 6028% 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 $3k of loan paydown is wiped out by about $12k 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 91 days — a 9% lower offer ($363k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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

• Watch-outs: HOA is 24% of rent.
• Climate carrying-cost: major wind risk, 69% 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 $363,090 (9.0% 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 91 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
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. 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: 1.02% ✓
• Cap rate: 4.70%
• Cash-on-cash: -5.69%
• DSCR: 0.75
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.87% rent growth · sell at horizon

5-year hold

• IRR: -21.4%
• Equity multiple: 0.23×
• Total profit: $-85,681
• Equity at exit: $59,492

10-year hold

• IRR: -7.6%
• Equity multiple: 0.44×
• Total profit: $-62,827
• Equity at exit: $34,498

Cash invested: $111,720 (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 11214

• Rents YoY: 5.9%
• Active inventory: 330
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $4,065 high
• Mortgage (P&I): −$2,092
• Tax est. 1.5%: −$499 /mo · $5,985/yr
• Insurance: −$166
• HOA est. from 4 same-building comps: −$984
• Vacancy / Maint / Mgmt: −$854
• Net cashflow: $-530

Break-even live

Break-even rent $4,736

Max offer price $322,284

Occupancy floor —

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2483 W 16th St Brooklyn, NY	1.0	1.0	800	$1,800	$2.25	21d	1	0.01mi
8642 26th Ave Unit 3 Brooklyn, NY	3.0	1.0	1100	$3,100	$2.82	15d	1	0.62mi
2957 Shell Rd Brooklyn, NY	3.0	2.0	1292	$5,550	$4.30	25d	1	0.63mi
2971 Shell Rd Unit 704 Brooklyn, NY	2.0	1.0	826	$3,950	$4.78	25d	1	0.64mi
2971 Shell Rd Unit 406 Brooklyn, NY	2.0	2.0	920	$3,550	$3.86	25d	1	0.64mi
2971 Shell Rd Unit 711 Brooklyn, NY	2.0	2.0	907	$4,200	$4.63	25d	1	0.64mi
2971 Shell Rd Unit 508 Brooklyn, NY	2.0	2.0	930	$4,099	$4.41	25d	1	0.64mi
2971 Shell Rd Unit 612 Brooklyn, NY	2.0	2.0	907	$4,150	$4.58	25d	1	0.64mi
2971 Shell Rd Unit 602 Brooklyn, NY	3.0	2.0	1301	$5,299	$4.07	25d	1	0.64mi
2971 Shell Rd Unit 720 Brooklyn, NY	2.0	2.0	920	$4,100	$4.46	25d	1	0.64mi
532 Neptune Ave Brooklyn, NY	1.0–3.0	1.0–2.0	948	$4,562	$4.81	8d	8	0.73mi
1515 Surf Ave Brooklyn, NY	1.0–2.0	1.0	706	$5,195	$7.35	2d	15	0.76mi
63 Bay 37th St Unit 1R Brooklyn, NY	2.0	1.0	900	$3,100	$3.44	25d	1	0.78mi
2538 E 2nd St Unit 2 Brooklyn, NY	3.0	1.0	1100	$2,600	$2.36	24d	1	0.84mi
2286 Cropsey Ave Unit 13E Brooklyn, NY	2.0	2.0	948	$5,550	$5.85	19d	1	0.90mi
2286 Cropsey Ave Unit 6A Brooklyn, NY	2.0	2.0	889	$5,125	$5.76	25d	1	0.90mi
2286 Cropsey Ave Unit 7E Brooklyn, NY	2.0	2.0	948	$5,250	$5.54	19d	1	0.90mi
2286 Cropsey Ave Unit 9A Brooklyn, NY	2.0	2.0	889	$5,200	$5.85	19d	1	0.90mi
2286 Cropsey Ave Unit 8B Brooklyn, NY	2.0	2.0	889	$5,000	$5.62	19d	1	0.90mi
2286 Cropsey Ave Unit 18B Brooklyn, NY	2.0	2.0	889	$5,300	$5.96	19d	1	0.90mi
3000 Ocean Pkwy Brooklyn, NY	2.0	2.0	1130	$3,775	$3.34	19d	2	1.03mi
2321 81st St Unit 1 Brooklyn, NY	3.0	1.0	1199	$2,499	$2.08	17d	1	1.14mi

HOA detail condo

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

Listing history 20 events

1. 2026-06-18
   days on market $399,000 Active 91 DOM
2. 2026-06-17
   days on market $399,000 Active 90 DOM
3. 2026-06-15
   days on market $399,000 Active 88 DOM
4. 2026-06-13
   days on market $399,000 Active 86 DOM
5. 2026-06-10
   days on market $399,000 Active 82 DOM
6. 2026-06-08
   days on market $399,000 Active 81 DOM
7. 2026-06-08
   days on market $399,000 Active 80 DOM
8. 2026-06-04
   days on market $399,000 Active 77 DOM
9. 2026-06-03
   days on market $399,000 Active 76 DOM
10. 2026-06-01
    days on market $399,000 Active 74 DOM
11. 2026-05-31
    days on market $399,000 Active 73 DOM
12. 2026-03-19
    listed $399,000 Active
13. 2024-01-12
    soldstatus $405,000 Sold 781-char remark

    Show marketing remark (781 chars)

    Welcome to Harway Terrace Coop, a luxurious 1000 square foot, eight-floor building with a generous sized 75 square foot balcony offering a stunning views of Manhattan from every window. The apartment has lots of closet space, a modern kitchen with granite countertops and stainless steel appliances. A well-maintained lobby area with elevators, a security doorman, a laundry room, and an outdoor playground are all highlights of the building. The D, F, and N railways, express bus lines, schools, parks, places of worship, and shopping are all nearby. There is a short waiting list for parking which will cost $60/month, but there plenty of street parking available in the area. Flexible showing times, please text or call for more details and to schedule your viewing appointment.

14. 2023-07-03
    status Pending 781-char remark

    Show marketing remark (781 chars)

    Welcome to Harway Terrace Coop, a luxurious 1000 square foot, eight-floor building with a generous sized 75 square foot balcony offering a stunning views of Manhattan from every window. The apartment has lots of closet space, a modern kitchen with granite countertops and stainless steel appliances. A well-maintained lobby area with elevators, a security doorman, a laundry room, and an outdoor playground are all highlights of the building. The D, F, and N railways, express bus lines, schools, parks, places of worship, and shopping are all nearby. There is a short waiting list for parking which will cost $60/month, but there plenty of street parking available in the area. Flexible showing times, please text or call for more details and to schedule your viewing appointment.

15. 2023-06-09
    price $395,000 781-char remark

    Show marketing remark (781 chars)

    Welcome to Harway Terrace Coop, a luxurious 1000 square foot, eight-floor building with a generous sized 75 square foot balcony offering a stunning views of Manhattan from every window. The apartment has lots of closet space, a modern kitchen with granite countertops and stainless steel appliances. A well-maintained lobby area with elevators, a security doorman, a laundry room, and an outdoor playground are all highlights of the building. The D, F, and N railways, express bus lines, schools, parks, places of worship, and shopping are all nearby. There is a short waiting list for parking which will cost $60/month, but there plenty of street parking available in the area. Flexible showing times, please text or call for more details and to schedule your viewing appointment.

16. 2023-06-09
    status Active 781-char remark

    Show marketing remark (781 chars)

    Welcome to Harway Terrace Coop, a luxurious 1000 square foot, eight-floor building with a generous sized 75 square foot balcony offering a stunning views of Manhattan from every window. The apartment has lots of closet space, a modern kitchen with granite countertops and stainless steel appliances. A well-maintained lobby area with elevators, a security doorman, a laundry room, and an outdoor playground are all highlights of the building. The D, F, and N railways, express bus lines, schools, parks, places of worship, and shopping are all nearby. There is a short waiting list for parking which will cost $60/month, but there plenty of street parking available in the area. Flexible showing times, please text or call for more details and to schedule your viewing appointment.

17. 2023-05-01
    status Pending 781-char remark

    Show marketing remark (781 chars)

    Welcome to Harway Terrace Coop, a luxurious 1000 square foot, eight-floor building with a generous sized 75 square foot balcony offering a stunning views of Manhattan from every window. The apartment has lots of closet space, a modern kitchen with granite countertops and stainless steel appliances. A well-maintained lobby area with elevators, a security doorman, a laundry room, and an outdoor playground are all highlights of the building. The D, F, and N railways, express bus lines, schools, parks, places of worship, and shopping are all nearby. There is a short waiting list for parking which will cost $60/month, but there plenty of street parking available in the area. Flexible showing times, please text or call for more details and to schedule your viewing appointment.

18. 2023-03-07
    listed $325,000 Active 781-char remark

    Show marketing remark (781 chars)

    Welcome to Harway Terrace Coop, a luxurious 1000 square foot, eight-floor building with a generous sized 75 square foot balcony offering a stunning views of Manhattan from every window. The apartment has lots of closet space, a modern kitchen with granite countertops and stainless steel appliances. A well-maintained lobby area with elevators, a security doorman, a laundry room, and an outdoor playground are all highlights of the building. The D, F, and N railways, express bus lines, schools, parks, places of worship, and shopping are all nearby. There is a short waiting list for parking which will cost $60/month, but there plenty of street parking available in the area. Flexible showing times, please text or call for more details and to schedule your viewing appointment.

19. 2022-10-25
    price $349,000
20. 2022-08-23
    price $359,000

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 23% 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 69% 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: $48,778
• − Mortgage interest: −$22,350
• − Property taxes: −$5,985
• − Insurance: −$1,995
• − Repairs & maintenance: −$3,902
• − Management: −$3,902
• − HOA: −$11,808
• − Depreciation: −$11,607
• Taxable loss: −$12,772
• Est. tax savings @ 24.0%: +$3,065
• After-tax cash flow: $-3,297/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): 89,397
• Household income: $65,895
• Rent vs Own: 65.4% rent · 34.6% own
• Severe rent burden: 6028.0

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 0.67)
• Race & ethnicity: White 40% Asian 38% Hispanic / Latino 17% Two or more races 6% Black 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3% Dominican 2%
• Common ancestry: Scotch-Irish 4% Subsaharan African 3% Romanian 2%
• Foreign-born: 56% · China, Canada, Vietnam
• Languages at home: 26% English-only · Chinese 28% Russian/Polish/Slavic 15% Spanish 13%

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: ▼ -184.55%
• Current HPI: 276.0804
• Rent YoY: ▲ 5.87%
• 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

+11.1% since first listed

9 events — show timeline

• 2026-03-19 Listed $399,000 BNYMLS
• 2024-01-12 Sold (MLS) $405,000 BNYMLS
• 2023-07-03 Pending — BNYMLS
• 2023-06-09 Price Changed $395,000 BNYMLS
• 2023-06-09 Relisted — BNYMLS
• 2023-05-01 Pending — BNYMLS
• 2023-03-07 Listed $325,000 BNYMLS
• 2022-10-25 Price Changed $349,000 BNYMLS
• 2022-08-23 Price Changed $359,000 BNYMLS