40 E 43rd St Unit 3B · New York, NY 11203

$275,000

2 bd · 1.0 ba · 1,000 sqft · Condo · 29 Days on market

Built 1964

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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 +26.1/30.0
• DSCR +8.8/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

.Bright and well maintained two bedroom, one bath co-op with a spacious layout and updated finishes throughout. The large living room features hardwood floors and large windows that bring in excellent natural light. The kitchen offers stainless steel appliances, ample cabinet storage, and generous counter space. Both bedrooms are comfortably sized with flexibility for a home office or guest room. Located in a convenient residential section of Brooklyn, 40 E 43rd Street offers easy access to neighborhood shopping, restaurants, schools, and everyday conveniences. Transportation is a major highlight, with nearby access to the 2 and 5 subway lines as well as several bus routes, making commuting

Key facts

• Built 1964
• Listed 29 days

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Electricity connected; Natural gas connected; Public water; Public sewer; Public trash collection
• Home design: Stock cooperative; One level
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Dishwasher; Gas range; Refrigerator; Stainless steel appliances
• Bedrooms: 3rd floor entry level
• Bathrooms: 1 full bathroom
• Heating & cooling: Steam heat; Wall/window air conditioning units
• Interior features: Eat-in kitchen; Elevator access

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $275k.

Deal economics

• At list price, monthly cash flow is $694 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $275k).
• Recommended offer: $271k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.3% 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: Ps 235 Janice Marie Knight School (math 47% / reading 72%, grade B-, #745 of 2,108 statewide, top 39%, 952 students, 74% 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 (+2.9%/yr); 190 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $3,284/mo this rent would consume 58% of the median local household income ($68k/yr) (locally 5458% 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 $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.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($271k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 11y 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 wind risk, 64% 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 $270,875 (1.5% below list)

Questions for the listing agent

1. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.19% ✓
• Cap rate: 9.32%
• Cash-on-cash: 10.82%
• DSCR: 1.48
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.89% rent growth · sell at horizon

5-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-668
• Equity at exit: $41,003

10-year hold

• IRR: 9.3%
• Equity multiple: 1.72×
• Total profit: $55,058
• Equity at exit: $23,777

Cash invested: $77,000 (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 11203

• Rents YoY: 2.9%
• Active inventory: 190
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $3,284 high
• Mortgage (P&I): −$1,442
• Tax est. 1.5%: −$344 /mo · $4,125/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$690
• Net cashflow: $694

Break-even live

Break-even rent $2,406

Max offer price $275,000

Occupancy floor 74%

Sensitivity live

Price	-10% $884	-5% $789	+0% $694	+5% $599	+10% $504
Rent	-10% $435	-5% $564	+0% $694	+5% $824	+10% $954
Rate	-1.0pp $833	-0.5pp $764	base $694	+0.5pp $623	+1.0pp $550

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
361 Winthrop St Brooklyn, NY	3.0	4.0	500	$1,510	$3.02	6d	1	0.54mi
256 E 55th St #1 Brooklyn, NY	2.0	1.0	1200	$2,600	$2.17	26d	1	0.68mi
1266 Park Pl Unit 1A Brooklyn, NY	2.0	1.5	886	$3,250	$3.67	26d	1	1.21mi
819 Saratoga Ave Brooklyn, NY	3.0	1.5	1300	$3,350	$2.58	26d	1	1.27mi
800 Park Pl Unit 3R Brooklyn, NY	2.0	2.0	1300	$6,995	$5.38	26d	1	1.44mi
762 Park Pl Unit 3B Brooklyn, NY	3.0	2.0	1114	$5,400	$4.85	26d	1	1.47mi

HOA detail condo

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

Listing history 22 events

1. 2026-06-21
   days on market $275,000 Active 29 DOM
2. 2026-06-18
   days on market $275,000 Active 26 DOM
3. 2026-06-17
   days on market $275,000 Active 25 DOM
4. 2026-06-16
   days on market $275,000 Active 24 DOM
5. 2026-06-15
   days on market $275,000 Active 23 DOM
6. 2026-06-13
   days on market $275,000 Active 21 DOM
7. 2026-06-10
   days on market $275,000 Active 17 DOM
8. 2026-06-08
   days on market $275,000 Active 16 DOM
9. 2026-06-08
   days on market $275,000 Active 15 DOM
10. 2026-06-04
    days on market $275,000 Active 12 DOM
11. 2026-06-03
    days on market $275,000 Active 11 DOM
12. 2026-06-02
    days on market $275,000 Active 10 DOM
13. 2026-06-01
    days on market $275,000 Active 9 DOM
14. 2026-05-31
    days on market $275,000 Active 8 DOM
15. 2026-05-22
    listed $275,000 Active
16. 2025-11-01
    historical
17. 2025-08-14
    price $289,900
18. 2025-04-05
    status Active
19. 2025-02-18
    status Pending
20. 2024-10-12
    listed $289,999 Active
21. 2015-07-24
    historical
22. 2015-04-28
    listed $170,000

ⓘ 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) · 20% 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 64% 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: $39,411
• − Mortgage interest: −$15,404
• − Property taxes: −$4,125
• − Insurance: −$1,375
• − Repairs & maintenance: −$3,153
• − Management: −$3,153
• − Depreciation: −$8,000
• Taxable income: $4,201
• Est. tax owed @ 24.0%: −$1,008
• After-tax cash flow: $7,321/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): 74,817
• Household income: $67,897
• Rent vs Own: 60.4% rent · 39.6% own
• Severe rent burden: 5458.0

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: Predominantly Black (78%)
• Race & ethnicity: Black 78% Two or more races 10% Hispanic / Latino 7% White 5% Asian 2%
• Hispanic origin (detail): Puerto Rican 2% Dominican 1%
• Common ancestry: Hispanic 9%
• Foreign-born: 49% · Canada, Mexico, China
• Languages at home: 81% English-only · French/Haitian/Cajun 10% Spanish 5% Other Indo-European 1%

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: ▼ -572.37%
• Current HPI: 379.2379
• Rent YoY: ▲ 2.89%
• 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

+61.8% since first listed

8 events — show timeline

• 2026-05-22 Listed $275,000 OneKey® MLS as Distributed by MLS Grid
• 2025-11-01 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-08-14 Price Changed $289,900 OneKey® MLS as Distributed by MLS Grid
• 2025-04-05 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-02-18 Pending — OneKey® MLS as Distributed by MLS Grid
• 2024-10-12 Listed $289,999 OneKey® MLS as Distributed by MLS Grid
• 2015-07-24 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2015-04-28 Listed $170,000 OneKey® MLS as Distributed by MLS Grid