2580 Ocean Pkwy Unit 4D · New York, NY 11235

$339,000

1 bd · 1.0 ba · 770 sqft · Condo · 17 Days on market

Built 1961

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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 +18.4/30.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• Schools +5.0/10.0
• 1% rule +4.9/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Fully renovated excellent condition specific and bright 1-bedroom apartment (770 sq. ft. ) located in the heart of Gravesend. Living room & dinette combo with two double windows. Parquet (oak wood) flooring throughout. Kitchen is equipped with tile floor, quartz countertop/backsplash and stainless-steel appliances (refrigerator, stove, over-the-range microwave). The huge bedroom with two windows is on the opposite side of the apartment from the living room. Four closets. Fully tiled big bathroom, hot tub with glass sliding door. Maintenance covers everything but cooking gas and electricity in the apartment. Sublet allowed after 2 years with board approval. The modern building offers

Key facts

• Fully renovated
• Quartz countertop
• Parquet flooring

Tags

• FULLY RENOVATED
• BRIGHT APARTMENT
• PARQUET FLOORING
• QUARTZ COUNTERTOP
• STAINLESS STEEL APPLIANCES
• HUGE BEDROOM

Property features AI

Finance

• Other: Sub-lease allowed
• Financial info: Financing available: Bank mortgage or cash; Typical down payment required: 20%; Flip tax applies (percentage)
• HOA & community: Monthly maintenance common fee; Building managed by Jalen Management; Manager contact available; Pets are not allowed; Handicap access available; Co-op shares

Exterior

• Parking: Garage (wait-list)
• Security: Secure lobby; Intercom; Card-operated door entry
• Utilities: Heat provided; Gas hot water; Gas heating fuel; Steam/radiator heat; Sewer and water connections; Septic listed
• Home design: Residential unit in a detached building; Located on the 4th floor
• Construction: Detached building
• Exterior features: Secure lobby; Intercom door; Card-operated entry; Exercise room; Resident superintendent

Interior

• Kitchen: Kitchen with 9+ foot ceilings; Microwave; Refrigerator; Stove; Garbage disposal
• Bedrooms: One bedroom on the first floor with double-door closets and 9+ foot ceilings
• Flooring: Parquet floors; Stone floors
• Bathrooms: One full bathroom on the first floor with 9+ foot ceilings
• Heating & cooling: Steam/radiator heat; Gas heating fuel; Gas hot water; Wall-mounted A/C units (2)
• Interior features: Wall A/C units (2); Disposal; Elevator access; Laundry area in building; Microwave; Refrigerator; Stove
• Laundry & utility: Building laundry (card-operated)

🏢 Co-op / cooperative unit. The $339,000 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 $339k.

Deal economics

• At list price, monthly cash flow is $318 ($4k/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 $337k (0.7% below list).
• Recommended offer: $334k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.4% 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.
• Market conditions: Rents rising fast (+5.0%/yr); 521 active listings in the ZIP; 12 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 $3,368/mo this rent would consume 68% of the median local household income ($60k/yr) (locally 7823% 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 $10k 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 17 days — a 2% lower offer ($334k) is reasonable based on typical stale-listing flexibility.

Recommended offer $333,915 (1.5% below list)

Questions for the listing agent

1. Built in 1961 — 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: 0.99% ✗
• Cap rate: 7.42%
• Cash-on-cash: 4.02%
• DSCR: 1.18
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.04% rent growth · sell at horizon

5-year hold

• IRR: -7.7%
• Equity multiple: 0.71×
• Total profit: $-27,595
• Equity at exit: $50,546

10-year hold

• IRR: 4.3%
• Equity multiple: 1.34×
• Total profit: $32,406
• Equity at exit: $29,311

Cash invested: $94,920 (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 11235

• Rents YoY: 5.0%
• Active inventory: 521
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $3,368 high
• Mortgage (P&I): −$1,778
• Tax est. 1.5%: −$424 /mo · $5,085/yr
• Insurance: −$141
• HOA: −$0
• Vacancy / Maint / Mgmt: −$707
• Net cashflow: $318

Break-even live

Break-even rent $2,966

Max offer price $339,000

Occupancy floor 86%

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: $84,750
• Closing costs: $10,170
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2971 Shell Rd Unit 711 Brooklyn, NY	2.0	2.0	907	$4,200	$4.63	24d	1	0.73mi
2971 Shell Rd Unit 406 Brooklyn, NY	2.0	2.0	920	$3,550	$3.86	24d	1	0.73mi
2971 Shell Rd Unit 720 Brooklyn, NY	2.0	2.0	920	$4,100	$4.46	24d	1	0.73mi
2971 Shell Rd Unit 508 Brooklyn, NY	2.0	2.0	930	$4,099	$4.41	24d	1	0.73mi
2971 Shell Rd Unit 704 Brooklyn, NY	2.0	1.0	826	$3,950	$4.78	24d	1	0.73mi
2971 Shell Rd Unit 612 Brooklyn, NY	2.0	2.0	907	$4,150	$4.58	24d	1	0.73mi
532 Neptune Ave Brooklyn, NY	1.0–3.0	1.0–2.0	948	$3,400	$3.58	7d	8	0.74mi
2483 W 16th St Brooklyn, NY	1.0	1.0	800	$1,800	$2.25	20d	1	0.95mi
1515 Surf Ave Brooklyn, NY	1.0–2.0	1.0	706	$3,120	$4.42	1d	15	1.21mi
63 Bay 37th St Unit 1R Brooklyn, NY	2.0	1.0	900	$3,100	$3.44	24d	1	1.41mi
3000 Emmons Ave Unit 5 Brooklyn, NY	2.0	2.0	840	$4,085	$4.86	24d	1	1.49mi
3000 Emmons Ave Unit 1 Brooklyn, NY	—	1.0	536	$3,273	$6.11	24d	1	1.49mi

HOA detail condo

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

Listing history 12 events

1. 2026-06-18
   days on market $339,000 Active 17 DOM
2. 2026-06-17
   days on market $339,000 Active 16 DOM
3. 2026-06-16
   days on market $339,000 Active 15 DOM
4. 2026-06-15
   days on market $339,000 Active 14 DOM
5. 2026-06-13
   days on market $339,000 Active 12 DOM
6. 2026-06-09
   days on market $339,000 Active 8 DOM
7. 2026-06-08
   days on market $339,000 Active 7 DOM
8. 2026-06-08
   days on market $339,000 Active 6 DOM
9. 2026-06-04
   days on market $339,000 Active 3 DOM
10. 2026-06-03
    days on market $339,000 Active 2 DOM
11. 2026-06-02
    remarks 695-char remark
12. 2026-06-02
    listed $339,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $40,412
• − Mortgage interest: −$18,989
• − Property taxes: −$5,085
• − Insurance: −$1,695
• − Repairs & maintenance: −$3,233
• − Management: −$3,233
• − Depreciation: −$9,862
• Taxable loss: −$1,685
• Est. tax savings @ 24.0%: +$404
• After-tax cash flow: $4,217/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): 78,558
• Household income: $59,661
• Rent vs Own: 65.2% rent · 34.8% own
• Severe rent burden: 7823.0

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 White (67%)
• Race & ethnicity: White 67% Asian 15% Two or more races 9% Hispanic / Latino 9% Black 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3%
• Common ancestry: Scotch-Irish 15% Subsaharan African 12% Romanian 2%
• Foreign-born: 63% · China, Canada, Vietnam
• Languages at home: 24% English-only · Russian/Polish/Slavic 48% Chinese 7% Spanish 7%

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: ▼ -181.73%
• Current HPI: 303.6714
• Rent YoY: ▲ 5.04%
• 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

1 event — show timeline

• 2026-06-01 Listed $339,000 BNYMLS