3111 Brighton 2nd St Unit 5C · New York, NY 11235

$450,000

2 bd · 1.0 ba · 1,100 sqft · Condo · 322 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).

• Cash flow +12.4/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• DSCR +3.7/10.0
• 1% rule +3.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautiful modern 2-bedroom coop apartment on Brighton Beach by the ocean. Modern kitchen and modern bathroom with windows, kitchen has a dining area, hallway, lots of closets, nice laminate updated floors throw-out the apartment is on the 5th floor of elevator building, all the rooms are separate, close to children's park, food shopping, restaurants, schools, Q & D trains, buses and steps to an amazing beach. Great size apartment. Wonderful updated move-in condition. Waiting list for parking. Close to municipal parking lot. No dogs. Subleasing OK with board approval after 2 years. Laundry in the building on the main floors. Secured entrance, cameras in the hallways of the building, su

Key facts

• Lots of closets
• Kitchen with windows
• Dining area

Tags

• KITCHEN WITH WINDOWS
• BATHROOM WITH WINDOWS
• ELEVATOR BUILDING
• DINING AREA
• LOTS OF CLOSETS
• CLOSE TO FOOD SHOPPING

Property features AI

Finance

• Other: Building has 52 units; Pets are not allowed; Handicap access available; Co-op shares listed
• Financial info: Financing available: Bank mortgage or cash; Sub-lease permitted; Flip tax applies
• HOA & community: Monthly maintenance/ common fee; Managed by Narrows Management; Manager contact available

Exterior

• Parking: Street parking
• Security: Secure lobby
• Utilities: Heat; Sewer; Water
• Home design: Attached building; Residential unit on the 5th floor; Secure lobby
• Exterior features: Waterfront present

Interior

• Kitchen: Stove; Refrigerator; Dinette adjacent to the kitchen
• Bedrooms: Master bedroom on the first floor; Second bedroom on the first floor
• Flooring: Laminate floors; Tile floors
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: No AC units listed; Heat utility available
• Interior features: Elevator; Laundry area; Refrigerator; Stove; Laminate and tile floors
• Laundry & utility: Laundry area

🏢 Co-op / cooperative unit. The $450,000 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 2-bed/1.0-bath condo listed at $450k.

Deal economics

• At list price, monthly cash flow is $-143 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $429k (4.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $384k (14.7% below list).
• Recommended offer: $384k (14.7% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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 (+5.0%/yr); 521 active listings in the ZIP; 14 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 $3,840/mo this rent would consume 77% 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 $3k of loan paydown is wiped out by about $14k 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 322 days — a 12% lower offer ($396k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; severe wind risk, 80% 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 $383,952 (14.7% 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 322 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 0.85% ✗
• Cap rate: 6.09%
• Cash-on-cash: -0.73%
• DSCR: 0.97
• GRM: 9.8

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: -16.2%
• Equity multiple: 0.41×
• Total profit: $-73,893
• Equity at exit: $67,096

10-year hold

• IRR: -4.6%
• Equity multiple: 0.67×
• Total profit: $-41,276
• Equity at exit: $38,908

Cash invested: $126,000 (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 11235

• Rents YoY: 5.0%
• Active inventory: 521
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $3,840 high
• Mortgage (P&I): −$2,360
• Tax est. 1.5%: −$562 /mo · $6,750/yr
• Insurance: −$188
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$806
• Net cashflow: $-143

Break-even live

Break-even rent $4,021

Max offer price $429,295

Occupancy floor 99%

Sensitivity live

Price	-10% $168	-5% $12	+0% $-143	+5% $-299	+10% $-454
Rent	-10% $-446	-5% $-295	+0% $-143	+5% $9	+10% $160
Rate	-1.0pp $84	-0.5pp $-29	base $-143	+0.5pp $-260	+1.0pp $-378

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: $112,500
• Closing costs: $13,500
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3000 Ocean Pkwy Brooklyn, NY	2.0	2.0	1130	$3,775	$3.34	19d	2	0.23mi
532 Neptune Ave Brooklyn, NY	1.0–3.0	1.0–2.0	948	$4,562	$4.81	8d	8	0.55mi
2971 Shell Rd Unit 720 Brooklyn, NY	2.0	2.0	920	$4,100	$4.46	25d	1	0.63mi
2971 Shell Rd Unit 704 Brooklyn, NY	2.0	1.0	826	$3,950	$4.78	25d	1	0.63mi
2971 Shell Rd Unit 711 Brooklyn, NY	2.0	2.0	907	$4,200	$4.63	25d	1	0.63mi
2971 Shell Rd Unit 612 Brooklyn, NY	2.0	2.0	907	$4,150	$4.58	25d	1	0.63mi
2971 Shell Rd Unit 406 Brooklyn, NY	2.0	2.0	920	$3,550	$3.86	25d	1	0.63mi
2971 Shell Rd Unit 508 Brooklyn, NY	2.0	2.0	930	$4,099	$4.41	25d	1	0.63mi
2971 Shell Rd Unit 602 Brooklyn, NY	3.0	2.0	1301	$5,299	$4.07	25d	1	0.63mi
2957 Shell Rd Brooklyn, NY	3.0	2.0	1292	$5,550	$4.30	25d	1	0.63mi
2538 E 2nd St Unit 2 Brooklyn, NY	3.0	1.0	1100	$2,600	$2.36	24d	1	0.82mi
1515 Surf Ave Brooklyn, NY	1.0–2.0	1.0	706	$5,195	$7.35	2d	15	0.94mi
2483 W 16th St Brooklyn, NY	1.0	1.0	800	$1,800	$2.25	21d	1	1.27mi
3000 Emmons Ave Unit 5 Brooklyn, NY	2.0	2.0	840	$4,085	$4.86	25d	1	1.50mi

HOA detail condo

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

Listing history 13 events

1. 2026-06-03
   days on market $450,000 Active 322 DOM
2. 2026-06-01
   days on market $450,000 Active 320 DOM
3. 2026-05-31
   days on market $450,000 Active 319 DOM
4. 2026-01-03
   price $450,000
5. 2025-07-23
   price $399,999
6. 2025-07-16
   listed $400,000 Active
7. 2022-10-06
   price $385,000
8. 2022-07-23
   price $399,900
9. 2022-05-18
   price $410,000
10. 2022-05-14
    price $399,990
11. 2016-08-24
    price $310,000
12. 2016-06-21
    price $335,000
13. 2016-05-26
    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 7/10 Severe FEMA zone X (shaded) · 60% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $46,074
• − Mortgage interest: −$25,207
• − Property taxes: −$6,750
• − Insurance: −$3,048
• − Repairs & maintenance: −$3,686
• − Management: −$3,686
• − Depreciation: −$13,091
• Taxable loss: −$9,393
• Est. tax savings @ 24.0%: +$2,254
• After-tax cash flow: $537/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

+25.3% since first listed

10 events — show timeline

• 2026-01-03 Price Changed $450,000 BNYMLS
• 2025-07-23 Price Changed $399,999 BNYMLS
• 2025-07-16 Listed $400,000 BNYMLS
• 2022-10-06 Price Changed $385,000 BNYMLS
• 2022-07-23 Price Changed $399,900 BNYMLS
• 2022-05-18 Price Changed $410,000 BNYMLS
• 2022-05-14 Price Changed $399,990 BNYMLS
• 2016-08-24 Price Changed $310,000 BNYMLS
• 2016-06-21 Price Changed $335,000 BNYMLS
• 2016-05-26 Price Changed $359,000 BNYMLS