21 Richmond Ct · New York, NY 10303

$450,000

3 bd · 2.0 ba · 1,297 sqft · Condo · 112 Days on market

Built 1988

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Why this score? — see what drove the F 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 +7.8/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• 1% rule +3.8/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 21 Richmond Ct — a move-in-ready duplex offering approximately 1,300 sq ft of well-designed living space in a desirable Staten Island community. This spacious home features 3 generously sized bedrooms, 2 full bathrooms, and a bright open living and dining layout perfect for both everyday living and entertaining. The functional kitchen offers ample cabinetry, while the smart duplex design provides privacy between living and sleeping areas. The property includes 1 assigned parking space for added convenience. The monthly HOA of $331.60 covers exterior siding, roof maintenance and replacement, and common area upkeep — giving you true low-maintenance ownership and protect

Key facts

• Functional kitchen
• Bright open living
• Move-in-ready duplex

Tags

• MOVE-IN-READY DUPLEX
• BRIGHT OPEN LIVING
• FUNCTIONAL KITCHEN
• SMART DUPLEX DESIGN
• ASSIGNED PARKING SPACE
• LOW-MAINTENANCE OWNERSHIP

Property features AI

Finance

• Financial info: Financing options: exchange considered, bank mortgage, or cash

Exterior

• Parking: Carport with space for 1 vehicle
• Utilities: 110V electric; Gas hot water; Gas for heating; Hot water heat delivery
• Home design: Attached building; Residential property; Pitched roof; Poured concrete foundation
• Construction: Pitched roof; Poured concrete foundation
• Exterior features: Siding exterior

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Bedrooms: Two bedrooms on the second floor; One bedroom on the third floor
• Flooring: Carpeting; Hardwood floors; Tile floors
• Bathrooms: One full bathroom; One three-quarter bathroom
• Heating & cooling: Hot water heat; Gas heating fuel; Central A/C
• Interior features: Central A/C; Dishwasher; Microwave; Refrigerator; 4 air conditioning units

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $450k.

Deal economics

• At list price, monthly cash flow is $-493 ($-6k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $395k (12.1% below list).
• Recommended offer: $395k (12.1% below list) — sets the bar for 1% rule.
• Cap rate 5.0% 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: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% FRL); Is 51 Edwin Markham (math 54% / reading 74%, grade A-, #121 of 729 statewide, top 17%, 1,205 students, 77% FRL); Midwood High School (math 94% / reading 96%, grade A+, #83 of 1,100 statewide, top 8%, 4,062 students, 73% FRL).
• Market conditions: 109 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 480 units permitted in Richmond County in 2024 (22 in 5+ unit buildings).
• At $3,954/mo this rent would consume 57% of the median local household income ($84k/yr) (locally 1198% 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.
• Richmond County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 112 days — a 9% lower offer ($410k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% 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 $395,385 (12.1% 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 112 days. Have you received any prior offers? Is the seller open to a 12% 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: 0.88% ✗
• Cap rate: 4.98%
• Cash-on-cash: -4.70%
• DSCR: 0.79
• GRM: 9.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -24.1%
• Equity multiple: 0.17×
• Total profit: $-103,967
• Equity at exit: $67,096

10-year hold

• IRR: -19.1%
• Equity multiple: -0.03×
• Total profit: $-129,482
• 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 10303

• Home prices YoY: -24.8%
• Active inventory: 109
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $3,954 medium
• Mortgage (P&I): −$2,360
• Tax est. 1.5%: −$562 /mo · $6,750/yr
• Insurance: −$188
• HOA est. from 3 same-building comps: −$507
• Vacancy / Maint / Mgmt: −$830
• Net cashflow: $-493

Break-even live

Break-even rent $4,578

Max offer price $378,618

Occupancy floor —

Sensitivity live

Price	-10% $-182	-5% $-338	+0% $-493	+5% $-649	+10% $-804
Rent	-10% $-806	-5% $-649	+0% $-493	+5% $-337	+10% $-181
Rate	-1.0pp $-267	-0.5pp $-379	base $-493	+0.5pp $-610	+1.0pp $-729

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 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
200 Glenn Zamorski DR Lot Glenn Elizabethport, NJ	3.0	2.0	1550	$7,000	$4.52	0d	1	1.12mi
76 Port Ave Unit 2 Elizabethport, NJ	3.0	2.0	1250	$2,799	$2.24	22d	1	1.14mi
76 Port Ave #1 Elizabethport, NJ	3.0	2.0	1275	$2,750	$2.16	6d	1	1.14mi

HOA detail condo

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

Listing history 13 events

1. 2026-06-21
   days on market $450,000 Active 112 DOM
2. 2026-06-18
   days on market $450,000 Active 109 DOM
3. 2026-06-17
   days on market $450,000 Active 108 DOM
4. 2026-06-15
   days on market $450,000 Active 106 DOM
5. 2026-06-13
   days on market $450,000 Active 104 DOM
6. 2026-06-10
   days on market $450,000 Active 100 DOM
7. 2026-06-08
   days on market $450,000 Active 99 DOM
8. 2026-06-08
   days on market $450,000 Active 98 DOM
9. 2026-06-04
   days on market $450,000 Active 95 DOM
10. 2026-06-03
    days on market $450,000 Active 94 DOM
11. 2026-06-01
    days on market $450,000 Active 92 DOM
12. 2026-05-31
    days on market $450,000 Active 91 DOM
13. 2026-03-01
    listed $450,000 Active

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 9% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $47,446
• − Mortgage interest: −$25,207
• − Property taxes: −$6,750
• − Insurance: −$2,250
• − Repairs & maintenance: −$3,796
• − Management: −$3,796
• − HOA: −$6,084
• − Depreciation: −$13,091
• Taxable loss: −$13,527
• Est. tax savings @ 24.0%: +$3,247
• After-tax cash flow: $-2,673/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: Richmond County · 404,174 people
• City population: 7,731,280
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 26,497
• Household income: $83,947
• Rent vs Own: 34.8% rent · 65.2% own
• Severe rent burden: 1198.0

Population outlook (Richmond County) Hauer SSP2

• Today (2025): 482,784 people
• By 2030: 481,831 · -0.2%
• By 2040: 473,159 · -2.0%
• By 2050: 457,242 · -5.3%
• By 2075: 408,029 · -15.5%
• By 2100: 341,459 · -29.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: Hispanic / Latino 38% Black 33% Two or more races 17% White 15% Asian 10%
• Hispanic origin (detail): Mexican 5% Puerto Rican 19% Dominican 5%
• Common ancestry: Romanian 2% Italian 1% Swiss 1%
• Foreign-born: 26% · Canada, China, Jamaica
• Languages at home: 57% English-only · Spanish 25% Other Indo-European 6% Chinese 3%

Political lean MEDSL · Richmond

• 2024 margin: Strong R (+29.8) · D 35.1% · R 64.9%
• 2008→2024 swing: -25.7pp toward R · 2008: -4.0pp · 2024: -29.8pp
• All cycles: 2024: R+29.8 2020: R+14.9 2016: R+16.8 2012: D+0.8 2008: R+4.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -121.86%
• Current HPI: 369.2771
• Rent YoY: —
• 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

• 2026-03-01 Listed $450,000 BNYMLS