490 Clove Rd Unit Ms · New York, NY 10310

$344,000

2 bd · 1.0 ba · 900 sqft · SingleFamily · 76 Days on market

Built 1990 Good condition 900 sqft lot Garage $382/sqft · 51% below area $198/mo HOA · 8% of rent ↓ 8% since listing

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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).

• ARV discount +7.5/15.0
• Schools +6.1/10.0
• Cash flow +5.6/30.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• 1% rule +1.8/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 490 Clove Road, Unit MS—a well-maintained basement unit offering a comfortable and functional layout. This unit features 2 bedrooms and 1 full bathroom, along with a spacious living room/dining room combo and a galley kitchen designed for efficient everyday use. The unit also comes with a private parking space and its own private side entrance, in addition to a shared main entrance. The building offers added convenience with on-site laundry machines and available storage. With a practical layout and ample living space, it's a great option for those seeking an affordable and convenient place to call home.

Key facts

• Available storage
• Comfortable layout
• Functional layout

Tags

• PRIVATE PARKING SPACE
• PRIVATE SIDE ENTRANCE
• ON-SITE LAUNDRY MACHINES
• AVAILABLE STORAGE
• COMFORTABLE LAYOUT
• FUNCTIONAL LAYOUT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $344k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-719 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $240k (30.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $235k (31.7% below list).
• Recommended offer: $235k (31.7% below list) — sets the bar for 1% rule.
• Cap rate 3.8% vs local median 2.7% 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 27 Anning S Prall (math 52% / reading 67%, grade B, #161 of 729 statewide, top 24%, 952 students, 76% FRL); Midwood High School (math 94% / reading 96%, grade A+, #83 of 1,100 statewide, top 8%, 4,062 students, 73% FRL).
• Market conditions: 92 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 64% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 480 units permitted in Richmond County in 2024 (22 in 5+ unit buildings).

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.
• 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 76 days — a 6% lower offer ($323k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 56% 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 $234,917 (31.7% 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 76 days. Have you received any prior offers? Is the seller open to a 32% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.68% ✗
• Cap rate: 3.78%
• Cash-on-cash: -8.96%
• DSCR: 0.60
• GRM: 12.2

CMA / ARV

• ARV (median comp): $706,798
• List price: $344,000
• Delta: -51.33%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
38 Disosway Pl	0.12mi	3/2.5 (+1)	1,008 (+12%)	20mo	$592,800	$588	47
785 Clove Rd	0.54mi	2/1.0	832 (-8%)	19mo	$629,000	$756	46
160 Alaska St	0.47mi	3/2.0 (+1)	1,008 (+12%)	10mo	$510,000	$506	40
49 Cornell St	0.73mi	3/1.0 (+1)	1,008 (+12%)	7mo	$550,000	$546	35
523 Pelton Ave	0.73mi	2/1.5	960 (+7%)	24mo	$525,000	$547	33
262 Utter Ave	0.72mi	3/1.5 (+1)	1,002 (+11%)	11mo	$695,000	$694	32
432 Pelton Ave	0.71mi	3/2.5 (+1)	1,035 (+15%)	6mo	$800,000	$773	26
43 Maine Ave	0.54mi	3/1.5 (+1)	1,032 (+15%)	21mo	$729,000	$706	26
35 Alaska St	0.68mi	3/3.0 (+1)	1,008 (+12%)	14mo	$540,000	$536	24
76 Drake Ave	0.68mi	2/2.0	1,028 (+14%)	22mo	$610,000	$593	22

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -32.1%
• Equity multiple: -0.05×
• Total profit: $-101,408
• Equity at exit: $51,292

10-year hold

• IRR: -36.7%
• Equity multiple: -0.52×
• Total profit: $-146,670
• Equity at exit: $29,743

Cash invested: $96,320 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 16 active · 7 under contract
• Months of supply: 8.0 mo (12%/mo absorbed)
• Median asking: $307,000 ($375/sqft)
• Median days on market: 98 d
• This list price: 56% of active listings are priced below it
• ARV vs active asking: +109.3% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 10310

• Active inventory: 92
• Price-to-rent: 12.2×

Monthly cashflow live

• Estimated rent: $2,349 high
• Mortgage (P&I): −$1,804
• Tax est. 1.5%: −$430 /mo · $5,160/yr
• Insurance: −$143
• HOA: −$198
• Vacancy / Maint / Mgmt: −$493
• Net cashflow: $-719

Break-even live

Break-even rent $3,260

Max offer price $239,894

Occupancy floor —

Sensitivity live

Price	-10% $-482	-5% $-601	+0% $-719	+5% $-838	+10% $-957
Rent	-10% $-905	-5% $-812	+0% $-719	+5% $-627	+10% $-534
Rate	-1.0pp $-546	-0.5pp $-632	base $-719	+0.5pp $-809	+1.0pp $-899

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: $86,000
• Closing costs: $10,320
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1288 Forest Ave Unit 1 Staten Island, NY	1.0	1.0	600	$1,950	$3.25	66d	1	0.53mi
1288 Forest Ave Unit 2 Staten Island, NY	3.0	1.0	1000	$3,000	$3.00	4d	1	0.53mi
1294 Forest Ave Staten Island, NY	2.0	1.0	800	$2,300	$2.88	43d	1	0.54mi
19 Tompkins Ct Staten Island, NY	3.0	1.0	1105	$3,300	$2.99	73d	1	0.83mi
270 Saint John Ave Staten Island, NY	2.0	1.0	700	$2,600	$3.71	10d	1	1.00mi
11 Broadway Apt 22 Bayonne, NJ	2.0	1.0	750	$2,100	$2.80	7d	1	1.25mi
5 Kelly Pkwy Bayonne, NJ	1.0	1.0	600	$1,875	$3.12	30d	1	1.26mi
15 Broadway #22 Bayonne, NJ	2.0	1.0	600	$1,900	$3.17	48d	1	1.26mi
38-40 Kelly Pkwy Bayonne, NJ	1.0	1.0	700	$1,750	$2.50	74d	1	1.33mi
42 Kelly Pkwy Unit 202 Bayonne, NJ	1.0	1.0	550	$1,650	$3.00	28d	1	1.34mi
46 Kelly Pkwy Unit 204 Bayonne, NJ	1.0	1.0	600	$1,699	$2.83	54d	1	1.35mi

Property features AI

Finance

• HOA & community: Part of Arcadia Gardens associationPets allowedMonthly association fee covering snow removal, sewer and exterior maintenance

Exterior

• Parking: No attached garageAssigned parkingOff-street parkingOn-street parking
• Utilities: 220-volt electric service
• Home design: Single-story propertyApproximate year built
• Construction: Brick construction
• Exterior features: Lot zoned R3A

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: One bedroom on the first floor
• Bathrooms: One full bathroom (first floor)
• Heating & cooling: Electric heatingOther heating systemCooling available (units)
• Interior features: Central air conditioning (units)Six total rooms

Listing history 35 events

1. 2026-07-14
   days on market $344,000 Active 76 DOM
2. 2026-07-14
   days on market $344,000 Active 75 DOM
3. 2026-07-13
   days on market $344,000 Active 74 DOM
4. 2026-07-11
   days on market $344,000 Active 73 DOM
5. 2026-07-10
   days on market $344,000 Active 72 DOM
6. 2026-07-09
   days on market $344,000 Active 71 DOM
7. 2026-07-07
   days on market $344,000 Active 69 DOM
8. 2026-07-06
   days on market $344,000 Active 68 DOM
9. 2026-07-05
   days on market $344,000 Active 66 DOM
10. 2026-07-03
    days on market $344,000 Active 65 DOM
11. 2026-07-02
    days on market $344,000 Active 64 DOM
12. 2026-07-01
    days on market $344,000 Active 63 DOM
13. 2026-06-30
    price $344,000 Active 62 DOM
14. 2026-06-30
    days on market $349,000 Active 62 DOM
15. 2026-06-29
    days on market $349,000 Active 61 DOM
16. 2026-06-28
    days on market $349,000 Active 60 DOM
17. 2026-06-27
    days on market $349,000 Active 59 DOM
18. 2026-06-26
    days on market $349,000 Active 58 DOM
19. 2026-06-24
    days on market $349,000 Active 56 DOM
20. 2026-06-22
    days on market $349,000 Active 54 DOM
21. 2026-06-21
    days on market $349,000 Active 53 DOM
22. 2026-06-18
    days on market $349,000 Active 50 DOM
23. 2026-06-17
    days on market $349,000 Active 49 DOM
24. 2026-06-16
    days on market $349,000 Active 48 DOM
25. 2026-06-15
    days on market $349,000 Active 47 DOM
26. 2026-06-13
    days on market $349,000 Active 45 DOM
27. 2026-06-10
    days on market $349,000 Active 41 DOM
28. 2026-06-08
    days on market $349,000 Active 40 DOM
29. 2026-06-08
    days on market $349,000 Active 39 DOM
30. 2026-06-04
    days on market $349,000 Active 36 DOM
31. 2026-06-03
    days on market $349,000 Active 35 DOM
32. 2026-06-01
    days on market $349,000 Active 33 DOM
33. 2026-05-31
    days on market $349,000 Active 32 DOM
34. 2026-05-13
    price $349,000
35. 2026-04-29
    listed $380,000 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 1/10 Low FEMA zone X (unshaded) · 0% 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 6/10 Major 56% 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: $28,190
• − Mortgage interest: −$19,269
• − Property taxes: −$5,160
• − Insurance: −$1,720
• − Repairs & maintenance: −$2,255
• − Management: −$2,255
• − HOA: −$2,376
• − Depreciation: −$10,007
• Taxable loss: −$14,853
• Est. tax savings @ 24.0%: +$3,565
• After-tax cash flow: $-5,069/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab Est. rehab $4,500–$13,500 screening

This well-maintained basement unit offers a comfortable and functional layout with good curb appeal. A kitchen and bathroom renovation would significantly increase its value.

Repairs flagged

• Minor kitchen cabinets — slight wear
• Minor bathroom fixtures — basic design

Value-add opportunities

• Both kitchen renovation — modernizing kitchen can increase both resale and rental value ↑
• Both bathroom renovation — updating bathroom can increase both resale and rental value ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

C Composite school gradezoned avg 61/100

Zoned Schools

Elementary Ps 19 Curtis School (The) F NY #1,577/2,108 Nat'l #23,081/41,679 Middle Is 27 Anning S Prall B NY #161/729 Nat'l #1,836/14,009 High Susan E Wagner High School A+ NY #288/1,100 Nat'l #497/17,239

Schools (NCES district)

No district data.

B Composite livability gradescore 75/100

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 · 482,784 people
• City population: 7,731,280
• Metro: New York-Newark-Jersey City, NY-NJ
• Population (ZIP): 25,824
• Household income: $106,118
• Rent vs Own: 43.5% rent · 56.5% own
• Severe rent burden: 13% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 41% Hispanic / Latino 32% Black 19% Two or more races 14% Asian 5%
• Hispanic origin (detail): Mexican 4% Puerto Rican 12% Dominican 3%
• Common ancestry: Romanian 4% Lithuanian 1% Portuguese 1%
• Foreign-born: 25% · Canada, Jamaica, China
• Languages at home: 66% English-only · Spanish 19% Other Indo-European 6% Arabic 3%

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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: ▼ -266.57%
• Current HPI: 360.2125
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

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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

Property features AI

Finance

• HOA & community: Part of Arcadia Gardens associationPets allowedMonthly association fee covering snow removal, sewer and exterior maintenance

Exterior

• Parking: No attached garageAssigned parkingOff-street parkingOn-street parking
• Utilities: 220-volt electric service
• Home design: Single-story propertyApproximate year built
• Construction: Brick construction
• Exterior features: Lot zoned R3A

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: One bedroom on the first floor
• Bathrooms: One full bathroom (first floor)
• Heating & cooling: Electric heatingOther heating systemCooling available (units)
• Interior features: Central air conditioning (units)Six total rooms

Price history

-8.2% since first listed

2 events — show timeline

• 2026-05-13 Price Changed $349,000 SIBORMLS
• 2026-04-29 Listed $380,000 SIBORMLS