3105 Avenue V Unit 2E · New York, NY 11229

$255,000

2 bd · 1.0 ba · 950 sqft · Condo · 219 Days on market

Built 1952

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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).

• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Cash flow +6.1/30.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• DSCR +0.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Avenue V apartment #2E!! This beautiful 2-bedroom unit is ideally located close to shopping, eats, public transportation, and the Sheepshead Bay waterfront! This building is super clean and well maintained with brand new intercom system, a laundry room in the basement and nice outdoor seating area that is quiet and serene! The apartment itself is updated and in mint condition. There is a large living room, dining area, modern eat-in kitchen with stainless steel appliances including stove, microwave, & fridge plus the kitchen has a nice window! There are two big bedrooms and a modern ceramic tile bath with window! Apartment has a very nice layout (see floor plan) and also features hardwood floors throughout and 4 closets. Very economical... monthly maintenance includes real estate taxes, gas, heat, water & even the electricity! Building also has a card operated laundry room plus huge recreational room downstairs with ping pong table, library, hang out area and more. Subject to co-op board approval. Purchaser must submit pre-application before signing a legal contract of sale and must provide proof of income, proof of assets and pre-qualification letter if seeking a mortgage. Minimum down payment of 20% required by co-op. No subletting. Sorry, no pets.

Key facts

• Built in closets
• Tile flooring
• Hardwood floors

Tags

• MODERN EAT-IN KITCHEN
• TILE FLOORING
• STAINLESS STEEL APPLIANCES
• BUILT IN CLOSETS
• HARDWOOD FLOORS
• CARD OPERATED LAUNDRY ROOM

Property features AI

Finance

• Other: Building contains 144 total units; Co-op shares listed as 101.00
• Financial info: Financing options include bank mortgage, cash, or exchange (20% down payment typically required); Flip tax of 7% applies
• HOA & community: Monthly maintenance/association fee (maintenance common fee); Managed by First Service Residential; Pets are not allowed; Handicap access available

Exterior

• Utilities: Electric service; Gas service; Heat; Water
• Home design: Detached building; Residential property; Located on the 2nd floor
• Exterior features: Building has bike rooms; Card-operated laundry; Recreational room; Resident superintendent; Storage rooms

Interior

• Kitchen: Refrigerator; Stove
• Bedrooms: Two bedrooms on the first floor
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Heat; Two AC units
• Interior features: Refrigerator; Stove; Two AC units

🏢 Co-op / cooperative unit. The $255,000 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 $255k.

Deal economics

• At list price, monthly cash flow is $-547 ($-7k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $255k).
• Recommended offer: $224k (12.0% below list) — sets the bar for market timing.
• Cap rate 4.0% 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.
• Market conditions: Rents rising fast (+15.8%/yr); 355 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $3,110/mo this rent would consume 53% of the median local household income ($71k/yr) (locally 4771% 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 219 days — a 12% lower offer ($224k) is reasonable based on typical stale-listing flexibility.
• 3 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

• Watch-outs: flood insurance adds $66/mo; HOA is 38% of rent; built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 72% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $224,400 (12.0% 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 219 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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?
11. 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?
12. 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.
13. 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.
14. 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: 1.22% ✓
• Cap rate: 4.03%
• Cash-on-cash: -8.08%
• DSCR: 0.64
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -22.3%
• Equity multiple: 0.17×
• Total profit: $-58,942
• Equity at exit: $38,021

10-year hold

• IRR: -2.8%
• Equity multiple: 0.75×
• Total profit: $-18,118
• Equity at exit: $22,048

Cash invested: $71,400 (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 11229

• Rents YoY: 15.8%
• Active inventory: 355
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $3,110 medium
• Mortgage (P&I): −$1,337
• Tax est. 1.5%: −$319 /mo · $3,825/yr
• Insurance: −$106
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA est. from 2 same-building comps: −$1,176
• Vacancy / Maint / Mgmt: −$653
• Net cashflow: $-547

Break-even live

Break-even rent $3,803

Max offer price $175,778

Occupancy floor —

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: $63,750
• Closing costs: $7,650
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3112 Emmons Ave Unit 203 Brooklyn, NY	1.0	1.0	734	$3,200	$4.36	24d	1	1.12mi
3000 Emmons Ave Unit 5 Brooklyn, NY	2.0	2.0	840	$4,085	$4.86	24d	1	1.16mi

HOA detail condo

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

Listing history 21 events

1. 2026-06-18
   days on market $255,000 Active 219 DOM
2. 2026-06-17
   days on market $255,000 Active 218 DOM
3. 2026-06-15
   days on market $255,000 Active 216 DOM
4. 2026-06-13
   days on market $255,000 Active 214 DOM
5. 2026-06-10
   days on market $255,000 Active 210 DOM
6. 2026-06-08
   days on market $255,000 Active 209 DOM
7. 2026-06-04
   days on market $255,000 Active 205 DOM
8. 2026-06-03
   days on market $255,000 Active 204 DOM
9. 2026-06-01
   days on market $255,000 Active 202 DOM
10. 2026-05-31
    days on market $255,000 Active 201 DOM
11. 2026-04-20
    price $255,000
12. 2026-02-05
    price $260,000
13. 2025-11-11
    listed $265,000 Active
14. 2023-01-10
    soldstatus $230,000 Sold 1289-char remark

    Show marketing remark (1289 chars)

    Welcome to Avenue V apartment #2E!! This beautiful 2-bedroom unit is ideally located close to shopping, eats, public transportation, and the Sheepshead Bay waterfront! This building is super clean and well maintained with brand new intercom system, a laundry room in the basement and nice outdoor seating area that is quiet and serene! The apartment itself is updated and in mint condition. There is a large living room, dining area, modern eat-in kitchen with stainless steel appliances including stove, microwave, & fridge plus the kitchen has a nice window! There are two big bedrooms and a modern ceramic tile bath with window! Apartment has a very nice layout (see floor plan) and also features hardwood floors throughout and 4 closets. Very economical... monthly maintenance includes real estate taxes, gas, heat, water & even the electricity! Building also has a card operated laundry room plus huge recreational room downstairs with ping pong table, library, hang out area and more. Subject to co-op board approval. Purchaser must submit pre-application before signing a legal contract of sale and must provide proof of income, proof of assets and pre-qualification letter if seeking a mortgage. Minimum down payment of 20% required by co-op. No subletting. Sorry, no pets.

15. 2022-11-01
    status Pending 1289-char remark

    Show marketing remark (1289 chars)

    Welcome to Avenue V apartment #2E!! This beautiful 2-bedroom unit is ideally located close to shopping, eats, public transportation, and the Sheepshead Bay waterfront! This building is super clean and well maintained with brand new intercom system, a laundry room in the basement and nice outdoor seating area that is quiet and serene! The apartment itself is updated and in mint condition. There is a large living room, dining area, modern eat-in kitchen with stainless steel appliances including stove, microwave, & fridge plus the kitchen has a nice window! There are two big bedrooms and a modern ceramic tile bath with window! Apartment has a very nice layout (see floor plan) and also features hardwood floors throughout and 4 closets. Very economical... monthly maintenance includes real estate taxes, gas, heat, water & even the electricity! Building also has a card operated laundry room plus huge recreational room downstairs with ping pong table, library, hang out area and more. Subject to co-op board approval. Purchaser must submit pre-application before signing a legal contract of sale and must provide proof of income, proof of assets and pre-qualification letter if seeking a mortgage. Minimum down payment of 20% required by co-op. No subletting. Sorry, no pets.

16. 2022-10-15
    listed $239,000 Active 1289-char remark

    Show marketing remark (1289 chars)

    Welcome to Avenue V apartment #2E!! This beautiful 2-bedroom unit is ideally located close to shopping, eats, public transportation, and the Sheepshead Bay waterfront! This building is super clean and well maintained with brand new intercom system, a laundry room in the basement and nice outdoor seating area that is quiet and serene! The apartment itself is updated and in mint condition. There is a large living room, dining area, modern eat-in kitchen with stainless steel appliances including stove, microwave, & fridge plus the kitchen has a nice window! There are two big bedrooms and a modern ceramic tile bath with window! Apartment has a very nice layout (see floor plan) and also features hardwood floors throughout and 4 closets. Very economical... monthly maintenance includes real estate taxes, gas, heat, water & even the electricity! Building also has a card operated laundry room plus huge recreational room downstairs with ping pong table, library, hang out area and more. Subject to co-op board approval. Purchaser must submit pre-application before signing a legal contract of sale and must provide proof of income, proof of assets and pre-qualification letter if seeking a mortgage. Minimum down payment of 20% required by co-op. No subletting. Sorry, no pets.

17. 2020-04-15
    soldstatus $188,000 Sold 617-char remark

    Show marketing remark (617 chars)

    BEAUTIFUL 2 BEDROOM CO-OP. NEWLY RENOVATED! SPACIOUS LIVING ROOM AND DINETTE AREA. EXTRA LARGE CUSTOM EAT-IN KITCHEN W/ SS APPLIANCES. IMPORTED ITALIAN WALLPAPER AND WINDOW TREATMENTS. NEWLY TILED BATH. PLENTY OF CLOSETS! WINDOWS IN EVERY ROOM MAKES FOR AN EXTRA BRIGHT & SUNNY APARTMENT! OWNER WILLING TO LEAVE FURNITURE AND WINDOW TREATMENTS. MUST SEE! VIDEO SURVEILLANCE & 24 HR SECURITY. STORAGE BIN, LAUNDRY ROOM, RECREATIONAL ROOM, PARTY ROOM AND STORAGE ROOM FOR BICYCLES. PAY A SMALL FEE AND GAIN LIFETIME ACCESS TO A NEWLY RENOVATED GYM IN NEIGHBORING BUILDING. ALL UTILITIES INCLUDED IN MAINTENANCE.

18. 2016-03-22
    historical 617-char remark

    Show marketing remark (617 chars)

    BEAUTIFUL 2 BEDROOM CO-OP. NEWLY RENOVATED! SPACIOUS LIVING ROOM AND DINETTE AREA. EXTRA LARGE CUSTOM EAT-IN KITCHEN W/ SS APPLIANCES. IMPORTED ITALIAN WALLPAPER AND WINDOW TREATMENTS. NEWLY TILED BATH. PLENTY OF CLOSETS! WINDOWS IN EVERY ROOM MAKES FOR AN EXTRA BRIGHT & SUNNY APARTMENT! OWNER WILLING TO LEAVE FURNITURE AND WINDOW TREATMENTS. MUST SEE! VIDEO SURVEILLANCE & 24 HR SECURITY. STORAGE BIN, LAUNDRY ROOM, RECREATIONAL ROOM, PARTY ROOM AND STORAGE ROOM FOR BICYCLES. PAY A SMALL FEE AND GAIN LIFETIME ACCESS TO A NEWLY RENOVATED GYM IN NEIGHBORING BUILDING. ALL UTILITIES INCLUDED IN MAINTENANCE.

19. 2015-12-24
    status Pending 617-char remark

    Show marketing remark (617 chars)

    BEAUTIFUL 2 BEDROOM CO-OP. NEWLY RENOVATED! SPACIOUS LIVING ROOM AND DINETTE AREA. EXTRA LARGE CUSTOM EAT-IN KITCHEN W/ SS APPLIANCES. IMPORTED ITALIAN WALLPAPER AND WINDOW TREATMENTS. NEWLY TILED BATH. PLENTY OF CLOSETS! WINDOWS IN EVERY ROOM MAKES FOR AN EXTRA BRIGHT & SUNNY APARTMENT! OWNER WILLING TO LEAVE FURNITURE AND WINDOW TREATMENTS. MUST SEE! VIDEO SURVEILLANCE & 24 HR SECURITY. STORAGE BIN, LAUNDRY ROOM, RECREATIONAL ROOM, PARTY ROOM AND STORAGE ROOM FOR BICYCLES. PAY A SMALL FEE AND GAIN LIFETIME ACCESS TO A NEWLY RENOVATED GYM IN NEIGHBORING BUILDING. ALL UTILITIES INCLUDED IN MAINTENANCE.

20. 2015-11-10
    price $198,000 617-char remark

    Show marketing remark (617 chars)

    BEAUTIFUL 2 BEDROOM CO-OP. NEWLY RENOVATED! SPACIOUS LIVING ROOM AND DINETTE AREA. EXTRA LARGE CUSTOM EAT-IN KITCHEN W/ SS APPLIANCES. IMPORTED ITALIAN WALLPAPER AND WINDOW TREATMENTS. NEWLY TILED BATH. PLENTY OF CLOSETS! WINDOWS IN EVERY ROOM MAKES FOR AN EXTRA BRIGHT & SUNNY APARTMENT! OWNER WILLING TO LEAVE FURNITURE AND WINDOW TREATMENTS. MUST SEE! VIDEO SURVEILLANCE & 24 HR SECURITY. STORAGE BIN, LAUNDRY ROOM, RECREATIONAL ROOM, PARTY ROOM AND STORAGE ROOM FOR BICYCLES. PAY A SMALL FEE AND GAIN LIFETIME ACCESS TO A NEWLY RENOVATED GYM IN NEIGHBORING BUILDING. ALL UTILITIES INCLUDED IN MAINTENANCE.

21. 2015-07-17
    listed $199,000 Active 617-char remark

    Show marketing remark (617 chars)

    BEAUTIFUL 2 BEDROOM CO-OP. NEWLY RENOVATED! SPACIOUS LIVING ROOM AND DINETTE AREA. EXTRA LARGE CUSTOM EAT-IN KITCHEN W/ SS APPLIANCES. IMPORTED ITALIAN WALLPAPER AND WINDOW TREATMENTS. NEWLY TILED BATH. PLENTY OF CLOSETS! WINDOWS IN EVERY ROOM MAKES FOR AN EXTRA BRIGHT & SUNNY APARTMENT! OWNER WILLING TO LEAVE FURNITURE AND WINDOW TREATMENTS. MUST SEE! VIDEO SURVEILLANCE & 24 HR SECURITY. STORAGE BIN, LAUNDRY ROOM, RECREATIONAL ROOM, PARTY ROOM AND STORAGE ROOM FOR BICYCLES. PAY A SMALL FEE AND GAIN LIFETIME ACCESS TO A NEWLY RENOVATED GYM IN NEIGHBORING BUILDING. ALL UTILITIES INCLUDED IN MAINTENANCE.

ⓘ 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 (unshaded) · 60% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 72% 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: $37,325
• − Mortgage interest: −$14,284
• − Property taxes: −$3,825
• − Insurance: −$2,072
• − Repairs & maintenance: −$2,986
• − Management: −$2,986
• − HOA: −$14,112
• − Depreciation: −$7,418
• Taxable loss: −$10,359
• Est. tax savings @ 24.0%: +$2,486
• After-tax cash flow: $-4,084/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): 78,377
• Household income: $70,603
• Rent vs Own: 53.1% rent · 46.9% own
• Severe rent burden: 4771.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 59% Asian 22% Hispanic / Latino 9% Black 6% Two or more races 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Scotch-Irish 6% Subsaharan African 6% Romanian 1%
• Foreign-born: 47% · China, Canada, Vietnam
• Languages at home: 40% English-only · Russian/Polish/Slavic 22% Chinese 16% Spanish 6%

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: ▼ -761.52%
• Current HPI: 361.7011
• Rent YoY: ▲ 15.81%
• 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

+28.1% since first listed

11 events — show timeline

• 2026-04-20 Price Changed $255,000 BNYMLS
• 2026-02-05 Price Changed $260,000 BNYMLS
• 2025-11-11 Listed $265,000 BNYMLS
• 2023-01-10 Sold (MLS) $230,000 BNYMLS
• 2022-11-01 Pending — BNYMLS
• 2022-10-15 Listed $239,000 BNYMLS
• 2020-04-15 Sold (MLS) $188,000 BNYMLS
• 2016-03-22 Delisted — BNYMLS
• 2015-12-24 Pending — BNYMLS
• 2015-11-10 Price Changed $198,000 BNYMLS
• 2015-07-17 Listed $199,000 BNYMLS