175 3rd St · New York, NY 10306

$278,000

2 bd · 1.0 ba · 7,200 sqft · Townhouse public records · 38 Days on market

Built 1949 0.28 ac lot

---

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 +16.6/30.0
• ARV discount +7.5/15.0
• DSCR +5.1/10.0
• Schools +5.0/10.0
• 1% rule +4.5/10.0
• Livability +3.8/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

LOCATION LOCATION LOCATION!! THIS 2 BED APARTMENT IN THE HEART OF NEW DORP IS BEING SOLD AS IS. RENT IMMEDEITLY TO A FAMILY MEMBR HOA INCLUDES OUTSIDE MAITENANCE , SNOW REMOVAL, HEAT/HOT WATER, TAXES, BUILDING INSURANCE AND BUILT IN GARAGE IN REAR A RARE FIND IN STATEN ISLAND CALL FOR AN APPOINTMENT

Key facts

• Garage
• Built 1949
• Listed 38 days

Property features AI

Finance

• Other: Property condition listed as fair
• Financial info: No specific financial or investor income/expense details provided
• HOA & community: Community association: THE PARTNERES; Association allows pets; Association fees are paid monthly; Association covers taxes, snow removal, sewer, outside maintenance, and gas

Exterior

• Parking: Has garage; 1 garage space (garage is not attached)
• Security: No security details provided
• Utilities: 220-volt electric service; Municipal sewer (included in association services); Natural gas
• Home design: Apartment property; Single-story building; Brick construction; Built approximately (year not specified)
• Construction: Brick construction; Approximate year built; Building area total approximately 7,200
• Exterior features: Side lot; Lot dimensions approximately 120 x 100; Zoned R3X

Interior

• Kitchen: No specific kitchen appliance list provided
• Bedrooms: Apartment unit (number of bedrooms not specified)
• Flooring: No flooring details provided
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Forced air heating; Cooling provided by individual units
• Interior features: Individual cooling units; Natural gas forced-air heating
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $278k.

Deal economics

• At list price, monthly cash flow is $168 ($2k/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 $264k (4.9% below list).
• Recommended offer: $264k (4.9% below list) — sets the bar for 1% rule.
• Cap rate 7.0% 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 2 George L Egbert (math 40% / reading 65%, grade C+, #235 of 729 statewide, top 33%, 934 students, 74% FRL); Midwood High School (math 94% / reading 96%, grade A+, #83 of 1,100 statewide, top 8%, 4,062 students, 73% FRL).
• Market conditions: Rents rising (+1.2%/yr); 311 active listings in the ZIP; solid renter incomes; 480 units permitted in Richmond County in 2024 (22 in 5+ unit buildings).
• This rent runs 33% of the median local income ($97k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• 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 38 days — a 3% lower offer ($270k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 65% 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 $264,403 (4.9% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
2. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
7. 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.
8. 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.
9. 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: 0.95% ✗
• Cap rate: 7.02%
• Cash-on-cash: 2.58%
• DSCR: 1.11
• GRM: 8.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.22% rent growth · sell at horizon

5-year hold

• IRR: -14.2%
• Equity multiple: 0.50×
• Total profit: $-38,987
• Equity at exit: $41,451

10-year hold

• IRR: -8.6%
• Equity multiple: 0.51×
• Total profit: $-38,466
• Equity at exit: $24,036

Cash invested: $77,840 (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 10306

• Rents YoY: 1.2%
• Active inventory: 311
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $2,644 medium
• Mortgage (P&I): −$1,458
• Tax est. 1.5%: −$348 /mo · $4,170/yr
• Insurance: −$116
• HOA: −$0
• Vacancy / Maint / Mgmt: −$555
• Net cashflow: $168

Break-even live

Break-even rent $2,432

Max offer price $278,000

Occupancy floor 89%

Sensitivity live

Price	-10% $360	-5% $264	+0% $168	+5% $72	+10% $-25
Rent	-10% $-41	-5% $63	+0% $168	+5% $272	+10% $376
Rate	-1.0pp $308	-0.5pp $238	base $168	+0.5pp $96	+1.0pp $22

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: $69,500
• Closing costs: $8,340
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $278,000 Active 38 DOM
2. 2026-06-18
   days on market $278,000 Active 35 DOM
3. 2026-06-17
   days on market $278,000 Active 34 DOM
4. 2026-06-16
   days on market $278,000 Active 33 DOM
5. 2026-06-15
   days on market $278,000 Active 32 DOM
6. 2026-06-13
   days on market $278,000 Active 30 DOM
7. 2026-06-10
   days on market $278,000 Active 26 DOM
8. 2026-06-08
   days on market $278,000 Active 25 DOM
9. 2026-06-08
   days on market $278,000 Active 24 DOM
10. 2026-06-04
    days on market $278,000 Active 21 DOM
11. 2026-06-03
    days on market $278,000 Active 20 DOM
12. 2026-06-02
    days on market $278,000 Active 19 DOM
13. 2026-06-01
    days on market $278,000 Active 18 DOM
14. 2026-05-31
    days on market $278,000 Active 17 DOM
15. 2026-05-14
    listed $278,000 Active
16. 2026-05-12
    historical $278,000

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 65% 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: $31,728
• − Mortgage interest: −$15,572
• − Property taxes: −$4,170
• − Insurance: −$1,390
• − Repairs & maintenance: −$2,538
• − Management: −$2,538
• − Depreciation: −$8,087
• Taxable loss: −$2,568
• Est. tax savings @ 24.0%: +$616
• After-tax cash flow: $2,627/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): 57,428
• Household income: $96,866
• Rent vs Own: 30.7% rent · 69.3% own
• Severe rent burden: 2004.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 62% Hispanic / Latino 17% Asian 15% Two or more races 8% Black 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 10% Cuban 1%
• Common ancestry: Romanian 4% Scotch-Irish 3% Subsaharan African 3%
• Foreign-born: 25% · China, Canada
• Languages at home: 64% English-only · Chinese 10% Russian/Polish/Slavic 9% Spanish 7%

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: ▼ -708.23%
• Current HPI: 306.5101
• Rent YoY: ▲ 1.22%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-05-14 Listed $278,000 SIBORMLS
• 2026-05-12 Coming Soon $278,000 SIBORMLS

Property tax history

+4.9%/yr

Latest (2024): $46,331 · +10.1% YoY. Source: county tax records.