2652 Cropsey Ave Unit 15C · New York, NY 11214

$429,000

2 bd · 1.0 ba · 1,000 sqft · Condo · 339 Days on market

Built 1965 ↓ 4% since listing

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Why this score? — see what drove the C- 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 +17.5/30.0
• ARV discount +7.5/15.0
• DSCR +5.5/10.0
• Schools +5.0/10.0
• 1% rule +4.7/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This Sunny 2-bedroom co-op offers you large rooms, privacy and tranquility 15 floors above the street. Located in prime Bath Beach section in Brooklyn, this large 2 bedroom is just minutes away to the Ocean and Coney Island. The view from this apartment is amazing, enjoy it from your large terrace that overlooks the ocean and the Bridge. The apartment is move in ready for its new owners to move in and decorate. Building amenities include laundry room, community room for parties and meetings, Security guard from night to early morning hours, intercom security system, onsite parking (new tenant priority waiting list), building surrounded by Playground and public parks. Additional monthly fee

Key facts

• Onsite parking
• Ocean view
• Large rooms

Tags

• LARGE ROOMS
• LARGE TERRACE
• OCEAN VIEW
• BUILDING AMENITIES
• INTERCOM SECURITY SYSTEM
• ONSITE PARKING

Property features AI

Finance

• Other: Flip tax applies
• Financial info: Financing available: Bank mortgage or cash
• HOA & community: Monthly maintenance common fee; Managed by First Service Residential; Pets allowed (restrictions - see agent); Handicap accessible; Co-op shares: 579

Exterior

• Parking: Parking wait-list
• Utilities: Electric; Gas; Heat; Sewer; Water
• Home design: Detached residential building; Unit on the 15th floor
• Construction: Building with multiple units (160 total)
• Exterior features: Balcony/deck (listed as part of the living room); Located on the 15th floor of the building

Interior

• Kitchen: Stove; Refrigerator
• Bedrooms: Two bedrooms on the first floor
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Heat; Wall A/C unit
• Interior features: Wall A/C unit; Elevator access; Terrace
• Laundry & utility: Laundry area

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $429k.

Deal economics

• At list price, monthly cash flow is $331 ($4k/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 $417k (2.8% below list).
• Recommended offer: $378k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.2% 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 (+5.9%/yr); 330 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $4,171/mo this rent would consume 76% of the median local household income ($66k/yr) (locally 6028% 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 $13k 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 339 days — a 12% lower offer ($378k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 69% 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 $377,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 339 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. 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?
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. 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.
9. 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.
10. 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: 0.97% ✗
• Cap rate: 7.22%
• Cash-on-cash: 3.30%
• DSCR: 1.15
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.87% rent growth · sell at horizon

5-year hold

• IRR: -7.9%
• Equity multiple: 0.70×
• Total profit: $-36,003
• Equity at exit: $63,965

10-year hold

• IRR: 5.0%
• Equity multiple: 1.42×
• Total profit: $49,956
• Equity at exit: $37,092

Cash invested: $120,120 (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 11214

• Rents YoY: 5.9%
• Active inventory: 330
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $4,171 high
• Mortgage (P&I): −$2,250
• Tax est. 1.5%: −$536 /mo · $6,435/yr
• Insurance: −$179
• HOA: −$0
• Vacancy / Maint / Mgmt: −$876
• Net cashflow: $331

Break-even live

Break-even rent $3,753

Max offer price $429,000

Occupancy floor 87%

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: $107,250
• Closing costs: $12,870
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2483 W 16th St Brooklyn, NY	1.0	1.0	800	$1,800	$2.25	21d	1	0.37mi
2286 Cropsey Ave Unit 6A Brooklyn, NY	2.0	2.0	889	$5,125	$5.76	24d	1	0.60mi
2286 Cropsey Ave Unit 13E Brooklyn, NY	2.0	2.0	948	$5,550	$5.85	19d	1	0.60mi
2286 Cropsey Ave Unit 7E Brooklyn, NY	2.0	2.0	948	$5,250	$5.54	19d	1	0.60mi
2286 Cropsey Ave Unit 9A Brooklyn, NY	2.0	2.0	889	$5,200	$5.85	19d	1	0.60mi
2286 Cropsey Ave Unit 8B Brooklyn, NY	2.0	2.0	889	$5,000	$5.62	19d	1	0.60mi
2286 Cropsey Ave Unit 18B Brooklyn, NY	2.0	2.0	889	$5,300	$5.96	19d	1	0.60mi
8642 26th Ave Unit 3 Brooklyn, NY	3.0	1.0	1100	$3,100	$2.82	15d	1	0.60mi
63 Bay 37th St Unit 1R Brooklyn, NY	2.0	1.0	900	$3,100	$3.44	24d	1	0.65mi
1515 Surf Ave Brooklyn, NY	1.0–2.0	1.0	706	$5,195	$7.35	2d	15	0.93mi
2957 Shell Rd Brooklyn, NY	3.0	2.0	1292	$5,550	$4.30	24d	1	0.97mi
2971 Shell Rd Unit 508 Brooklyn, NY	2.0	2.0	930	$4,099	$4.41	24d	1	0.97mi
2971 Shell Rd Unit 602 Brooklyn, NY	3.0	2.0	1301	$5,299	$4.07	24d	1	0.97mi
2971 Shell Rd Unit 612 Brooklyn, NY	2.0	2.0	907	$4,150	$4.58	24d	1	0.97mi
2971 Shell Rd Unit 720 Brooklyn, NY	2.0	2.0	920	$4,100	$4.46	24d	1	0.97mi
2971 Shell Rd Unit 406 Brooklyn, NY	2.0	2.0	920	$3,550	$3.86	24d	1	0.97mi
2971 Shell Rd Unit 711 Brooklyn, NY	2.0	2.0	907	$4,200	$4.63	24d	1	0.97mi
2971 Shell Rd Unit 704 Brooklyn, NY	2.0	1.0	826	$3,950	$4.78	24d	1	0.97mi
532 Neptune Ave Brooklyn, NY	1.0–3.0	1.0–2.0	948	$4,562	$4.81	8d	8	1.06mi
2321 81st St Unit 1 Brooklyn, NY	3.0	1.0	1199	$2,499	$2.08	17d	1	1.06mi
2538 E 2nd St Unit 2 Brooklyn, NY	3.0	1.0	1100	$2,600	$2.36	24d	1	1.21mi
3000 Ocean Pkwy Brooklyn, NY	2.0	2.0	1130	$3,775	$3.34	19d	2	1.37mi

HOA detail condo

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

Listing history 13 events

1. 2026-06-18
   days on market $429,000 Active 339 DOM
2. 2026-06-17
   days on market $429,000 Active 338 DOM
3. 2026-06-15
   days on market $429,000 Active 336 DOM
4. 2026-06-13
   days on market $429,000 Active 334 DOM
5. 2026-06-10
   days on market $429,000 Active 330 DOM
6. 2026-06-08
   days on market $429,000 Active 329 DOM
7. 2026-06-03
   days on market $429,000 Active 324 DOM
8. 2026-06-01
   days on market $429,000 Active 322 DOM
9. 2026-05-31
   days on market $429,000 Active 321 DOM
10. 2026-04-21
    price $429,000
11. 2025-12-20
    price $445,000
12. 2025-12-12
    price $429,000
13. 2025-07-14
    listed $445,000 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 4/10 Moderate FEMA zone X (shaded) · 21% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 69% 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: $50,056
• − Mortgage interest: −$24,031
• − Property taxes: −$6,435
• − Insurance: −$2,145
• − Repairs & maintenance: −$4,005
• − Management: −$4,005
• − Depreciation: −$12,480
• Taxable loss: −$3,043
• Est. tax savings @ 24.0%: +$730
• After-tax cash flow: $4,698/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): 89,397
• Household income: $65,895
• Rent vs Own: 65.4% rent · 34.6% own
• Severe rent burden: 6028.0

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 0.67)
• Race & ethnicity: White 40% Asian 38% Hispanic / Latino 17% Two or more races 6% Black 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3% Dominican 2%
• Common ancestry: Scotch-Irish 4% Subsaharan African 3% Romanian 2%
• Foreign-born: 56% · China, Canada, Vietnam
• Languages at home: 26% English-only · Chinese 28% Russian/Polish/Slavic 15% Spanish 13%

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: ▼ -184.55%
• Current HPI: 276.0804
• Rent YoY: ▲ 5.87%
• 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

-3.6% since first listed

4 events — show timeline

• 2026-04-21 Price Changed $429,000 BNYMLS
• 2025-12-20 Price Changed $445,000 BNYMLS
• 2025-12-12 Price Changed $429,000 BNYMLS
• 2025-07-14 Listed $445,000 BNYMLS