1200 Gravesend Neck Rd Unit 4E · New York, NY 11229

$319,000

1 bd · 1.0 ba · 900 sqft · Condo · 61 Days on market

↓ 3% since listing

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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
• Cash flow +7.3/30.0
• 1% rule +5.5/10.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• DSCR +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

OPEN HOUSE BY APPOINTMENT ONLY ! Bright and spacious south-facing one-bedroom co-op located in a well-maintained post-war building in the heart of Sheepshead Bay. Situated on the 4th floor of a six-story elevator building, this sun-filled residence offers a comfortable layout and excellent natural light throughout the day. The apartment features a generously sized living room, a windowed kitchen, and a windowed bathroom, creating a bright and airy atmosphere. Beautiful hardwood floors run throughout the home, complemented by ample closet space, including a large walk-in closet and an additional oversized shoe/storage closet. The bathroom has been updated with modern vanity and contemporar

Key facts

• Windowed kitchen
• Ample closet space
• Windowed bathroom

Tags

• WELL-MAINTAINED BUILDING
• WINDOWED KITCHEN
• WINDOWED BATHROOM
• HARDWOOD FLOORS
• AMPLE CLOSET SPACE
• LARGE WALK-IN CLOSET

Property features AI

Finance

• Other: Assessment/maintenance charge listed; Building flip tax applies
• Financial info: Financing considered: bank mortgage, cash, or exchange; Sub-lease permitted
• HOA & community: Monthly maintenance fee of $655; Management: Vintage Real Estate Services; Manager phone available; Pets allowed (cats only); Handicap accessible; Co-op shares

Exterior

• Parking: No parking
• Security: Secure lobby
• Utilities: Gas; Heat; Sewer; Water
• Home design: Residential property; Located on the 4th floor
• Construction: 114-unit building
• Exterior features: Located on East 13th Street (Brooklyn location)

Interior

• Kitchen: Stove; Refrigerator
• Bedrooms: One bedroom on the first floor
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Two AC units
• Interior features: Elevator; Laundry area; Secure lobby; Resident superintendent
• Laundry & utility: Card-operated laundry (building)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $319k.

Deal economics

• At list price, monthly cash flow is $-429 ($-5k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $319k).
• Recommended offer: $300k (6.0% below list) — sets the bar for market timing.
• Cap rate 4.7% 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; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $3,355/mo this rent would consume 57% 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 $10k 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 61 days — a 6% lower offer ($300k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 26% of rent.
• Climate carrying-cost: moderate 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 $299,860 (6.0% 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 61 days. Have you received any prior offers? Is the seller open to a 6% 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: 1.05% ✓
• Cap rate: 4.68%
• Cash-on-cash: -5.76%
• DSCR: 0.74
• GRM: 7.9

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: -18.2%
• Equity multiple: 0.32×
• Total profit: $-60,682
• Equity at exit: $47,564

10-year hold

• IRR: -0.6%
• Equity multiple: 0.95×
• Total profit: $-4,910
• Equity at exit: $27,581

Cash invested: $89,320 (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 →

ZIP-level market 11229

• Rents YoY: 15.8%
• Active inventory: 355
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $3,355 high
• Mortgage (P&I): −$1,673
• Tax est. 1.5%: −$399 /mo · $4,785/yr
• Insurance: −$133
• HOA est. from 1 same-building comp: −$875
• Vacancy / Maint / Mgmt: −$705
• Net cashflow: $-429

Break-even live

Break-even rent $3,898

Max offer price $256,952

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: $79,750
• Closing costs: $9,570
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3000 Emmons Ave Unit 5 Brooklyn, NY	2.0	2.0	840	$4,085	$4.86	24d	1	1.27mi
3000 Emmons Ave Unit 1 Brooklyn, NY	—	1.0	536	$3,273	$6.11	24d	1	1.27mi
2971 Shell Rd Unit 704 Brooklyn, NY	2.0	1.0	826	$3,950	$4.78	24d	1	1.32mi
2971 Shell Rd Unit 711 Brooklyn, NY	2.0	2.0	907	$4,200	$4.63	24d	1	1.32mi
2971 Shell Rd Unit 612 Brooklyn, NY	2.0	2.0	907	$4,150	$4.58	24d	1	1.32mi
2971 Shell Rd Unit 508 Brooklyn, NY	2.0	2.0	930	$4,099	$4.41	24d	1	1.32mi
2971 Shell Rd Unit 406 Brooklyn, NY	2.0	2.0	920	$3,550	$3.86	24d	1	1.32mi
2971 Shell Rd Unit 720 Brooklyn, NY	2.0	2.0	920	$4,100	$4.46	24d	1	1.32mi
532 Neptune Ave Brooklyn, NY	1.0–3.0	1.0–2.0	948	$3,400	$3.58	8d	8	1.33mi
3112 Emmons Ave Unit 203 Brooklyn, NY	1.0	1.0	734	$3,200	$4.36	24d	1	1.39mi
2483 W 16th St Brooklyn, NY	1.0	1.0	800	$1,800	$2.25	21d	1	1.45mi

HOA detail condo

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

Listing history 8 events

1. 2026-06-18
   days on market $319,000 Active 61 DOM
2. 2026-06-17
   days on market $319,000 Active 60 DOM
3. 2026-06-16
   days on market $319,000 Active 59 DOM
4. 2026-06-15
   days on market $319,000 Active 58 DOM
5. 2026-06-13
   statusdays on market $319,000 Active 56 DOM
6. 2026-05-05
   status Pending
7. 2026-03-13
   price $319,000
8. 2026-03-13
   listed $329,000 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 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 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 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,264
• − Mortgage interest: −$17,869
• − Property taxes: −$4,785
• − Insurance: −$1,595
• − Repairs & maintenance: −$3,221
• − Management: −$3,221
• − HOA: −$10,500
• − Depreciation: −$9,280
• Taxable loss: −$10,207
• Est. tax savings @ 24.0%: +$2,450
• After-tax cash flow: $-2,696/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

-3.0% since first listed

3 events — show timeline

• 2026-05-05 Pending — BNYMLS
• 2026-03-13 Price Changed $319,000 BNYMLS
• 2026-03-13 Listed $329,000 BNYMLS