9031 Fort Hamilton Pkwy · New York, NY 11209

$224,000

1 bd · 1.0 ba · 61,176 sqft · Condo public records · 124 Days on market

Built 1927

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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
• 1% rule +5.6/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Cash flow +0.0/30.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Junior One-Bedroom in Bay Ridge Apartment 3C at 9031 Fort Hamilton Parkway is a 400 square ft junior one-bedroom in a classic, well-maintained prewar cooperative. The apartment offers strong fundamentals: good natural light, and a practical layout for everyday living. The home is move-in livable and provides a clear opportunity for modest updating over time, allowing the next owner to personalize finishes without major renovation. Apartment Highlights Living room/kitchen: approx. 13.3 ft 14 ft with flexible layout Windowed with cabinet-integrated refrigerator Windowed bathroom: approx. 8 ft 10 ft Bedroom: approx. 10.3 ft 11 ft with good closet potential Multiple windows for light and air

Key facts

• Multiple windows
• Practical layout
• Windowed bathroom

Tags

• GOOD NATURAL LIGHT
• PRACTICAL LAYOUT
• WINDOWED BATHROOM
• MULTIPLE WINDOWS
• TWO APARTMENT ENTRANCES
• MINUTES TO R TRAIN

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $224k.

Deal economics

• At list price, monthly cash flow is $-88k ($-1.06M/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $224k).
• Recommended offer: $197k (12.0% below list) — sets the bar for market timing.
• Cap rate -465.8% vs local median 2.6% in New York — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: Ps/Is 104 Fort Hamilton School (The) (math 62% / reading 77%, grade A-, #447 of 2,108 statewide, top 24%, 1,103 students, 63% FRL); Christa Mcauliffe School (The) /Is 187 (math 94% / reading 96%, grade A+, #3 of 729 statewide, top 0%, 928 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: Rents rising (+3.5%/yr); 320 active listings in the ZIP; solid renter incomes; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• This rent runs 30% of the median local income ($94k/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 $7k 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 124 days — a 12% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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: HOA is 3728% of rent; built in 1927 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 64% 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 $197,120 (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 124 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 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 1.06% ✓
• Cap rate: -465.85%
• Cash-on-cash: -1686.22%
• DSCR: -74.03
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.51% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: -88.19×
• Total profit: $-5,593,931
• Equity at exit: $33,399

10-year hold

• IRR: —
• Equity multiple: -188.30×
• Total profit: $-11,872,998
• Equity at exit: $19,367

Cash invested: $62,720 (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 11209

• Rents YoY: 3.5%
• Active inventory: 320
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,373 medium
• Mortgage (P&I): −$1,175
• Tax est. 1.5%: −$280 /mo · $3,360/yr
• Insurance: −$93
• HOA est. from 2 same-building comps: −$88,460
• Vacancy / Maint / Mgmt: −$498
• Net cashflow: $-88,133

Break-even live

Break-even rent $113,934

Max offer price —

Occupancy floor —

Sensitivity live

Price	-10% $-87,979	-5% $-88,056	+0% $-88,133	+5% $-88,211	+10% $-88,288
Rent	-10% $-88,321	-5% $-88,227	+0% $-88,133	+5% $-88,040	+10% $-87,946
Rate	-1.0pp $-88,021	-0.5pp $-88,076	base $-88,133	+0.5pp $-88,191	+1.0pp $-88,250

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: $56,000
• Closing costs: $6,720
• Reserves months: —
• Total cash needed: —

HOA detail condo

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

Listing history 15 events

1. 2026-06-21
   days on market $224,000 Active 124 DOM
2. 2026-06-18
   days on market $224,000 Active 121 DOM
3. 2026-06-17
   days on market $224,000 Active 120 DOM
4. 2026-06-15
   days on market $224,000 Active 118 DOM
5. 2026-06-13
   days on market $224,000 Active 116 DOM
6. 2026-06-10
   days on market $224,000 Active 112 DOM
7. 2026-06-08
   days on market $224,000 Active 111 DOM
8. 2026-06-03
   days on market $224,000 Active 106 DOM
9. 2026-06-01
   days on market $224,000 Active 104 DOM
10. 2026-05-31
    days on market $224,000 Active 103 DOM
11. 2026-02-17
    listed $224,000 Active
12. 2025-10-27
    historical $1,500
13. 2025-07-29
    listed $1,500
14. 2025-07-24
    historical $1,500
15. 2025-06-29
    listed $1,500

ⓘ 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 · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 64% 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: $28,476
• − Mortgage interest: −$12,547
• − Property taxes: −$3,360
• − Insurance: −$1,120
• − Repairs & maintenance: −$2,278
• − Management: −$2,278
• − HOA: −$1,061,520
• − Depreciation: −$6,516
• Taxable loss: −$1,061,144
• Est. tax savings @ 24.0%: +$254,675
• After-tax cash flow: $-802,926/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): 71,004
• Household income: $93,854
• Rent vs Own: 63.8% rent · 36.2% own
• Severe rent burden: 5101.0

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 0.58)
• Race & ethnicity: White 60% Hispanic / Latino 19% Asian 13% Two or more races 9% Black 3% Native American 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 6% Dominican 3%
• Common ancestry: Romanian 4% Scotch-Irish 3% Subsaharan African 2%
• Foreign-born: 32% · Canada, China, Vietnam
• Languages at home: 55% English-only · Spanish 12% Arabic 9% Other Indo-European 7%

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: ▼ -255.14%
• Current HPI: 253.4434
• Rent YoY: ▲ 3.51%
• 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

+14833.3% since first listed

5 events — show timeline

• 2026-02-17 Listed $224,000 ForSaleByOwner.com
• 2025-10-27 Rental Removed $1,500 PROPERTYWARE
• 2025-07-29 Listed for Rent $1,500 PROPERTYWARE
• 2025-07-24 Rental Removed $1,500 PROPERTYWARE
• 2025-06-29 Listed for Rent $1,500 PROPERTYWARE

Property tax history

+4.2%/yr

Latest (2025): $285,715 · -1.8% YoY. Source: county tax records.