42 Ada Dr #31 · New York, NY 10314

$399,000

2 bd · 1.5 ba · 972 sqft · Condo public records · 49 Days on market

Built 1983

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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).

• Cash flow +12.4/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• DSCR +3.7/10.0
• Rent growth +3.5/5.0
• 1% rule +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Two-bedroom condo in Graniteville in excellent condition. The first floor features a kitchen with ample counter space, a combined living and dining area, a half bath, and a laundry room. Upstairs offers two bedrooms, a full bathroom, plenty of closet space, and pull-down attic access for additional storage. The unit includes one parking spot and a front outdoor area suitable for entertaining. Cash or hard money offers preferred due to limited financing options and utilities currently off.

Key facts

• Laundry room
• 1,360 sq ft lot
• Pool

Tags

• LAUNDRY ROOM
• PULL-DOWN ATTIC ACCESS

Property features AI

Finance

• HOA & community: Association managed by Gotham Property Management; Monthly association fee; Community amenities include clubhouse, pool, and pet-friendly policy; Association fee includes snow removal and clubhouse

Exterior

• Parking: Assigned parking; Off-street parking
• Utilities: 220 volt electric; Private sewer
• Home design: 2-story property; Vinyl siding; Property in excellent condition
• Construction: Vinyl siding construction; Approximate year built
• Exterior features: In-ground pool

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Bathrooms: 1 full bathroom; 1 half bathroom (2 total bathrooms)
• Heating & cooling: Natural gas forced air heating; Central air conditioning
• Interior features: Walk-in closets; Central air
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $399k.

Deal economics

• At list price, monthly cash flow is $-63 ($-753/yr) — negative.
• To cash-flow at today's rent, offer at most $388k (2.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $318k (20.2% below list).
• Recommended offer: $318k (20.2% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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: Staten Island School of Civic Leadership (math 47% / reading 67%, grade C+, #842 of 2,108 statewide, top 43%, 838 students, 76% FRL); Jhs 383 Philippa Schuyler (math 32% / reading 67%, grade C, #280 of 729 statewide, top 40%, 822 students, 85% 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 (+3.9%/yr); 490 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 480 units permitted in Richmond County in 2024 (22 in 5+ unit buildings).
• This rent runs 37% of the median local income ($105k/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 $3k of loan paydown is wiped out by about $12k 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 49 days — a 3% lower offer ($387k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $165k; list at $399k implies a 142% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 52% 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 $318,409 (20.2% 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 49 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
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: 0.80% ✗
• Cap rate: 6.10%
• Cash-on-cash: -0.67%
• DSCR: 0.97
• GRM: 10.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.93% rent growth · sell at horizon

5-year hold

• IRR: -16.5%
• Equity multiple: 0.41×
• Total profit: $-65,706
• Equity at exit: $59,492

10-year hold

• IRR: -6.8%
• Equity multiple: 0.55×
• Total profit: $-50,039
• Equity at exit: $34,498

Cash invested: $111,720 (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 10314

• Rents YoY: 3.9%
• Active inventory: 490
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $3,184 medium
• Mortgage (P&I): −$2,092
• Tax from tax record: −$320 /mo · $3,834/yr
• Insurance: −$166
• HOA: −$0
• Vacancy / Maint / Mgmt: −$669
• Net cashflow: $-63

Break-even live

Break-even rent $3,264

Max offer price $387,917

Occupancy floor 97%

Sensitivity live

Price	-10% $163	-5% $50	+0% $-63	+5% $-176	+10% $-289
Rent	-10% $-314	-5% $-189	+0% $-63	+5% $63	+10% $189
Rate	-1.0pp $138	-0.5pp $39	base $-63	+0.5pp $-166	+1.0pp $-271

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
527 Willowbrook Rd Staten Island, NY	3.0	2.0	1000	$4,000	$4.00	4d	1	0.80mi
1288 Forest Ave Unit 2 Staten Island, NY	3.0	1.0	1000	$3,200	$3.20	19d	1	1.29mi
1288 Forest Ave Unit 1 Staten Island, NY	1.0	1.0	600	$1,950	$3.25	19d	1	1.29mi

HOA detail condo

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

Listing history 17 events

1. 2026-06-21
   days on market $399,000 Active 49 DOM
2. 2026-06-18
   days on market $399,000 Active 46 DOM
3. 2026-06-17
   days on market $399,000 Active 45 DOM
4. 2026-06-16
   days on market $399,000 Active 44 DOM
5. 2026-06-15
   days on market $399,000 Active 43 DOM
6. 2026-06-13
   days on market $399,000 Active 41 DOM
7. 2026-06-10
   days on market $399,000 Active 37 DOM
8. 2026-06-08
   days on market $399,000 Active 36 DOM
9. 2026-06-08
   days on market $399,000 Active 35 DOM
10. 2026-06-04
    days on market $399,000 Active 32 DOM
11. 2026-06-03
    days on market $399,000 Active 31 DOM
12. 2026-06-01
    days on market $399,000 Active 29 DOM
13. 2026-05-31
    days on market $399,000 Active 28 DOM
14. 2026-05-21
    price $399,000
15. 2026-05-04
    listed $424,000 Active
16. 2003-01-22
    soldstatus $165,000
17. 1989-03-30
    soldstatus $147,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $3,834 · $320/mo
• Projected year-2 tax: $5,289 · $441/mo
• Expected delta: +$1,454/yr (+$121/mo · 37.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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 ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 52% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,209
• − Mortgage interest: −$22,350
• − Property taxes: −$3,834
• − Insurance: −$1,995
• − Repairs & maintenance: −$3,057
• − Management: −$3,057
• − Depreciation: −$11,607
• Taxable loss: −$7,691
• Est. tax savings @ 24.0%: +$1,846
• After-tax cash flow: $1,093/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): 93,915
• Household income: $104,613
• Rent vs Own: 27.1% rent · 72.9% own
• Severe rent burden: 2168.0

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 0.58)
• Race & ethnicity: White 60% Asian 19% Hispanic / Latino 15% Two or more races 8% Black 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 7% Dominican 1%
• Common ancestry: Romanian 4% Scotch-Irish 2% Subsaharan African 1%
• Foreign-born: 28% · Canada, China, South Korea
• Languages at home: 61% English-only · Spanish 9% Chinese 7% Other Indo-European 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: ▼ -553.73%
• Current HPI: 378.3872
• Rent YoY: ▲ 3.93%
• 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

+171.4% since first listed

4 events — show timeline

• 2026-05-21 Price Changed $399,000 SIBORMLS
• 2026-05-04 Listed $424,000 SIBORMLS
• 2003-01-22 Sold (Public Records) $165,000 Public Records
• 1989-03-30 Sold (Public Records) $147,000 Public Records

Property tax history

+6.3%/yr

Latest (2025): $3,834 · +0.8% YoY. Source: county tax records.