240 Frost St Unit 2R · New York, NY 11211

$755,000

1 bd · 1.0 ba · 631 sqft · Condo public records · 37 Days on market

Built 2006 $321/mo HOA · 8% of rent

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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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +5.8/30.0
• Schools +5.0/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• 1% rule +0.6/10.0
• DSCR +0.2/10.0

Listing remarks

This 1 bedroom, 1 bathroom home is perched on the 2nd floor, facing the rear of this boutique condominium. The home includes an attached balcony, looking over treetops into a peaceful, quite enclave. From it's position the interior is always bathed in natural sunlight. The bedroom is oversized, easily fitting a king-size bed, bedside tables, and dresser, and then some. The living room boasts a kitchen that offers ample storage, stainless appliances, and a large island. The interior is modern, with a very simple clean finish perfect for anyone looking for a home to dress and make their own. The rooftop is tiled including a glass encased railing, and sports outstanding vistas over lush treeto

Key facts

• Attached balcony
• Large island
• Natural sunlight

Tags

• ATTACHED BALCONY
• NATURAL SUNLIGHT
• AMPLE STORAGE
• LARGE ISLAND
• TILED ROOFTOP
• GLASS ENCASED RAILING

Property features AI

Finance

• Other: Property is a multi-unit building with 8 total units
• Financial info: Building allows pets (call listing agent for details)
• HOA & community: Monthly association fee of $321

Exterior

• Home design: 4-story building; East-facing exposure
• Exterior features: Lot approximately 2,500 sq ft

Interior

• Kitchen: Dishwasher; Free-standing gas range; Gas oven; Microwave
• Bedrooms: 3 total rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: Has heating (Energy Star qualified equipment); Has cooling (Energy Star qualified equipment)
• Interior features: Energy Star qualified heating and cooling equipment; East exposures
• Laundry & utility: In-unit stacked washer/dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $755k.

Deal economics

• At list price, monthly cash flow is $-2k ($-18k/yr) — negative.
• To cash-flow at today's rent, offer at most $487k (35.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $420k (44.4% below list).
• Recommended offer: $420k (44.4% below list) — sets the bar for 1% rule.
• Cap rate 3.9% 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 (+6.1%/yr); 135 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $4,200/mo this rent would consume 47% of the median local household income ($108k/yr) (locally 5879% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $81k of equity ($5k loan paydown + $76k appreciation (10.0% local appreciation)).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$130k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($732k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y ago 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.
• Current owner paid $650k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% 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 $420,022 (44.4% 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 37 days. Have you received any prior offers? Is the seller open to a 44% 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. 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. 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?
9. 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.
10. 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.
11. 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: 0.56% ✗
• Cap rate: 3.88%
• Cash-on-cash: -8.61%
• DSCR: 0.62
• GRM: 15.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 6.06% rent growth · sell at horizon

5-year hold

• IRR: 18.9%
• Equity multiple: 2.55×
• Total profit: $327,793
• Equity at exit: $680,164

10-year hold

• IRR: 18.0%
• Equity multiple: 6.07×
• Total profit: $1,071,482
• Equity at exit: $1,466,799

Cash invested: $211,400 (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 11211

• Home prices YoY: 2.6%
• Rents YoY: 6.1%
• Active inventory: 135
• Price-to-rent: 15.0×

Monthly cashflow live

• Estimated rent: $4,200 medium
• Mortgage (P&I): −$3,959
• Tax from tax record: −$239 /mo · $2,872/yr
• Insurance: −$315
• HOA: −$321
• Vacancy / Maint / Mgmt: −$882
• Net cashflow: $-1,516

Break-even live

Break-even rent $6,119

Max offer price $487,190

Occupancy floor —

Sensitivity live

Price	-10% $-1,089	-5% $-1,302	+0% $-1,516	+5% $-1,730	+10% $-1,943
Rent	-10% $-1,848	-5% $-1,682	+0% $-1,516	+5% $-1,350	+10% $-1,184
Rate	-1.0pp $-1,136	-0.5pp $-1,324	base $-1,516	+0.5pp $-1,712	+1.0pp $-1,911

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: $188,750
• Closing costs: $22,650
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
285 Kingsland Ave #2078 Brooklyn, NY	1.0–2.0	1.0–2.0	725	$4,240	$5.85	25d	2	0.58mi
250 Union Ave #2119 Brooklyn, NY	1.0–2.0	1.0	590	$3,500	$5.93	25d	2	0.86mi
275 S 5th St #1698 Brooklyn, NY	1.0	1.0	450	$4,860	$10.80	25d	2	1.07mi
187 Kent Ave #1730 Brooklyn, NY	1.0	1.0	500	$5,750	$11.50	6d	1	1.21mi

HOA detail condo

• Monthly dues: $321 · $3,852/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-18
   days on market $755,000 Active 37 DOM
2. 2026-06-17
   days on market $755,000 Active 36 DOM
3. 2026-06-16
   days on market $755,000 Active 35 DOM
4. 2026-06-15
   days on market $755,000 Active 34 DOM
5. 2026-06-13
   days on market $755,000 Active 32 DOM
6. 2026-06-10
   days on market $755,000 Active 28 DOM
7. 2026-06-08
   days on market $755,000 Active 27 DOM
8. 2026-06-08
   days on market $755,000 Active 26 DOM
9. 2026-06-04
   days on market $755,000 Active 23 DOM
10. 2026-06-03
    days on market $755,000 Active 22 DOM
11. 2026-06-02
    days on market $755,000 Active 21 DOM
12. 2026-06-01
    days on market $755,000 Active 20 DOM
13. 2026-05-31
    days on market $755,000 Active 19 DOM
14. 2026-05-12
    listed $755,000 Active
15. 2017-03-08
    soldstatus $650,000
16. 2015-09-22
    listed $739,000
17. 2015-09-22
    listed $739,000

ⓘ 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: $2,872 · $239/mo
• Projected year-2 tax: $7,816 · $651/mo
• Expected delta: +$4,944/yr (+$412/mo · 172.2%)

ⓘ 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 6/10 Major 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $50,403
• − Mortgage interest: −$42,292
• − Property taxes: −$2,872
• − Insurance: −$3,775
• − Repairs & maintenance: −$4,032
• − Management: −$4,032
• − HOA: −$3,852
• − Depreciation: −$21,964
• Taxable loss: −$32,416
• Est. tax savings @ 24.0%: +$7,780
• After-tax cash flow: $-10,412/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): 65,314
• Household income: $107,506
• Rent vs Own: 82.8% rent · 17.2% own
• Severe rent burden: 5879.0

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 59% Hispanic / Latino 26% Two or more races 9% Asian 7% Black 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 10% Dominican 6%
• Common ancestry: Italian 4% Romanian 3% Lithuanian 2%
• Foreign-born: 23% · Canada, China, Jamaica
• Languages at home: 50% English-only · Spanish 21% German/W. Germanic 17% Other Indo-European 3%

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: ▲ 14.72%
• Current HPI: 588.2538
• Rent YoY: ▲ 6.06%
• 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

+2.2% since first listed

4 events — show timeline

• 2026-05-12 Listed $755,000 RLS at REBNY
• 2017-03-08 Sold (Public Records) $650,000 Public Records
• 2015-09-22 Listed $739,000 RLS at REBNY
• 2015-09-22 Listed $739,000 RLS at REBNY

Property tax history

+15.0%/yr

Latest (2024): $2,872 · +97.2% YoY. Source: county tax records.