2121 Shore Pkwy Unit 7L · New York, NY 11214

$385,000

1 bd · 1.0 ba · 821 sqft · Condo public records · 69 Days on market

Built 1963 ↓ 36% 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).

• Cash flow +13.4/30.0
• ARV discount +7.5/15.0
• 1% rule +5.1/10.0
• Schools +5.0/10.0
• DSCR +4.1/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Large 1 bedroom 1 bath condo with 787 sq/ft living space located in Bath Beach. The apartment is on the top floor of the building, which means brighter, quiet and better views!! Walking distance to both local and express buses to Manhattan (X28 and X38), D train station, Belt Parkway, schools, and shopping. Description: hardwood floor under all carpet, formal living room with balcony, kitchen/dining combo, full bath, huge 1 bedroom with closets. Monthly common charges of 522 includes gas, heat, hot and cold water, snow and garbage removal, as well as maintenance of common areas and building insurance. The building features two new elevators, a live-in superintendent, security cameras, and a 24-hour laundry room on the ground level. The property tax is 4,548/year. Make your appointment today!!

Key facts

• New elevators
• Formal living room
• Kitchen dining combo

Tags

• TOP FLOOR
• HARDWOOD FLOOR UNDER CARPET
• FORMAL LIVING ROOM
• KITCHEN DINING COMBO
• NEW ELEVATORS
• LIVE IN SUPERINTENDENT

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $385k.

Deal economics

• At list price, monthly cash flow is $-56 ($-676/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $385k).
• Recommended offer: $362k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.3% 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); 334 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $3,907/mo this rent would consume 71% 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 $12k 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 69 days — a 6% lower offer ($362k) is reasonable based on typical stale-listing flexibility.
• 2 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.
• Current owner paid $155k; list at $385k implies a 148% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; major wind risk, 69% 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 $361,900 (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 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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?
11. 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?
12. 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.
13. 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.
14. 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: 1.01% ✓
• Cap rate: 6.32%
• Cash-on-cash: 0.11%
• DSCR: 1.01
• GRM: 8.2

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: -13.5%
• Equity multiple: 0.50×
• Total profit: $-54,012
• Equity at exit: $57,405

10-year hold

• IRR: 0.0%
• Equity multiple: 1.00×
• Total profit: $313
• Equity at exit: $33,288

Cash invested: $107,800 (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: 334
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $3,907 high
• Mortgage (P&I): −$2,019
• Tax from tax record: −$375 /mo · $4,504/yr
• Insurance: −$160
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA est. from 3 same-building comps: −$522
• Vacancy / Maint / Mgmt: −$821
• Net cashflow: $-56

Break-even live

Break-even rent $3,979

Max offer price $375,049

Occupancy floor 96%

Sensitivity live

Price	-10% $162	-5% $53	+0% $-56	+5% $-165	+10% $-274
Rent	-10% $-365	-5% $-211	+0% $-56	+5% $98	+10% $252
Rate	-1.0pp $138	-0.5pp $42	base $-56	+0.5pp $-156	+1.0pp $-258

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: $96,250
• Closing costs: $11,550
• Reserves months: —
• Total cash needed: —

Rent comps 17 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	22d	1	0.22mi
1515 Surf Ave Brooklyn, NY	1.0–2.0	1.0	706	$3,220	$4.56	0d	14	0.74mi
2971 Shell Rd Unit 704 Brooklyn, NY	2.0	1.0	826	$3,950	$4.78	26d	1	0.76mi
2971 Shell Rd Unit 406 Brooklyn, NY	2.0	2.0	920	$3,550	$3.86	26d	1	0.76mi
2971 Shell Rd Unit 720 Brooklyn, NY	2.0	2.0	920	$4,100	$4.46	26d	1	0.76mi
2971 Shell Rd Unit 508 Brooklyn, NY	2.0	2.0	930	$4,099	$4.41	26d	1	0.76mi
2971 Shell Rd Unit 612 Brooklyn, NY	2.0	2.0	907	$4,150	$4.58	26d	1	0.76mi
2971 Shell Rd Unit 711 Brooklyn, NY	2.0	2.0	907	$4,200	$4.63	26d	1	0.76mi
63 Bay 37th St Unit 1R Brooklyn, NY	2.0	1.0	900	$3,100	$3.44	26d	1	0.79mi
2286 Cropsey Ave Unit 18B Brooklyn, NY	2.0	2.0	889	$5,300	$5.96	20d	1	0.80mi
2286 Cropsey Ave Unit 13E Brooklyn, NY	2.0	2.0	948	$5,550	$5.85	20d	1	0.80mi
2286 Cropsey Ave Unit 6A Brooklyn, NY	2.0	2.0	889	$5,125	$5.76	26d	1	0.80mi
2286 Cropsey Ave Unit 19C Brooklyn, NY	1.0	1.0	544	$3,600	$6.62	20d	1	0.80mi
2286 Cropsey Ave Unit 7E Brooklyn, NY	2.0	2.0	948	$5,250	$5.54	20d	1	0.80mi
2286 Cropsey Ave Unit 9A Brooklyn, NY	2.0	2.0	889	$5,200	$5.85	20d	1	0.80mi
2286 Cropsey Ave Unit 8B Brooklyn, NY	2.0	2.0	889	$5,000	$5.62	20d	1	0.80mi
532 Neptune Ave Brooklyn, NY	1.0–3.0	1.0–2.0	948	$3,375	$3.56	0d	8	0.85mi

HOA detail condo

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

Listing history 9 events

1. 2026-02-26
   status Pending

   Show marketing remark (803 chars)

   Large 1 bedroom 1 bath condo with 787 sq/ft living space located in Bath Beach. The apartment is on the top floor of the building, which means brighter, quiet and better views!! Walking distance to both local and express buses to Manhattan (X28 and X38), D train station, Belt Parkway, schools, and shopping. Description: hardwood floor under all carpet, formal living room with balcony, kitchen/dining combo, full bath, huge 1 bedroom with closets. Monthly common charges of 522 includes gas, heat, hot and cold water, snow and garbage removal, as well as maintenance of common areas and building insurance. The building features two new elevators, a live-in superintendent, security cameras, and a 24-hour laundry room on the ground level. The property tax is 4,548/year. Make your appointment today!!

2. 2026-02-26
   status Pending 803-char remark

   Show marketing remark (803 chars)

   Large 1 bedroom 1 bath condo with 787 sq/ft living space located in Bath Beach. The apartment is on the top floor of the building, which means brighter, quiet and better views!! Walking distance to both local and express buses to Manhattan (X28 and X38), D train station, Belt Parkway, schools, and shopping. Description: hardwood floor under all carpet, formal living room with balcony, kitchen/dining combo, full bath, huge 1 bedroom with closets. Monthly common charges of 522 includes gas, heat, hot and cold water, snow and garbage removal, as well as maintenance of common areas and building insurance. The building features two new elevators, a live-in superintendent, security cameras, and a 24-hour laundry room on the ground level. The property tax is 4,548/year. Make your appointment today!!

3. 2025-12-19
   listed $385,000 Active
4. 2025-10-21
   price $385,000 803-char remark

   Show marketing remark (803 chars)

   Large 1 bedroom 1 bath condo with 787 sq/ft living space located in Bath Beach. The apartment is on the top floor of the building, which means brighter, quiet and better views!! Walking distance to both local and express buses to Manhattan (X28 and X38), D train station, Belt Parkway, schools, and shopping. Description: hardwood floor under all carpet, formal living room with balcony, kitchen/dining combo, full bath, huge 1 bedroom with closets. Monthly common charges of 522 includes gas, heat, hot and cold water, snow and garbage removal, as well as maintenance of common areas and building insurance. The building features two new elevators, a live-in superintendent, security cameras, and a 24-hour laundry room on the ground level. The property tax is 4,548/year. Make your appointment today!!

5. 2025-08-18
   listed $399,000 Active 803-char remark

   Show marketing remark (803 chars)

   Large 1 bedroom 1 bath condo with 787 sq/ft living space located in Bath Beach. The apartment is on the top floor of the building, which means brighter, quiet and better views!! Walking distance to both local and express buses to Manhattan (X28 and X38), D train station, Belt Parkway, schools, and shopping. Description: hardwood floor under all carpet, formal living room with balcony, kitchen/dining combo, full bath, huge 1 bedroom with closets. Monthly common charges of 522 includes gas, heat, hot and cold water, snow and garbage removal, as well as maintenance of common areas and building insurance. The building features two new elevators, a live-in superintendent, security cameras, and a 24-hour laundry room on the ground level. The property tax is 4,548/year. Make your appointment today!!

6. 2005-09-09
   soldstatus $155,000
7. 2003-06-19
   soldstatus $80,000
8. 1986-08-27
   soldstatus $62,500
9. 1985-10-29
   soldstatus $606,000

ⓘ 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: $4,504 · $375/mo
• Projected year-2 tax: $5,505 · $459/mo
• Expected delta: +$1,001/yr (+$83/mo · 22.2%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (shaded) · 59% 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 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: $46,889
• − Mortgage interest: −$21,566
• − Property taxes: −$4,504
• − Insurance: −$2,722
• − Repairs & maintenance: −$3,751
• − Management: −$3,751
• − HOA: −$6,264
• − Depreciation: −$11,200
• Taxable loss: −$6,870
• Est. tax savings @ 24.0%: +$1,649
• After-tax cash flow: $973/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

-36.5% since first listed

9 events — show timeline

• 2026-02-26 Pending — BNYMLS
• 2026-02-26 Pending — SIBORMLS
• 2025-12-19 Listed $385,000 BNYMLS
• 2025-10-21 Price Changed $385,000 SIBORMLS
• 2025-08-18 Listed $399,000 SIBORMLS
• 2005-09-09 Sold (Public Records) $155,000 Public Records
• 2003-06-19 Sold (Public Records) $80,000 Public Records
• 1986-08-27 Sold (Public Records) $62,500 Public Records
• 1985-10-29 Sold (Public Records) $606,000 Public Records

Property tax history

+5.4%/yr

Latest (2025): $4,504 · +2.2% YoY. Source: county tax records.