6665 Colonial Rd Unit 2F · New York, NY 11220

$399,000

2 bd · 1.0 ba · 1,000 sqft · Condo · 703 Days on market

↓ 12% since listing

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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).

• Appreciation +7.8/10.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• 1% rule +1.6/10.0
• Cash flow +0.4/30.0
• DSCR +0.0/10.0

Listing remarks

OPEN HOUSE: SUNDAY MARCH 15 12:00-1:00PM Welcome to one of Bay Ridge’s premier and highly sought after co-op buildings facing Owls Head Park and the NY Harbor. This sun filled 2 bedroom apartment offers 1,000 sq. ft. of living space. Features of this unit include: a spacious foyer, an oversized living/dining room, an eat in kitchen with plenty of cabinetry and cozy built in booth. The primary bedroom has a custom built in wall to wall closet system. There are also several other extra deep closets in the apartment to accommodate all your storage needs. This building is pet friendly (upon approval) & offers the convenience of a on-site parking (short wait list), additional st

Key facts

• Listed 703 days

Property features AI

Finance

• Other: Flip tax applies
• Financial info: Financing options considered: bank mortgage, cash, exchange
• HOA & community: Monthly maintenance: $1,005; Managed by Choice New York; Pets allowed (cats and dogs); Co-op shares listed

Exterior

• Parking: Parking wait-list
• Security: Secure lobby; Resident superintendent
• Utilities: Electric; Gas; Heat; Sewer; Water; Septic
• Home design: Residential condominium/co-op unit; Unit on the 2nd floor
• Construction: Part of a 48-unit building
• Exterior features: Second-floor unit in a residential building; Located in Brooklyn near 66th St

Interior

• Kitchen: Eat-in kitchen; Stove; Microwave; Refrigerator; Dishwasher
• Bedrooms: Two bedrooms on the first floor
• Flooring: Hardwood floors
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Heat (building-provided); Window A/C unit
• Interior features: Window A/C unit; Elevator access; Secure lobby; Resident superintendent; Storage rooms
• Laundry & utility: No in-unit AC units listed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $399k.

Deal economics

• At list price, monthly cash flow is $-2k ($-21k/yr) — negative.
• To cash-flow at today's rent, offer at most $299k (25.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $262k (34.4% below list).
• Recommended offer: $262k (34.4% below list) — sets the bar for 1% rule.
• Cap rate 1.0% 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 102 Bayview (The) (math 58% / reading 69%, grade B, #663 of 2,108 statewide, top 32%, 1,110 students, 64% FRL); Jhs 259 William Mckinley (math 65% / reading 76%, grade A, #84 of 729 statewide, top 12%, 1,591 students, 81% 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 fast (+11.0%/yr); 271 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• This rent runs 45% of the median local income ($70k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $25k of equity ($3k loan paydown + $22k appreciation (5.6% 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 ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 703 days — a 12% lower offer ($351k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $56k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 41% of rent.
• Climate carrying-cost: major wind risk, 61% 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 $261,691 (34.4% 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 703 days. Have you received any prior offers? Is the seller open to a 34% 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: 0.66% ✗
• Cap rate: 1.01%
• Cash-on-cash: -18.87%
• DSCR: 0.16
• GRM: 12.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.63% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 1.2%
• Equity multiple: 1.08×
• Total profit: $9,177
• Equity at exit: $241,635

10-year hold

• IRR: 6.4%
• Equity multiple: 2.37×
• Total profit: $152,786
• Equity at exit: $430,470

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 11220

• Home prices YoY: 2.5%
• Rents YoY: 11.0%
• Active inventory: 271
• Price-to-rent: 12.7×

Monthly cashflow live

• Estimated rent: $2,617 medium
• Mortgage (P&I): −$2,092
• Tax est. 1.5%: −$499 /mo · $5,985/yr
• Insurance: −$166
• HOA est. from 2 same-building comps: −$1,067
• Vacancy / Maint / Mgmt: −$550
• Net cashflow: $-1,757

Break-even live

Break-even rent $4,841

Max offer price $144,753

Occupancy floor —

Sensitivity live

Price	-10% $-1,481	-5% $-1,619	+0% $-1,757	+5% $-1,895	+10% $-2,033
Rent	-10% $-1,964	-5% $-1,860	+0% $-1,757	+5% $-1,654	+10% $-1,550
Rate	-1.0pp $-1,556	-0.5pp $-1,656	base $-1,757	+0.5pp $-1,860	+1.0pp $-1,966

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 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6717 6th Ave Unit 2 Brooklyn, NY	1.0	1.0	700	$2,200	$3.14	20d	1	0.78mi

HOA detail condo

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

Listing history 11 events

1. 2026-05-31
   status $399,000 Pending 703 DOM
2. 2026-03-09
   status Active
3. 2025-12-30
   status Pending
4. 2025-10-14
   price $399,000
5. 2025-06-10
   status Active
6. 2025-05-16
   status Pending
7. 2025-04-24
   price $415,000
8. 2025-01-15
   status Active
9. 2024-12-18
   status Pending
10. 2024-04-17
    price $444,000
11. 2024-02-20
    listed $455,000 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 61% 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: $31,403
• − Mortgage interest: −$22,350
• − Property taxes: −$5,985
• − Insurance: −$1,995
• − Repairs & maintenance: −$2,512
• − Management: −$2,512
• − HOA: −$12,804
• − Depreciation: −$11,607
• Taxable loss: −$28,363
• Est. tax savings @ 24.0%: +$6,807
• After-tax cash flow: $-14,277/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): 90,652
• Household income: $69,883
• Rent vs Own: 73.3% rent · 26.7% own
• Severe rent burden: 6563.0

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 0.65)
• Race & ethnicity: Asian 40% Hispanic / Latino 40% White 16% Two or more races 7% Black 2% Native American 2%
• Hispanic origin (detail): Mexican 17% Puerto Rican 8% Dominican 5%
• Common ancestry: Romanian 1% Scotch-Irish 1% Subsaharan African 1%
• Foreign-born: 52% · China, Canada, Jamaica
• Languages at home: 20% English-only · Spanish 35% Chinese 35% Arabic 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: ▲ 5.63%
• Current HPI: 226.624
• Rent YoY: ▲ 11.02%
• 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

-12.3% since first listed

10 events — show timeline

• 2026-03-09 Relisted — BNYMLS
• 2025-12-30 Pending — BNYMLS
• 2025-10-14 Price Changed $399,000 BNYMLS
• 2025-06-10 Relisted — BNYMLS
• 2025-05-16 Pending — BNYMLS
• 2025-04-24 Price Changed $415,000 BNYMLS
• 2025-01-15 Relisted — BNYMLS
• 2024-12-18 Pending — BNYMLS
• 2024-04-17 Price Changed $444,000 BNYMLS
• 2024-02-20 Listed $455,000 BNYMLS