1528 E 98th St Unit 100B · New York, NY 11236

$160,000

1 bd · 1.0 ba · 558 sqft · Condo public records · 73 Days on market

Built 1988

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

SPACIOUS 1 BDM CONDO IN SUPER MINT CONDITION, PRIME CANARSIE LOC, CLOSE TO SHOPPING and TRANSPTWASHER/DRYER HOOKUP IN THE UNIT, SELLER WILL HEAR ALL OFFERS, CALL L/B 800-369-8667, 24 HR NOTICE

Key facts

• Income producing
• Secured lease
• Built 1988

Tags

• INCOME PRODUCING
• SECURED LEASE
• HIGH DEMAND RENTAL AREA
• EASY ACCESS TO TRANSPORTATION
• STRONG RENTAL DEMAND AREA
• LONG TERM LEASE SECURED

Property features AI

Finance

• Other: Building contains 5 total units
• Financial info: Tenant pays $2,612 monthly rent (lease through 2027-01-31); Financing options: Exchange considered, bank mortgage, cash; 10% down payment indicated
• HOA & community: Monthly maintenance fee of $240; Managed by Shinda Management Corp (contact: 347-534-3224, email available)

Exterior

• Parking: No parking
• Utilities: No utilities included; Electric service available; Gas service available; Baseboard heat delivery
• Home design: Residential attached building; First-floor unit
• Construction: Part of a 5-unit building
• Exterior features: Attached building; Unit located on first floor; Lot number 1006

Interior

• Kitchen: Kitchen and living room combined; Microwave; Dishwasher
• Bedrooms: 1 bedroom on the first floor
• Flooring: Laminate floors
• Bathrooms: 1 full bathroom on the first floor
• Heating & cooling: Electric and gas heating; Baseboard heat; Two AC units
• Interior features: Dishwasher; Dryer; Microwave; Washer; Two air conditioning units
• Laundry & utility: In-unit washer and dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $160k.

Deal economics

• At list price, monthly cash flow is $874 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $160k).
• Recommended offer: $150k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.8% 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: 229 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 37% of the median local income ($81k/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 $1k of loan paydown is wiped out by about $5k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 21y ago; this cycle's ask has dropped $105k (40%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major flood risk; major wind risk, 68% 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 $150,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. 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?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
8. 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.
9. 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: 1.58% ✓
• Cap rate: 12.85%
• Cash-on-cash: 23.41%
• DSCR: 2.04
• GRM: 5.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 16.5%
• Equity multiple: 1.67×
• Total profit: $29,795
• Equity at exit: $23,857

10-year hold

• IRR: 25.1%
• Equity multiple: 3.18×
• Total profit: $97,838
• Equity at exit: $13,834

Cash invested: $44,800 (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 11236

• Active inventory: 229
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $2,533 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$222 /mo · $2,659/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$532
• Net cashflow: $874

Break-even live

Break-even rent $1,427

Max offer price $160,000

Occupancy floor 60%

Sensitivity live

Price	-10% $965	-5% $919	+0% $874	+5% $829	+10% $784
Rent	-10% $674	-5% $774	+0% $874	+5% $974	+10% $1,074
Rate	-1.0pp $955	-0.5pp $915	base $874	+0.5pp $833	+1.0pp $790

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: $40,000
• Closing costs: $4,800
• 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 19 events

1. 2026-06-21
   days on market $160,000 Active 73 DOM
2. 2026-06-18
   days on market $160,000 Active 70 DOM
3. 2026-06-17
   days on market $160,000 Active 69 DOM
4. 2026-06-15
   days on market $160,000 Active 67 DOM
5. 2026-06-13
   pricedays on market $160,000 Active 65 DOM
6. 2026-06-10
   days on market $265,000 Active 61 DOM
7. 2026-06-08
   days on market $265,000 Active 60 DOM
8. 2026-06-08
   days on market $265,000 Active 59 DOM
9. 2026-06-04
   days on market $265,000 Active 56 DOM
10. 2026-06-03
    days on market $265,000 Active 55 DOM
11. 2026-06-01
    days on market $265,000 Active 53 DOM
12. 2026-05-31
    days on market $265,000 Active 52 DOM
13. 2026-04-02
    listed $265,000 Active
14. 2025-02-21
    price $299,999
15. 2005-06-08
    soldstatus $210,000
16. 2005-02-12
    listed $219,000 192-char remark

    Show marketing remark (192 chars)

    SPACIOUS 1 BDM CONDO IN SUPER MINT CONDITION, PRIME CANARSIE LOC, CLOSE TO SHOPPING and TRANSPTWASHER/DRYER HOOKUP IN THE UNIT, SELLER WILL HEAR ALL OFFERS, CALL L/B 800-369-8667, 24 HR NOTICE

17. 2003-08-18
    soldstatus $165,000
18. 2001-03-02
    soldstatus $700,000
19. 1998-11-05
    soldstatus $252,500

ⓘ 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: $2,659 · $222/mo
• Projected year-2 tax: $2,681 · $223/mo
• Expected delta: +$23/yr (+$2/mo · 0.8%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 68% 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: $30,401
• − Mortgage interest: −$8,962
• − Property taxes: −$2,659
• − Insurance: −$800
• − Repairs & maintenance: −$2,432
• − Management: −$2,432
• − Depreciation: −$4,655
• Taxable income: $8,461
• Est. tax owed @ 24.0%: −$2,031
• After-tax cash flow: $8,458/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): 88,051
• Household income: $81,464
• Rent vs Own: 48.4% rent · 51.6% own
• Severe rent burden: 4225.0

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: Predominantly Black (79%)
• Race & ethnicity: Black 79% Hispanic / Latino 8% Two or more races 8% White 4% Asian 2%
• Hispanic origin (detail): Puerto Rican 3% Dominican 2%
• Common ancestry: Hispanic 14%
• Foreign-born: 45% · Canada, Mexico, China
• Languages at home: 74% English-only · French/Haitian/Cajun 14% Spanish 6% Chinese 1%

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: ▼ -375.21%
• Current HPI: 330.8367
• Rent YoY: —
• 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

+5.0% since first listed

7 events — show timeline

• 2026-04-02 Listed $265,000 BNYMLS
• 2025-02-21 Price Changed $299,999 BNYMLS
• 2005-06-08 Sold (Public Records) $210,000 Public Records
• 2005-02-12 Listed $219,000 BNYMLS
• 2003-08-18 Sold (Public Records) $165,000 Public Records
• 2001-03-02 Sold (Public Records) $700,000 Public Records
• 1998-11-05 Sold (Public Records) $252,500 Public Records

Property tax history

+4.2%/yr

Latest (2025): $2,659 · -1.7% YoY. Source: county tax records.