2821 Kings Hwy Unit 4M · New York, NY 11229

$175,000

1 bd · 1.0 ba · 650 sqft · Condo · 107 Days on market

Built 1939

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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
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• 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
• Appreciation +0.0/10.0

Listing remarks MLS

Discover this charming and well-maintained 1-bedroom, 1-bath home in the desirable Kings Highway Garden Co-op Apartments. Located in a well-kept elevator building, this residence features a spacious living room/dining room combination, ideal for both comfortable living and entertaining. The apartment offers a windowed bathroom with natural light and ventilation. Exceptionally low maintenance includes heat and hot water, adding tremendous value. The building provides updated laundry facilities and a parking waitlist for added convenience. Ideally situated just moments from the 2 train line, multiple bus routes, and Kings Highway shopping, dining, and everyday essentials. A fantastic opportunity to own in a prime location with low monthly costs. Don’t miss your chance to make this home your own—schedule your private showing today.

Key facts

• Windowed bathroom
• Well maintained
• Prime location

Tags

• WELL MAINTAINED
• WINDOWED BATHROOM
• UPDATED LAUNDRY FACILITIES
• PRIME LOCATION

Property features AI

Exterior

• Parking: No carport; Parking waitlist
• Utilities: Public sewer; Cable available; Electricity available; Natural gas available; Public trash collection
• Home design: Stock cooperative
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: 2 rooms total (includes sleeping areas)
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Wall/window air conditioning units
• Interior features: Elevator; Open kitchen; Entry level: 1; No pets allowed

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $175k.

Deal economics

• At list price, monthly cash flow is $699 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $159k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.1% 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: Ps 197 Kings Highway Academy (The) (math 62% / reading 62%, grade B, #675 of 2,108 statewide, top 35%, 963 students, 73% 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 fast (+15.8%/yr); 359 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• This rent runs 41% of the median local income ($71k/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 + 8.0% rent growth), your $49k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 107 days — a 9% lower offer ($159k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 15y 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.

Risks & watch-outs

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; major wind risk, 72% 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 $159,250 (9.0% below list)

Questions for the listing agent

1. It's been on market 107 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1939 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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: 1.38% ✓
• Cap rate: 11.08%
• Cash-on-cash: 17.11%
• DSCR: 1.76
• GRM: 6.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 13.9%
• Equity multiple: 1.59×
• Total profit: $28,952
• Equity at exit: $26,093

10-year hold

• IRR: 26.3%
• Equity multiple: 3.87×
• Total profit: $140,768
• Equity at exit: $15,131

Cash invested: $49,000 (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 11229

• Rents YoY: 15.8%
• Active inventory: 359
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $2,415 medium
• Mortgage (P&I): −$918
• Tax est. 1.5%: −$219 /mo · $2,625/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$507
• Net cashflow: $699

Break-even live

Break-even rent $1,531

Max offer price $175,000

Occupancy floor 66%

Sensitivity live

Price	-10% $820	-5% $759	+0% $699	+5% $638	+10% $578
Rent	-10% $508	-5% $603	+0% $699	+5% $794	+10% $890
Rate	-1.0pp $787	-0.5pp $743	base $699	+0.5pp $653	+1.0pp $607

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

HOA detail condo

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

Listing history 21 events

1. 2026-06-21
   days on market $175,000 Active 107 DOM
2. 2026-06-18
   days on market $175,000 Active 104 DOM
3. 2026-06-17
   status $175,000 Active 103 DOM
4. 2026-04-26
   status Pending

   Show marketing remark (858 chars)

   Discover this charming and well-maintained 1-bedroom, 1-bath home in the desirable Kings Highway Garden Co-op Apartments. Located in a well-kept elevator building, this residence features a spacious living room/dining room combination, ideal for both comfortable living and entertaining. The apartment offers a windowed bathroom with natural light and ventilation. Exceptionally low maintenance includes heat and hot water, adding tremendous value. The building provides updated laundry facilities and a parking waitlist for added convenience. Ideally situated just moments from the 2 train line, multiple bus routes, and Kings Highway shopping, dining, and everyday essentials. A fantastic opportunity to own in a prime location with low monthly costs. Don’t miss your chance to make this home your own—schedule your private showing today.

5. 2026-04-26
   status Pending 858-char remark

   Show marketing remark (858 chars)

   Discover this charming and well-maintained 1-bedroom, 1-bath home in the desirable Kings Highway Garden Co-op Apartments. Located in a well-kept elevator building, this residence features a spacious living room/dining room combination, ideal for both comfortable living and entertaining. The apartment offers a windowed bathroom with natural light and ventilation. Exceptionally low maintenance includes heat and hot water, adding tremendous value. The building provides updated laundry facilities and a parking waitlist for added convenience. Ideally situated just moments from the 2 train line, multiple bus routes, and Kings Highway shopping, dining, and everyday essentials. A fantastic opportunity to own in a prime location with low monthly costs. Don’t miss your chance to make this home your own—schedule your private showing today.

6. 2026-02-26
   price $175,000 858-char remark

   Show marketing remark (858 chars)

   Discover this charming and well-maintained 1-bedroom, 1-bath home in the desirable Kings Highway Garden Co-op Apartments. Located in a well-kept elevator building, this residence features a spacious living room/dining room combination, ideal for both comfortable living and entertaining. The apartment offers a windowed bathroom with natural light and ventilation. Exceptionally low maintenance includes heat and hot water, adding tremendous value. The building provides updated laundry facilities and a parking waitlist for added convenience. Ideally situated just moments from the 2 train line, multiple bus routes, and Kings Highway shopping, dining, and everyday essentials. A fantastic opportunity to own in a prime location with low monthly costs. Don’t miss your chance to make this home your own—schedule your private showing today.

7. 2026-02-26
   price $175,000

   Show marketing remark (858 chars)

   Discover this charming and well-maintained 1-bedroom, 1-bath home in the desirable Kings Highway Garden Co-op Apartments. Located in a well-kept elevator building, this residence features a spacious living room/dining room combination, ideal for both comfortable living and entertaining. The apartment offers a windowed bathroom with natural light and ventilation. Exceptionally low maintenance includes heat and hot water, adding tremendous value. The building provides updated laundry facilities and a parking waitlist for added convenience. Ideally situated just moments from the 2 train line, multiple bus routes, and Kings Highway shopping, dining, and everyday essentials. A fantastic opportunity to own in a prime location with low monthly costs. Don’t miss your chance to make this home your own—schedule your private showing today.

8. 2026-01-13
   listed $180,000 Active
9. 2026-01-10
   listed $180,000 Active 858-char remark

   Show marketing remark (858 chars)

   Discover this charming and well-maintained 1-bedroom, 1-bath home in the desirable Kings Highway Garden Co-op Apartments. Located in a well-kept elevator building, this residence features a spacious living room/dining room combination, ideal for both comfortable living and entertaining. The apartment offers a windowed bathroom with natural light and ventilation. Exceptionally low maintenance includes heat and hot water, adding tremendous value. The building provides updated laundry facilities and a parking waitlist for added convenience. Ideally situated just moments from the 2 train line, multiple bus routes, and Kings Highway shopping, dining, and everyday essentials. A fantastic opportunity to own in a prime location with low monthly costs. Don’t miss your chance to make this home your own—schedule your private showing today.

10. 2024-10-21
    price $198,000
11. 2024-04-22
    historical
12. 2024-02-16
    price $189,000
13. 2024-02-16
    price $189,000
14. 2024-01-24
    price $190,000
15. 2024-01-23
    price $190,000
16. 2023-12-19
    price $199,999
17. 2023-12-18
    price $199,999
18. 2023-12-10
    listed $209,000 Active
19. 2023-07-13
    price $199,999
20. 2023-06-16
    price $210,000
21. 2011-12-01
    listed $129,000

ⓘ 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 5/10 Major FEMA zone X (unshaded) · 24% 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 72% 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: $28,985
• − Mortgage interest: −$9,803
• − Property taxes: −$2,625
• − Insurance: −$875
• − Repairs & maintenance: −$2,319
• − Management: −$2,319
• − Depreciation: −$5,091
• Taxable income: $5,954
• Est. tax owed @ 24.0%: −$1,429
• After-tax cash flow: $6,957/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): 78,377
• Household income: $70,603
• Rent vs Own: 53.1% rent · 46.9% own
• Severe rent burden: 4771.0

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 0.60)
• Race & ethnicity: White 59% Asian 22% Hispanic / Latino 9% Black 6% Two or more races 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Scotch-Irish 6% Subsaharan African 6% Romanian 1%
• Foreign-born: 47% · China, Canada, Vietnam
• Languages at home: 40% English-only · Russian/Polish/Slavic 22% Chinese 16% Spanish 6%

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: ▼ -761.52%
• Current HPI: 361.7011
• Rent YoY: ▲ 15.81%
• 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

+35.7% since first listed

18 events — show timeline

• 2026-04-26 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-04-26 Pending — BNYMLS
• 2026-02-26 Price Changed $175,000 BNYMLS
• 2026-02-26 Price Changed $175,000 OneKey® MLS as Distributed by MLS Grid
• 2026-01-13 Listed $180,000 OneKey® MLS as Distributed by MLS Grid
• 2026-01-10 Listed $180,000 BNYMLS
• 2024-10-21 Price Changed $198,000 BNYMLS
• 2024-04-22 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-02-16 Price Changed $189,000 BNYMLS
• 2024-02-16 Price Changed $189,000 OneKey® MLS as Distributed by MLS Grid
• 2024-01-24 Price Changed $190,000 BNYMLS
• 2024-01-23 Price Changed $190,000 OneKey® MLS as Distributed by MLS Grid
• 2023-12-19 Price Changed $199,999 BNYMLS
• 2023-12-18 Price Changed $199,999 OneKey® MLS as Distributed by MLS Grid
• 2023-12-10 Listed $209,000 OneKey® MLS as Distributed by MLS Grid
• 2023-07-13 Price Changed $199,999 BNYMLS
• 2023-06-16 Price Changed $210,000 BNYMLS
• 2011-12-01 Listed $129,000 BNYMLS