1049 Shore Pkwy Unit 2B · New York, NY 11228

$296,000

1 bd · 1.0 ba · 650 sqft · Condo · 188 Days on market

↓ 9% 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).

• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +4.5/5.0
• Cash flow +4.2/30.0
• Livability +3.8/5.0
• 1% rule +3.6/10.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Don’t miss this fantastic opportunity to own a charming 1-bedroom, 1-bath co-op in the heart of Bath Beach! Located on the 2nd floor, this 650 sq. ft. unit offers a comfortable layout with beautiful water views and plenty of natural light. Enjoy peace of mind with a low maintenance fee that includes taxes, water, and heat. Situated in a well-maintained building, this unit is conveniently close to shopping, restaurants, parks, public transportation, and more. Perfect for first-time buyers or anyone looking to downsize in a prime location—schedule your showing today!

Key facts

• Water views
• Natural light
• Low maintenance fee

Tags

• WATER VIEWS
• NATURAL LIGHT
• LOW MAINTENANCE FEE
• WELL-MAINTAINED BUILDING
• CONVENIENTLY CLOSE TO SHOPPING
• CONVENIENTLY CLOSE TO PARKS

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $296k.

Deal economics

• At list price, monthly cash flow is $-802 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $289k (2.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $253k (14.5% below list).
• Recommended offer: $253k (14.5% below list) — sets the bar for 1% rule.

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 229 Dyker (math 67% / reading 78%, grade A, #375 of 2,108 statewide, top 18%, 1,144 students, 64% FRL); Christa Mcauliffe School (The) /Is 187 (math 94% / reading 96%, grade A+, #3 of 729 statewide, top 0%, 928 students, 76% 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 (+8.0%/yr); 193 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 27d 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).
• This rent runs 36% of the median local income ($84k/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 $2k of loan paydown is wiped out by about $9k 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 188 days — a 12% lower offer ($260k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 30% of rent.
• Climate carrying-cost: 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 $253,173 (14.5% 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 188 days. Have you received any prior offers? Is the seller open to a 14% 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: 0.86% ✗
• Cap rate: 3.04%
• Cash-on-cash: -11.61%
• DSCR: 0.48
• GRM: 9.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 7.96% rent growth · sell at horizon

5-year hold

• IRR: -29.3%
• Equity multiple: -0.03×
• Total profit: $-85,244
• Equity at exit: $44,135

10-year hold

• IRR: -12.3%
• Equity multiple: 0.06×
• Total profit: $-77,586
• Equity at exit: $25,593

Cash invested: $82,880 (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 11228

• Rents YoY: 8.0%
• Active inventory: 193
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $2,532 medium
• Mortgage (P&I): −$1,552
• Tax est. 1.5%: −$370 /mo · $4,440/yr
• Insurance: −$123
• HOA est. from 1 same-building comp: −$756
• Vacancy / Maint / Mgmt: −$532
• Net cashflow: $-802

Break-even live

Break-even rent $3,546

Max offer price $180,018

Occupancy floor —

Sensitivity live

Price	-10% $-597	-5% $-699	+0% $-802	+5% $-904	+10% $-1,006
Rent	-10% $-1,002	-5% $-902	+0% $-802	+5% $-702	+10% $-602
Rate	-1.0pp $-652	-0.5pp $-726	base $-802	+0.5pp $-878	+1.0pp $-956

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: $74,000
• Closing costs: $8,880
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1131 86th St #4 Brooklyn, NY	1.0	1.0	550	$2,350	$4.27	26d	1	0.86mi
335 95th St #3 Brooklyn, NY	1.0	1.0	725	$2,200	$3.03	26d	1	1.20mi
2286 Cropsey Ave Unit 19C Brooklyn, NY	1.0	1.0	544	$3,600	$6.62	20d	1	1.21mi

HOA detail condo

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

Listing history 3 events

1. 2026-03-24
   status Pending
2. 2026-01-14
   price $296,000
3. 2025-09-16
   listed $325,000 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 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 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,381
• − Mortgage interest: −$16,581
• − Property taxes: −$4,440
• − Insurance: −$1,480
• − Repairs & maintenance: −$2,430
• − Management: −$2,430
• − HOA: −$9,072
• − Depreciation: −$8,611
• Taxable loss: −$14,664
• Est. tax savings @ 24.0%: +$3,519
• After-tax cash flow: $-6,099/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): 42,241
• Household income: $83,665
• Rent vs Own: 44.2% rent · 55.8% own
• Severe rent burden: 2061.0

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 0.62)
• Race & ethnicity: White 48% Asian 36% Hispanic / Latino 13% Two or more races 4% Black 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3% Dominican 2%
• Common ancestry: Romanian 2% Scotch-Irish 1% Subsaharan African 1%
• Foreign-born: 41% · China, Canada, Jamaica
• Languages at home: 42% English-only · Chinese 28% Other Indo-European 12% Spanish 8%

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: ▼ -226.00%
• Current HPI: 381.4834
• Rent YoY: ▲ 7.96%
• 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

-8.9% since first listed

3 events — show timeline

• 2026-03-24 Pending — BNYMLS
• 2026-01-14 Price Changed $296,000 BNYMLS
• 2025-09-16 Listed $325,000 BNYMLS