8614 Avenue L #402 · New York, NY 11236

$459,999

2 bd · 2.0 ba · 927 sqft · Condo public records · 91 Days on market

Built 1989

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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 +13.6/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• DSCR +4.1/10.0
• Livability +3.8/5.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

NICE 2 BED.CONDO ON A FIRST FLOOR WITH QUIET BACK YARD AND PORCH.LARGE BEDROOM,2 BATHS. LOW MAINT.GREAT LOCATION.NEER TO ALL...

Key facts

• Wonderful view
• Open concept
• Natural light

Tags

• OPEN CONCEPT
• REAR DECK
• BACKYARD SPACE
• NATURAL LIGHT
• WONDERFUL VIEW
• NEAR PUBLIC TRANSPORTATION

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $460k.

Deal economics

• At list price, monthly cash flow is $-39 ($-469/yr) — negative.
• To cash-flow at today's rent, offer at most $453k (1.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $343k (25.4% below list).
• Recommended offer: $343k (25.4% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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; 2 comparable units currently listed for rent nearby; solid renter incomes; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $3,431/mo this rent would consume 51% of the median local household income ($81k/yr) (locally 4225% 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 $14k 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 91 days — a 9% lower offer ($419k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 26y 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.
• Current owner paid $240k; list at $460k implies a 92% 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, 65% 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 $343,125 (25.4% 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 91 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 0.75% ✗
• Cap rate: 6.36%
• Cash-on-cash: 0.25%
• DSCR: 1.01
• GRM: 11.2

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: -17.0%
• Equity multiple: 0.40×
• Total profit: $-77,242
• Equity at exit: $68,587

10-year hold

• IRR: -8.9%
• Equity multiple: 0.45×
• Total profit: $-71,330
• Equity at exit: $39,772

Cash invested: $128,800 (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: 11.2×

Monthly cashflow live

• Estimated rent: $3,431 medium
• Mortgage (P&I): −$2,412
• Tax from tax record: −$79 /mo · $953/yr
• Insurance: −$192
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$721
• Net cashflow: $-39

Break-even live

Break-even rent $3,481

Max offer price $453,090

Occupancy floor 96%

Sensitivity live

Price	-10% $221	-5% $91	+0% $-39	+5% $-694	+10% $-853
Rent	-10% $-310	-5% $-175	+0% $-39	+5% $96	+10% $232
Rate	-1.0pp $193	-0.5pp $78	base $-39	+0.5pp $-158	+1.0pp $-280

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: $115,000
• Closing costs: $13,800
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1455 Royce St Unit 1H Brooklyn, NY	3.0	2.0	1113	$3,700	$3.32	25d	1	0.71mi
1261 E 101st St Brooklyn, NY	3.0	1.5	936	$3,700	$3.95	25d	1	0.76mi

HOA detail condo

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

Listing history 9 events

1. 2026-02-09
   status Pending
2. 2025-11-10
   listed $459,999 Active
3. 2020-04-15
   soldstatus $240,000 Sold 127-char remark

   Show marketing remark (127 chars)

   NICE 2 BED.CONDO ON A FIRST FLOOR WITH QUIET BACK YARD AND PORCH.LARGE BEDROOM,2 BATHS. LOW MAINT.GREAT LOCATION.NEER TO ALL...

4. 2015-08-03
   soldstatus $240,000
5. 2015-07-21
   historical 127-char remark

   Show marketing remark (127 chars)

   NICE 2 BED.CONDO ON A FIRST FLOOR WITH QUIET BACK YARD AND PORCH.LARGE BEDROOM,2 BATHS. LOW MAINT.GREAT LOCATION.NEER TO ALL...

6. 2015-06-19
   status Pending 127-char remark

   Show marketing remark (127 chars)

   NICE 2 BED.CONDO ON A FIRST FLOOR WITH QUIET BACK YARD AND PORCH.LARGE BEDROOM,2 BATHS. LOW MAINT.GREAT LOCATION.NEER TO ALL...

7. 2015-04-03
   listed $249,000 Active 127-char remark

   Show marketing remark (127 chars)

   NICE 2 BED.CONDO ON A FIRST FLOOR WITH QUIET BACK YARD AND PORCH.LARGE BEDROOM,2 BATHS. LOW MAINT.GREAT LOCATION.NEER TO ALL...

8. 2000-09-08
   listed $149,000 72-char remark

   Show marketing remark (72 chars)

   2 BDM CONDO WITH BKYD ON 1ST FLR, 2 BTHS,ALL SEASONS REALTY HAS THE KEYS

9. 1989-08-16
   soldstatus $151,500

ⓘ 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: $953 · $79/mo
• Projected year-2 tax: $4,363 · $364/mo
• Expected delta: +$3,411/yr (+$284/mo · 358.0%)

ⓘ 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 (unshaded) · 76% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 65% 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: $41,175
• − Mortgage interest: −$25,767
• − Property taxes: −$953
• − Insurance: −$3,097
• − Repairs & maintenance: −$3,294
• − Management: −$3,294
• − Depreciation: −$13,382
• Taxable loss: −$8,612
• Est. tax savings @ 24.0%: +$2,067
• After-tax cash flow: $1,598/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

+203.6% since first listed

9 events — show timeline

• 2026-02-09 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-11-10 Listed $459,999 OneKey® MLS as Distributed by MLS Grid
• 2020-04-15 Sold (MLS) $240,000 BNYMLS
• 2015-08-03 Sold (Public Records) $240,000 Public Records
• 2015-07-21 Delisted — BNYMLS
• 2015-06-19 Pending — BNYMLS
• 2015-04-03 Listed $249,000 BNYMLS
• 2000-09-08 Listed $149,000 BNYMLS
• 1989-08-16 Sold (Public Records) $151,500 Public Records

Property tax history

-3.8%/yr

Latest (2025): $953 · -2.4% YoY. Source: county tax records.