394 Avenue S Unit 3D · New York, NY 11223

$355,000

2 bd · 1.0 ba · 890 sqft · Condo · 99 Days on market

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Why this score? — see what drove the C+ 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 +23.2/30.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• 1% rule +6.0/10.0
• 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

Welcome to Senate Apartments. Bright and spacious 2 bedroom and 1bathroom apartment on third floor an elevator building. * * * 24 hours video security, super on premises. * * * Laundry in the building. * * * Storage unit available for additional $30/month, waiting list for indoor garage spot for $140/month. * * * Maintenance $1,134/month ( inc. heat, water, septic, sewer) * * * Sublease after two years of ownership ( by board approval), pets allowed. * * * Close to F train, shopping, buses. * * * Great school district!

Key facts

• Close to f train
• Pets allowed
• Listed 98 days

Tags

• 24 HOURS VIDEO SECURITY
• LAUNDRY IN THE BUILDING
• STORAGE UNIT AVAILABLE
• PETS ALLOWED
• CLOSE TO F TRAIN
• GREAT SCHOOL DISTRICT

Property features AI

Finance

• Other: 72-unit building; Unit size reported as 890 (sq ft excluded from interior/exterior lists per instructions); Floor: 3; Sub-lease allowed
• Financial info: Financing available: Bank mortgage or cash; Flip tax: 1.5%
• HOA & community: Monthly maintenance/ common fee of $1,134.50; Managed by Newport Management (718-633-7700); Pets allowed (both cats and dogs); Handicap access available; Co-op shares: 465

Exterior

• Parking: Wait-list for parking
• Security: Intercom door
• Utilities: Heat; Water; Sewer; Septic
• Home design: Residential building; Unit on the third floor
• Exterior features: Storage rooms; Third-floor location (unit on floor 3)

Interior

• Kitchen: Refrigerator; Stove
• Bedrooms: Two bedrooms on the first floor (one is the primary/master)
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Heat
• Interior features: Window A/C units (2); Elevator; Intercom door
• Laundry & utility: Card-operated laundry; Laundry area

🏢 Co-op / cooperative unit. The $355,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $355k.

Deal economics

• At list price, monthly cash flow is $574 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $355k).
• Recommended offer: $323k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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: Rents rising fast (+13.1%/yr); 216 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $3,916/mo this rent would consume 74% of the median local household income ($63k/yr) (locally 6011% 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 $2k of loan paydown is wiped out by about $11k 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 $99k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($323k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; major wind risk, 68% 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 $323,050 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.10% ✓
• Cap rate: 8.46%
• Cash-on-cash: 7.73%
• DSCR: 1.34
• GRM: 7.6

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: -0.0%
• Equity multiple: 1.00×
• Total profit: $-171
• Equity at exit: $52,932

10-year hold

• IRR: 14.3%
• Equity multiple: 2.42×
• Total profit: $141,528
• Equity at exit: $30,694

Cash invested: $99,400 (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 11223

• Rents YoY: 13.1%
• Active inventory: 216
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $3,916 high
• Mortgage (P&I): −$1,862
• Tax est. 1.5%: −$444 /mo · $5,325/yr
• Insurance: −$148
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$822
• Net cashflow: $574

Break-even live

Break-even rent $3,190

Max offer price $355,000

Occupancy floor 80%

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: $88,750
• Closing costs: $10,650
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8642 26th Ave Unit 3 Brooklyn, NY	3.0	1.0	1100	$3,100	$2.82	15d	1	0.60mi
63 Bay 37th St Unit 1R Brooklyn, NY	2.0	1.0	900	$3,100	$3.44	24d	1	0.71mi
2483 W 16th St Brooklyn, NY	1.0	1.0	800	$1,800	$2.25	20d	1	1.02mi
2538 E 2nd St Unit 2 Brooklyn, NY	3.0	1.0	1100	$2,600	$2.36	24d	1	1.04mi
2286 Cropsey Ave Unit 18B Brooklyn, NY	2.0	2.0	889	$5,300	$5.96	18d	1	1.13mi
2286 Cropsey Ave Unit 6A Brooklyn, NY	2.0	2.0	889	$5,125	$5.76	24d	1	1.13mi
2286 Cropsey Ave Unit 19C Brooklyn, NY	1.0	1.0	544	$3,600	$6.62	18d	1	1.13mi
2286 Cropsey Ave Unit 7E Brooklyn, NY	2.0	2.0	948	$5,250	$5.54	18d	1	1.13mi
2286 Cropsey Ave Unit 9A Brooklyn, NY	2.0	2.0	889	$5,200	$5.85	18d	1	1.13mi
2286 Cropsey Ave Unit 8B Brooklyn, NY	2.0	2.0	889	$5,000	$5.62	18d	1	1.13mi
2286 Cropsey Ave Unit 13E Brooklyn, NY	2.0	2.0	948	$5,550	$5.85	18d	1	1.13mi
2971 Shell Rd Unit 711 Brooklyn, NY	2.0	2.0	907	$4,200	$4.63	24d	1	1.43mi
2971 Shell Rd Unit 406 Brooklyn, NY	2.0	2.0	920	$3,550	$3.86	24d	1	1.43mi
2971 Shell Rd Unit 612 Brooklyn, NY	2.0	2.0	907	$4,150	$4.58	24d	1	1.43mi
2971 Shell Rd Unit 508 Brooklyn, NY	2.0	2.0	930	$4,099	$4.41	24d	1	1.43mi
2971 Shell Rd Unit 720 Brooklyn, NY	2.0	2.0	920	$4,100	$4.46	24d	1	1.43mi
2971 Shell Rd Unit 704 Brooklyn, NY	2.0	1.0	826	$3,950	$4.78	24d	1	1.43mi

HOA detail condo

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

Listing history 12 events

1. 2026-06-18
   days on market $355,000 Active 99 DOM
2. 2026-06-17
   days on market $355,000 Active 98 DOM
3. 2026-06-15
   days on market $355,000 Active 96 DOM
4. 2026-06-13
   days on market $355,000 Active 94 DOM
5. 2026-06-10
   days on market $355,000 Active 90 DOM
6. 2026-06-08
   days on market $355,000 Active 89 DOM
7. 2026-06-08
   days on market $355,000 Active 88 DOM
8. 2026-06-04
   days on market $355,000 Active 85 DOM
9. 2026-06-03
   days on market $355,000 Active 84 DOM
10. 2026-06-01
    days on market $355,000 Active 82 DOM
11. 2026-05-31
    days on market $355,000 Active 81 DOM
12. 2026-03-12
    listed $355,000 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 8/10 Severe FEMA zone X (unshaded) · 78% 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 68% 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: $46,994
• − Mortgage interest: −$19,886
• − Property taxes: −$5,325
• − Insurance: −$2,572
• − Repairs & maintenance: −$3,760
• − Management: −$3,760
• − Depreciation: −$10,327
• Taxable income: $1,365
• Est. tax owed @ 24.0%: −$328
• After-tax cash flow: $6,560/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): 78,093
• Household income: $63,368
• Rent vs Own: 63.9% rent · 36.1% own
• Severe rent burden: 6011.0

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: White 51% Asian 26% Hispanic / Latino 13% Black 5% Two or more races 4%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2% Dominican 1%
• Common ancestry: Scotch-Irish 4% Subsaharan African 4% Romanian 1%
• Foreign-born: 46% · China, Canada, Philippines
• Languages at home: 41% English-only · Chinese 17% Russian/Polish/Slavic 15% Spanish 9%

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: ▼ -286.92%
• Current HPI: 430.9891
• Rent YoY: ▲ 13.09%
• 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

1 event — show timeline

• 2026-03-12 Listed $355,000 BNYMLS