2220 Burnett St Unit 2F · New York, NY 11229

$265,000

2 bd · 1.0 ba · 850 sqft · Condo · 90 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 +25.6/30.0
• DSCR +8.5/10.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• 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 MLS

A must see!! This spacious, sunny co-op is close to all!! Overlooking the nature preserve, short distance to shopping, transportation, and Marine Park! Bright and Sunny 2 bedroom and with large living room, dining area, eat in kitchen, and full bath! Beautiful hardwood floors and lots of closets! Won't last!!

Key facts

• On-site laundry room
• Updated elevators
• Hardwood floors

Tags

• HARDWOOD FLOORS
• ABUNDANT CLOSET SPACE
• PET FRIENDLY BUILDING
• UPDATED ELEVATORS
• VIDEO INTERCOM SYSTEM
• ON-SITE LAUNDRY ROOM

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $265k.

Deal economics

• At list price, monthly cash flow is $625 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $265k).
• Recommended offer: $249k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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.
• Market conditions: Rents rising fast (+15.8%/yr); 355 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $3,110/mo this rent would consume 53% of the median local household income ($71k/yr) (locally 4771% 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 $8k 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 $74k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($249k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y 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.

Recommended offer $249,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 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: 1.17% ✓
• Cap rate: 9.12%
• Cash-on-cash: 10.11%
• DSCR: 1.45
• GRM: 7.1

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: 4.4%
• Equity multiple: 1.18×
• Total profit: $13,373
• Equity at exit: $39,512

10-year hold

• IRR: 18.1%
• Equity multiple: 2.86×
• Total profit: $137,928
• Equity at exit: $22,912

Cash invested: $74,200 (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: 355
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $3,110 medium
• Mortgage (P&I): −$1,390
• Tax est. 1.5%: −$331 /mo · $3,975/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$653
• Net cashflow: $625

Break-even live

Break-even rent $2,318

Max offer price $265,000

Occupancy floor 75%

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3112 Emmons Ave Unit 203 Brooklyn, NY	1.0	1.0	734	$3,200	$4.36	25d	1	1.26mi
3000 Emmons Ave Unit 5 Brooklyn, NY	2.0	2.0	840	$4,085	$4.86	25d	1	1.31mi

HOA detail condo

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

Listing history 10 events

1. 2026-03-24
   status Pending
2. 2025-12-24
   listed $265,000 Active
3. 2023-08-31
   historical 312-char remark

   Show marketing remark (312 chars)

   A must see!! This spacious, sunny co-op is close to all!! Overlooking the nature preserve, short distance to shopping, transportation, and Marine Park! Bright and Sunny 2 bedroom and with large living room, dining area, eat in kitchen, and full bath! Beautiful hardwood floors and lots of closets! Won't last!!

4. 2023-08-31
   soldstatus $240,000 Sold 312-char remark

   Show marketing remark (312 chars)

   A must see!! This spacious, sunny co-op is close to all!! Overlooking the nature preserve, short distance to shopping, transportation, and Marine Park! Bright and Sunny 2 bedroom and with large living room, dining area, eat in kitchen, and full bath! Beautiful hardwood floors and lots of closets! Won't last!!

5. 2023-05-22
   status Pending 312-char remark

   Show marketing remark (312 chars)

   A must see!! This spacious, sunny co-op is close to all!! Overlooking the nature preserve, short distance to shopping, transportation, and Marine Park! Bright and Sunny 2 bedroom and with large living room, dining area, eat in kitchen, and full bath! Beautiful hardwood floors and lots of closets! Won't last!!

6. 2023-03-28
   price $249,000 312-char remark

   Show marketing remark (312 chars)

   A must see!! This spacious, sunny co-op is close to all!! Overlooking the nature preserve, short distance to shopping, transportation, and Marine Park! Bright and Sunny 2 bedroom and with large living room, dining area, eat in kitchen, and full bath! Beautiful hardwood floors and lots of closets! Won't last!!

7. 2023-02-16
   status Active 312-char remark

   Show marketing remark (312 chars)

   A must see!! This spacious, sunny co-op is close to all!! Overlooking the nature preserve, short distance to shopping, transportation, and Marine Park! Bright and Sunny 2 bedroom and with large living room, dining area, eat in kitchen, and full bath! Beautiful hardwood floors and lots of closets! Won't last!!

8. 2023-02-16
   historical 312-char remark

   Show marketing remark (312 chars)

   A must see!! This spacious, sunny co-op is close to all!! Overlooking the nature preserve, short distance to shopping, transportation, and Marine Park! Bright and Sunny 2 bedroom and with large living room, dining area, eat in kitchen, and full bath! Beautiful hardwood floors and lots of closets! Won't last!!

9. 2022-08-30
   listed $259,000 Active 312-char remark

   Show marketing remark (312 chars)

   A must see!! This spacious, sunny co-op is close to all!! Overlooking the nature preserve, short distance to shopping, transportation, and Marine Park! Bright and Sunny 2 bedroom and with large living room, dining area, eat in kitchen, and full bath! Beautiful hardwood floors and lots of closets! Won't last!!

10. 2014-05-19
    listed $164,000 243-char remark

    Show marketing remark (243 chars)

    Best priced coop in building! Extra Large 4 room apt with window in Large eik . Pet friendly,20 down payment required,Main is $682. Inc Gas and Electric, No subleasing .Apt needs some updating, Walk up or elevator. Across the street from park.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $37,318
• − Mortgage interest: −$14,844
• − Property taxes: −$3,975
• − Insurance: −$1,325
• − Repairs & maintenance: −$2,985
• − Management: −$2,985
• − Depreciation: −$7,709
• Taxable income: $3,494
• Est. tax owed @ 24.0%: −$839
• After-tax cash flow: $6,666/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

+61.6% since first listed

10 events — show timeline

• 2026-03-24 Pending — BNYMLS
• 2025-12-24 Listed $265,000 BNYMLS
• 2023-08-31 Delisted — BNYMLS
• 2023-08-31 Sold (MLS) $240,000 BNYMLS
• 2023-05-22 Pending — BNYMLS
• 2023-03-28 Price Changed $249,000 BNYMLS
• 2023-02-16 Relisted — BNYMLS
• 2023-02-16 Delisted — BNYMLS
• 2022-08-30 Listed $259,000 BNYMLS
• 2014-05-19 Listed $164,000 BNYMLS