3202 Nostrand Ave Unit 1G · New York, NY 11229

$299,000

1 bd · 1.0 ba · 800 sqft · Condo · 44 Days on market

Built 1959

---

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 +12.7/30.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• DSCR +3.8/10.0
• Livability +3.8/5.0
• 1% rule +3.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

15237R: One bedroom CO-OP w/large living room/dining room area, large Master w/double closet, fully tiled bath, newer kitchen. Near all shopping & transportation. NOTE: parking available there is a waiting list. LEVEL 1-G unit: Foyer, large living room, large dining area & galley kitchen, closets, Master bedroom w/master closet. HOA includes: gas, hot water, outside maintenance, sewer, taxes. NOTE: not sure of 1 flip tax fee or 20 down. Must be approved by Co-Op Board.

Key facts

• Fully renovated
• Contemporary kitchen
• Quartz countertops

Tags

• FULLY RENOVATED
• MODERN OPEN LAYOUT
• EXPANSIVE LIVING DINING AREA
• CONTEMPORARY KITCHEN
• HIGH GLOSS CABINETRY
• QUARTZ COUNTERTOPS

🏢 Co-op / cooperative unit. The $299,000 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 1-bed/1.0-bath condo listed at $299k.

Deal economics

• At list price, monthly cash flow is $-34 ($-413/yr) — negative.
• To cash-flow at today's rent, offer at most $294k (1.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $257k (14.0% below list).
• Recommended offer: $257k (14.0% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% FRL); Jhs 234 Arthur W Cunningham (math 62% / reading 72%, grade A-, #101 of 729 statewide, top 15%, 1,342 students, 78% 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 44% 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 $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 44 days — a 3% lower offer ($290k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 23y 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 $165k; list at $299k implies a 81% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• 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 $257,205 (14.0% 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 44 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
3. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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. 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?
9. 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.
10. 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.
11. 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: 6.15%
• Cash-on-cash: -0.49%
• DSCR: 0.98
• GRM: 9.7

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: -11.6%
• Equity multiple: 0.56×
• Total profit: $-37,010
• Equity at exit: $44,582

10-year hold

• IRR: 3.6%
• Equity multiple: 1.32×
• Total profit: $26,974
• Equity at exit: $25,852

Cash invested: $83,720 (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: 9.7×

Monthly cashflow live

• Estimated rent: $2,572 medium
• Mortgage (P&I): −$1,568
• Tax est. 1.5%: −$374 /mo · $4,485/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$540
• Net cashflow: $-34

Break-even live

Break-even rent $2,616

Max offer price $294,022

Occupancy floor 96%

Sensitivity live

Price	-10% $172	-5% $69	+0% $-34	+5% $-138	+10% $-241
Rent	-10% $-238	-5% $-136	+0% $-34	+5% $67	+10% $169
Rate	-1.0pp $116	-0.5pp $42	base $-34	+0.5pp $-112	+1.0pp $-191

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

HOA detail condo

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

Listing history 14 events

1. 2026-03-05
   status Pending
2. 2026-01-20
   listed $299,000 Active
3. 2020-04-15
   soldstatus $165,000 Sold 481-char remark

   Show marketing remark (481 chars)

   15237R: One bedroom CO-OP w/large living room/dining room area, large Master w/double closet, fully tiled bath, newer kitchen. Near all shopping & transportation. NOTE: parking available there is a waiting list. LEVEL 1-G unit: Foyer, large living room, large dining area & galley kitchen, closets, Master bedroom w/master closet. HOA includes: gas, hot water, outside maintenance, sewer, taxes. NOTE: not sure of 1 flip tax fee or 20 down. Must be approved by Co-Op Board.

4. 2016-01-28
   historical 481-char remark

   Show marketing remark (481 chars)

   15237R: One bedroom CO-OP w/large living room/dining room area, large Master w/double closet, fully tiled bath, newer kitchen. Near all shopping & transportation. NOTE: parking available there is a waiting list. LEVEL 1-G unit: Foyer, large living room, large dining area & galley kitchen, closets, Master bedroom w/master closet. HOA includes: gas, hot water, outside maintenance, sewer, taxes. NOTE: not sure of 1 flip tax fee or 20 down. Must be approved by Co-Op Board.

5. 2016-01-27
   soldstatus $165,000 Closed 395-char remark

   Show marketing remark (395 chars)

   15237R: One bedroom CO-OP w/large living room/dining room area, large Master w/double closet, fully tiled bath, newer kitchen. Near all shopping & transportation. NOTE: parking available waiting list. Level 1 - G unit: Foyer, large living room, large dining area & galley kitchen, closets, Master bedroom w/master closet. HOA includes: gas, hot water, outside maintenance, sewer, taxes.

6. 2016-01-15
   status Pending 481-char remark

   Show marketing remark (481 chars)

   15237R: One bedroom CO-OP w/large living room/dining room area, large Master w/double closet, fully tiled bath, newer kitchen. Near all shopping & transportation. NOTE: parking available there is a waiting list. LEVEL 1-G unit: Foyer, large living room, large dining area & galley kitchen, closets, Master bedroom w/master closet. HOA includes: gas, hot water, outside maintenance, sewer, taxes. NOTE: not sure of 1 flip tax fee or 20 down. Must be approved by Co-Op Board.

7. 2015-11-01
   historical 481-char remark

   Show marketing remark (481 chars)

   15237R: One bedroom CO-OP w/large living room/dining room area, large Master w/double closet, fully tiled bath, newer kitchen. Near all shopping & transportation. NOTE: parking available there is a waiting list. LEVEL 1-G unit: Foyer, large living room, large dining area & galley kitchen, closets, Master bedroom w/master closet. HOA includes: gas, hot water, outside maintenance, sewer, taxes. NOTE: not sure of 1 flip tax fee or 20 down. Must be approved by Co-Op Board.

8. 2015-09-22
   status Pending 395-char remark

   Show marketing remark (395 chars)

   15237R: One bedroom CO-OP w/large living room/dining room area, large Master w/double closet, fully tiled bath, newer kitchen. Near all shopping & transportation. NOTE: parking available waiting list. Level 1 - G unit: Foyer, large living room, large dining area & galley kitchen, closets, Master bedroom w/master closet. HOA includes: gas, hot water, outside maintenance, sewer, taxes.

9. 2015-08-18
   historical 395-char remark

   Show marketing remark (395 chars)

   15237R: One bedroom CO-OP w/large living room/dining room area, large Master w/double closet, fully tiled bath, newer kitchen. Near all shopping & transportation. NOTE: parking available waiting list. Level 1 - G unit: Foyer, large living room, large dining area & galley kitchen, closets, Master bedroom w/master closet. HOA includes: gas, hot water, outside maintenance, sewer, taxes.

10. 2015-08-12
    price $175,000 481-char remark

    Show marketing remark (481 chars)

    15237R: One bedroom CO-OP w/large living room/dining room area, large Master w/double closet, fully tiled bath, newer kitchen. Near all shopping & transportation. NOTE: parking available there is a waiting list. LEVEL 1-G unit: Foyer, large living room, large dining area & galley kitchen, closets, Master bedroom w/master closet. HOA includes: gas, hot water, outside maintenance, sewer, taxes. NOTE: not sure of 1 flip tax fee or 20 down. Must be approved by Co-Op Board.

11. 2015-08-11
    price $175,000 395-char remark

    Show marketing remark (395 chars)

    15237R: One bedroom CO-OP w/large living room/dining room area, large Master w/double closet, fully tiled bath, newer kitchen. Near all shopping & transportation. NOTE: parking available waiting list. Level 1 - G unit: Foyer, large living room, large dining area & galley kitchen, closets, Master bedroom w/master closet. HOA includes: gas, hot water, outside maintenance, sewer, taxes.

12. 2015-07-25
    listed $189,000 Active 481-char remark

    Show marketing remark (395 chars)

    15237R: One bedroom CO-OP w/large living room/dining room area, large Master w/double closet, fully tiled bath, newer kitchen. Near all shopping & transportation. NOTE: parking available waiting list. Level 1 - G unit: Foyer, large living room, large dining area & galley kitchen, closets, Master bedroom w/master closet. HOA includes: gas, hot water, outside maintenance, sewer, taxes.

13. 2015-07-25
    listed $189,000 Active 395-char remark

    Show marketing remark (395 chars)

    15237R: One bedroom CO-OP w/large living room/dining room area, large Master w/double closet, fully tiled bath, newer kitchen. Near all shopping & transportation. NOTE: parking available waiting list. Level 1 - G unit: Foyer, large living room, large dining area & galley kitchen, closets, Master bedroom w/master closet. HOA includes: gas, hot water, outside maintenance, sewer, taxes.

14. 2003-11-02
    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 4/10 Moderate FEMA zone X (unshaded) · 23% 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: $30,865
• − Mortgage interest: −$16,749
• − Property taxes: −$4,485
• − Insurance: −$1,495
• − Repairs & maintenance: −$2,469
• − Management: −$2,469
• − Depreciation: −$8,698
• Taxable loss: −$5,501
• Est. tax savings @ 24.0%: +$1,320
• After-tax cash flow: $907/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

+131.8% since first listed

14 events — show timeline

• 2026-03-05 Pending — BNYMLS
• 2026-01-20 Listed $299,000 BNYMLS
• 2020-04-15 Sold (MLS) $165,000 BNYMLS
• 2016-01-28 Delisted — BNYMLS
• 2016-01-27 Sold (MLS) $165,000 SIBORMLS
• 2016-01-15 Pending — BNYMLS
• 2015-11-01 Delisted — BNYMLS
• 2015-09-22 Pending — SIBORMLS
• 2015-08-18 Listing Removed — SIBORMLS
• 2015-08-12 Price Changed $175,000 BNYMLS
• 2015-08-11 Price Changed $175,000 SIBORMLS
• 2015-07-25 Listed $189,000 BNYMLS
• 2015-07-25 Listed $189,000 SIBORMLS
• 2003-11-02 Listed $129,000 BNYMLS