2944 W 5th St Unit 23J · New York, NY 11224

$499,000

2 bd · 1.5 ba · 1,100 sqft · Condo · 39 Days on market

Built 1964

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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 +10.8/30.0
• ARV discount +7.5/15.0
• Appreciation +7.5/10.0
• Schools +5.0/10.0
• Rent growth +4.3/5.0
• Livability +3.8/5.0
• 1% rule +3.2/10.0
• DSCR +3.1/10.0
• Condition / age +2.5/5.0

Listing remarks

Please note: some photos may be virtually staged or digitally retouched for presentation purposes. BRIGHTON BEACH AREA TRUMP VILLAGE SEC 4 2 Bedroom / 1.5 Bath Large balcony facing the courtyard Renovated kitchen and bathrooms, custom closets Maintenance includes all major utilities: heat, gas, electricity, and property taxes. Each A/C unit is $25 per month. Building amenities include: 24-hour security Children’s playroom Amazon lockers Parking is available via waitlist or can be purchased through management. Pet friendly Only 10% down Board approval required Fantastic location just minutes from the beach, transportation, restaurants, and shopping.

Key facts

• Amazon lockers
• Renovated bathrooms
• Renovated kitchen

Tags

• RENOVATED KITCHEN
• RENOVATED BATHROOMS
• CUSTOM CLOSETS
• 24 HOUR SECURITY
• CHILDREN'S PLAYROOM
• AMAZON LOCKERS

Property features AI

Finance

• Other: Additional fee applies ($25) which includes air conditioning; Co-op shares associated with the unit
• Financial info: Financing available: Bank mortgage or cash; Typical down payment requirement noted (10%); Flip tax: 5%
• HOA & community: Monthly maintenance/ common fee; Management company: Trump Village Sec 4; Manager contact available

Exterior

• Parking: Street parking (wait-list)
• Security: Card-operated building entry; Resident superintendent
• Utilities: Electric; Gas; Heat; Water
• Home design: Residential unit in a detached building; Located on the 23rd floor
• Construction: Detached building
• Exterior features: Terrace; Balcony; Pets allowed (cats and dogs); Handicap access available

Interior

• Kitchen: Stove; Refrigerator; Microwave; Dishwasher
• Bedrooms: 2 bedrooms on the first floor (including a master bedroom)
• Flooring: Other floors (see remarks)
• Bathrooms: 1 full bathroom; 1 half bathroom (both bathrooms located on the first floor)
• Heating & cooling: Heat; Central air conditioning (2 A/C units)
• Interior features: Central air conditioning (2 A/C units); Dishwasher; Elevator; Laundry area (building card-operated laundry); Microwave; Refrigerator; Stove; Terrace; Other flooring (see remarks)
• Laundry & utility: Laundry area (card-operated in building)

🏢 Co-op / cooperative unit. The $499,000 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/1.5-bath condo listed at $499k.

Deal economics

• At list price, monthly cash flow is $-654 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $404k (19.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $408k (18.3% below list).
• Recommended offer: $404k (19.0% below list) — sets the bar for cash-flow.
• Cap rate 5.7% 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); Is 98 Bay Academy (math 96% / reading 96%, grade A+, #2 of 729 statewide, top 0%, 1,488 students, 63% 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 (+7.0%/yr); 114 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $4,078/mo this rent would consume 112% of the median local household income ($44k/yr) (locally 4426% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $28k of equity ($3k loan paydown + $25k appreciation (5.0% local appreciation)).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($484k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wind risk, 77% 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 $404,418 (19.0% 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 39 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. 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?
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: 0.82% ✗
• Cap rate: 5.75%
• Cash-on-cash: -1.95%
• DSCR: 0.91
• GRM: 10.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.98% appreciation · 7.03% rent growth · sell at horizon

5-year hold

• IRR: 9.9%
• Equity multiple: 1.65×
• Total profit: $90,397
• Equity at exit: $282,231

10-year hold

• IRR: 13.0%
• Equity multiple: 3.50×
• Total profit: $349,917
• Equity at exit: $486,642

Cash invested: $139,720 (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 11224

• Home prices YoY: 1.0%
• Rents YoY: 7.0%
• Active inventory: 114
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $4,078 high
• Mortgage (P&I): −$2,617
• Tax est. 1.5%: −$624 /mo · $7,485/yr
• Insurance: −$208
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$856
• Net cashflow: $-654

Break-even live

Break-even rent $4,905

Max offer price $404,418

Occupancy floor —

Sensitivity live

Price	-10% $-309	-5% $-481	+0% $-654	+5% $-826	+10% $-998
Rent	-10% $-976	-5% $-815	+0% $-654	+5% $-493	+10% $-331
Rate	-1.0pp $-402	-0.5pp $-527	base $-654	+0.5pp $-783	+1.0pp $-914

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: $124,750
• Closing costs: $14,970
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
532 Neptune Ave Brooklyn, NY	1.0–3.0	1.0–2.0	948	$4,550	$4.80	0d	8	0.10mi
2971 Shell Rd Unit 602 Brooklyn, NY	3.0	2.0	1301	$5,299	$4.07	26d	1	0.18mi
2971 Shell Rd Unit 720 Brooklyn, NY	2.0	2.0	920	$4,100	$4.46	26d	1	0.18mi
2971 Shell Rd Unit 704 Brooklyn, NY	2.0	1.0	826	$3,950	$4.78	26d	1	0.18mi
2971 Shell Rd Unit 612 Brooklyn, NY	2.0	2.0	907	$4,150	$4.58	26d	1	0.18mi
2971 Shell Rd Unit 711 Brooklyn, NY	2.0	2.0	907	$4,200	$4.63	26d	1	0.18mi
2971 Shell Rd Unit 508 Brooklyn, NY	2.0	2.0	930	$4,099	$4.41	26d	1	0.18mi
2971 Shell Rd Unit 406 Brooklyn, NY	2.0	2.0	920	$3,550	$3.86	26d	1	0.18mi
2957 Shell Rd Brooklyn, NY	3.0	2.0	1292	$5,550	$4.30	26d	1	0.19mi
3000 Ocean Pkwy Brooklyn, NY	2.0	2.0	1130	$3,775	$3.34	20d	2	0.28mi
1515 Surf Ave Brooklyn, NY	1.0–2.0	1.0	706	$5,195	$7.35	0d	16	0.48mi
2538 E 2nd St Unit 2 Brooklyn, NY	3.0	1.0	1100	$2,600	$2.36	26d	1	0.73mi
2483 W 16th St Brooklyn, NY	1.0	1.0	800	$1,800	$2.25	22d	1	0.83mi
8642 26th Ave Unit 3 Brooklyn, NY	3.0	1.0	1100	$3,100	$2.82	16d	1	1.39mi

HOA detail condo

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

Listing history 15 events

1. 2026-06-21
   days on market $499,000 Active 39 DOM
2. 2026-06-18
   days on market $499,000 Active 36 DOM
3. 2026-06-17
   days on market $499,000 Active 35 DOM
4. 2026-06-16
   days on market $499,000 Active 34 DOM
5. 2026-06-15
   days on market $499,000 Active 33 DOM
6. 2026-06-13
   pricedays on market $499,000 Active 31 DOM
7. 2026-06-10
   days on market $519,000 Active 27 DOM
8. 2026-06-08
   days on market $519,000 Active 26 DOM
9. 2026-06-08
   days on market $519,000 Active 25 DOM
10. 2026-06-04
    days on market $519,000 Active 22 DOM
11. 2026-06-03
    days on market $519,000 Active 21 DOM
12. 2026-06-02
    days on market $519,000 Active 20 DOM
13. 2026-06-01
    days on market $519,000 Active 19 DOM
14. 2026-05-31
    days on market $519,000 Active 18 DOM
15. 2026-05-13
    listed $519,000 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 6/10 Major FEMA zone AE · 65% 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 77% 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: $48,932
• − Mortgage interest: −$27,952
• − Property taxes: −$7,485
• − Insurance: −$7,614
• − Repairs & maintenance: −$3,915
• − Management: −$3,915
• − Depreciation: −$14,516
• Taxable loss: −$16,463
• Est. tax savings @ 24.0%: +$3,951
• After-tax cash flow: $-3,892/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): 50,822
• Household income: $43,648
• Rent vs Own: 72.7% rent · 27.3% own
• Severe rent burden: 4426.0

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 0.68)
• Race & ethnicity: White 48% Black 22% Hispanic / Latino 19% Asian 8% Two or more races 7%
• Hispanic origin (detail): Mexican 5% Puerto Rican 8% Dominican 2%
• Common ancestry: Scotch-Irish 10% Subsaharan African 7% Romanian 1%
• Foreign-born: 48% · Canada, China
• Languages at home: 42% English-only · Russian/Polish/Slavic 32% Spanish 11% Chinese 5%

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: ▲ 4.98%
• Current HPI: 505.1405
• Rent YoY: ▲ 7.03%
• 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

• 2026-05-13 Listed $519,000 BNYMLS