2615 Avenue O Unit 5M · New York, NY 11210

$209,000

1 bd · 1.0 ba · 625 sqft · Condo · 96 Days on market

↓ 9% since listing

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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 +23.3/30.0
• DSCR +7.5/10.0
• ARV discount +7.5/15.0
• 1% rule +6.1/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

1-bedroom coop in great location, great size bedrooms, living room, dinning area, kitchen, and three spacious closets. Located on the quiet side of the building, this 5nd-floor unit provides tranquility and convenience. Low maintenance of $485 covers taxes, heat, and water. Just minutes away from Ave O, you'll have easy access to shops, cafes, and multiple transit options. Covered parking available via waiting list ($100 /month). Cash deal.

Key facts

• Listed 95 days

Property features AI

Finance

• Other: Flip tax applies
• Financial info: Exchange considered; Cash offers accepted
• HOA & community: Monthly maintenance common fee; Maintenance common fee required; Management by Rokowsky Management; On-site manager available; Pets allowed (cats and dogs); Handicap access available; Co-op shares allocated

Exterior

• Parking: Wait-list parking
• Security: Secure lobby; Intercom door
• Utilities: Heat included; Water included; Sewer included; Other utilities
• Home design: Residential unit; Located on 5th floor
• Construction: Multifamily building
• Exterior features: Secure lobby; Intercom door; Building has 42 units

Interior

• Kitchen: Stove; Refrigerator
• Bedrooms: 1 bedroom on the first floor
• Flooring: Hardwood floors; Tile floors
• Bathrooms: 1 full bathroom on the first floor
• Heating & cooling: Steam/radiator heat; Gas heating fuel; 2 AC units; Hot water coil in boiler
• Interior features: Elevator; Window treatments; Other interior features
• Laundry & utility: Card-operated laundry in building

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $209k.

Deal economics

• At list price, monthly cash flow is $317 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $209k).
• Recommended offer: $190k (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 (+2.1%/yr); 165 active listings in the ZIP; solid renter incomes; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• This rent runs 33% of the median local income ($84k/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 $1k of loan paydown is wiped out by about $6k 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 96 days — a 9% lower offer ($190k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; 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 $190,190 (9.0% below list)

Questions for the listing agent

1. It's been on market 96 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: 1.11% ✓
• Cap rate: 8.49%
• Cash-on-cash: 7.85%
• DSCR: 1.35
• GRM: 7.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.11% rent growth · sell at horizon

5-year hold

• IRR: -7.3%
• Equity multiple: 0.73×
• Total profit: $-15,683
• Equity at exit: $31,163

10-year hold

• IRR: 1.1%
• Equity multiple: 1.07×
• Total profit: $4,337
• Equity at exit: $18,071

Cash invested: $58,520 (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 11210

• Rents YoY: 2.1%
• Active inventory: 165
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $2,313 medium
• Mortgage (P&I): −$1,096
• Tax est. 1.5%: −$261 /mo · $3,135/yr
• Insurance: −$87
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$486
• Net cashflow: $317

Break-even live

Break-even rent $1,912

Max offer price $209,000

Occupancy floor 81%

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: $52,250
• Closing costs: $6,270
• Reserves months: —
• Total cash needed: —

HOA detail condo

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

Listing history 23 events

1. 2026-06-18
   days on market $209,000 Active 96 DOM
2. 2026-06-17
   days on market $209,000 Active 95 DOM
3. 2026-06-15
   days on market $209,000 Active 93 DOM
4. 2026-06-13
   days on market $209,000 Active 91 DOM
5. 2026-06-10
   days on market $209,000 Active 87 DOM
6. 2026-06-08
   days on market $209,000 Active 86 DOM
7. 2026-06-08
   days on market $209,000 Active 85 DOM
8. 2026-06-04
   days on market $209,000 Active 82 DOM
9. 2026-06-03
   days on market $209,000 Active 81 DOM
10. 2026-06-01
    days on market $209,000 Active 79 DOM
11. 2026-05-31
    remarks 444-char remark
12. 2026-05-31
    days on market $209,000 Active 78 DOM
13. 2026-03-14
    listed $209,000 Active
14. 2024-12-12
    historical
15. 2024-06-06
    price $229,999
16. 2023-12-20
    listed $260,000 Active
17. 2023-12-11
    historical
18. 2023-09-22
    price $209,999
19. 2023-09-07
    price $209,999
20. 2023-08-02
    price $220,000
21. 2023-08-02
    price $220,000
22. 2023-07-04
    price $230,000
23. 2023-07-04
    price $230,000

ⓘ 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 7/10 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 77% 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: $27,757
• − Mortgage interest: −$11,707
• − Property taxes: −$3,135
• − Insurance: −$1,842
• − Repairs & maintenance: −$2,221
• − Management: −$2,221
• − Depreciation: −$6,080
• Taxable income: $552
• Est. tax owed @ 24.0%: −$132
• After-tax cash flow: $3,666/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): 57,915
• Household income: $83,692
• Rent vs Own: 55.8% rent · 44.2% own
• Severe rent burden: 3513.0

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: Black 50% White 30% Two or more races 8% Hispanic / Latino 7% Asian 5%
• Hispanic origin (detail): Puerto Rican 2% Dominican 1%
• Common ancestry: Hispanic 12% Romanian 2% Scotch-Irish 2%
• Foreign-born: 39% · Canada, China, Mexico
• Languages at home: 67% English-only · French/Haitian/Cajun 13% Spanish 5% Other Indo-European 3%

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: ▼ -831.01%
• Current HPI: 389.9293
• Rent YoY: ▲ 2.11%
• 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

-9.1% since first listed

11 events — show timeline

• 2026-03-14 Listed $209,000 BNYMLS
• 2024-12-12 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-06-06 Price Changed $229,999 BNYMLS
• 2023-12-20 Listed $260,000 OneKey® MLS as Distributed by MLS Grid
• 2023-12-11 Coming Soon — OneKey® MLS as Distributed by MLS Grid
• 2023-09-22 Price Changed $209,999 BNYMLS
• 2023-09-07 Price Changed $209,999 RLS at REBNY
• 2023-08-02 Price Changed $220,000 BNYMLS
• 2023-08-02 Price Changed $220,000 RLS at REBNY
• 2023-07-04 Price Changed $230,000 BNYMLS
• 2023-07-04 Price Changed $230,000 RLS at REBNY