2140 Knapp St Unit 4D · New York, NY 11229

$259,000

2 bd · 1.0 ba · 950 sqft · Condo · 251 Days on market

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Why this score? — see what drove the B- 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 +26.3/30.0
• DSCR +8.9/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• 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 MLS

BEAUTIFUL LG 2 BDM APT, MINT COND, EIK W/WNDOW ANDDINETTE AREA, 5 BIG CLSTS, 24 HR SECURITY, A LOTOF CLSTS, NEAR SHOPPING AND TRANSPT, OWNER VERYMOTIVATED, MUST SELL

Key facts

• Renovated bathroom
• Fitness center
• Cast-iron bathtub

Tags

• RENOVATED EAT-IN KITCHEN
• STAINLESS STEEL APPLIANCES
• RENOVATED BATHROOM
• CAST-IRON BATHTUB
• FITNESS CENTER
• ON-SITE LAUNDRY FACILITIES

Property features AI

Finance

• Other: Pets are not allowed; Co-op shares: 101.00
• Financial info: Maintenance/common fee of $1,094; Additional monthly fee $255 (includes air conditioning, dishwasher, parking, storage); Financing available: Bank mortgage or cash; Flip tax: 7% fee on sale
• HOA & community: Monthly maintenance/common fee; Maintenance/common fee applies; Management: FirstService Residential; Manager phone available

Exterior

• Parking: Wait-list for parking
• Security: Secure lobby; Intercom door; Security patrol
• Utilities: Electric; Gas; Heat; Water; Sewer; Septic; Sprinkler system; Other utilities available
• Home design: Residential property; Unit on 4th floor
• Construction: Exterior construction details not provided
• Exterior features: Secure lobby; Intercom door; Recreational room; Exercise room; Storage rooms; Security patrol; Building with 48 units

Interior

• Kitchen: Eat-in kitchen; Dishwasher; Microwave; Refrigerator; Stove
• Bedrooms: Two bedrooms on the first floor
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Heat available; Three window A/C units
• Interior features: Window A/C units (3); Dishwasher; Elevator access; Garage door opener(s); Microwave; Refrigerator; Stove
• Laundry & utility: Card-operated laundry in building

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $259k.

Deal economics

• At list price, monthly cash flow is $600 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $259k).
• Recommended offer: $228k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.4% 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 $73k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 251 days — a 12% lower offer ($228k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 27y ago; this cycle's ask has dropped $16k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; 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 $227,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 251 days. Have you received any prior offers? Is the seller open to a 12% 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: 1.20% ✓
• Cap rate: 9.38%
• Cash-on-cash: 11.03%
• DSCR: 1.49
• GRM: 6.9

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: 4.3%
• Equity multiple: 1.18×
• Total profit: $12,788
• Equity at exit: $38,618

10-year hold

• IRR: 18.1%
• Equity multiple: 2.87×
• Total profit: $135,525
• Equity at exit: $22,394

Cash invested: $72,520 (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 11229

• Rents YoY: 15.8%
• Active inventory: 355
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $3,110 medium
• Mortgage (P&I): −$1,358
• Tax est. 1.5%: −$324 /mo · $3,885/yr
• Insurance: −$108
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$653
• Net cashflow: $600

Break-even live

Break-even rent $2,350

Max offer price $259,000

Occupancy floor 76%

Sensitivity live

Price	-10% $779	-5% $690	+0% $600	+5% $511	+10% $421
Rent	-10% $355	-5% $477	+0% $600	+5% $723	+10% $846
Rate	-1.0pp $731	-0.5pp $666	base $600	+0.5pp $533	+1.0pp $465

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: $64,750
• Closing costs: $7,770
• 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	1.12mi
3000 Emmons Ave Unit 5 Brooklyn, NY	2.0	2.0	840	$4,085	$4.86	25d	1	1.16mi

HOA detail condo

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

Listing history 14 events

1. 2026-06-18
   days on market $259,000 Active 251 DOM
2. 2026-06-17
   days on market $259,000 Active 250 DOM
3. 2026-06-15
   days on market $259,000 Active 248 DOM
4. 2026-06-13
   days on market $259,000 Active 246 DOM
5. 2026-06-10
   days on market $259,000 Active 242 DOM
6. 2026-06-08
   days on market $259,000 Active 241 DOM
7. 2026-06-03
   days on market $259,000 Active 236 DOM
8. 2026-06-01
   days on market $259,000 Active 234 DOM
9. 2026-05-31
   days on market $259,000 Active 233 DOM
10. 2026-04-29
    price $259,000
11. 2026-04-10
    status Active
12. 2026-04-10
    historical
13. 2025-10-09
    listed $275,000 Active
14. 1999-02-15
    listed $55,000 165-char remark

    Show marketing remark (165 chars)

    BEAUTIFUL LG 2 BDM APT, MINT COND, EIK W/WNDOW ANDDINETTE AREA, 5 BIG CLSTS, 24 HR SECURITY, A LOTOF CLSTS, NEAR SHOPPING AND TRANSPT, OWNER VERYMOTIVATED, MUST SELL

ⓘ 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) · 60% chance over 30 yrs
• 🔥 Wildfire 2/10 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: $37,317
• − Mortgage interest: −$14,508
• − Property taxes: −$3,885
• − Insurance: −$2,092
• − Repairs & maintenance: −$2,985
• − Management: −$2,985
• − Depreciation: −$7,535
• Taxable income: $3,326
• Est. tax owed @ 24.0%: −$798
• After-tax cash flow: $6,406/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

+370.9% since first listed

5 events — show timeline

• 2026-04-29 Price Changed $259,000 BNYMLS
• 2026-04-10 Relisted — BNYMLS
• 2026-04-10 Delisted — BNYMLS
• 2025-10-09 Listed $275,000 BNYMLS
• 1999-02-15 Listed $55,000 BNYMLS