111 Steuben St Unit 5E · New York, NY 11205

$750,000

1 bd · 1.0 ba · 806 sqft · Condo public records · 93 Days on market

Built 2008 $836/mo HOA · 18% of rent ↓ 4% since listing

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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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +4.7/5.0
• Cash flow +4.5/30.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• 1% rule +1.3/10.0
• DSCR +0.0/10.0

Listing remarks

Welcome to 111 Steuben Street 5E. This extra-large, sun-filled one-bedroom condo is a true standout, with beautiful light pouring in through walls of south-facing windows with wide open views in each room, the apartment is amazingly bright and inviting. The large open living space offers plenty of room for dining and flows seamlessly into the kitchen. With custom cabinetry, Bosch appliances, Caesarstone countertops, and fantastic work and storage space, the kitchen is perfect for everyday meals or for entertaining. The spacious bedroom boast a large walk-in closet and can easily fit a king-sized bed and additional furniture. The roomy bathroom features lava-stone tile, a deep soaking tu

Key facts

• Custom cabinetry
• Bosch appliances
• Walk in closet

Tags

• SOUTH FACING WINDOWS
• CUSTOM CABINETRY
• BOSCH APPLIANCES
• CAESARSTONE COUNTERTOPS
• WALK IN CLOSET
• DEEP SOAKING TUB

Property features AI

Finance

• Other: Building allows pets
• HOA & community: Monthly association fee of $836; Building has elevator(s)

Exterior

• Parking: Has garage
• Home design: Condominium in a 6-story building; Entry on level 5; Zoned R7A
• Construction: Building name: The Absolute
• Exterior features: Building roof deck; South exposure; Has a view

Interior

• Kitchen: Dishwasher
• Bedrooms: Total of 3 rooms (information provided)
• Bathrooms: 1 full bathroom
• Interior features: Walk-in closet
• Laundry & utility: In-unit washer hookup; Washer/dryer allowed

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $750k.

Deal economics

• At list price, monthly cash flow is $-2k ($-23k/yr) — negative.
• To cash-flow at today's rent, offer at most $409k (45.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $471k (37.2% below list).
• Recommended offer: $409k (45.5% below list) — sets the bar for cash-flow.
• Cap rate 3.2% vs local median 2.6% in New York — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 (+8.6%/yr); 88 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $4,712/mo this rent would consume 60% of the median local household income ($94k/yr) (locally 3544% 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 $80k of equity ($5k loan paydown + $75k appreciation (10.0% 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 ~$129k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 93 days — a 9% lower offer ($682k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 6y ago; this cycle's ask has dropped $120k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $408,859 (45.5% 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 93 days. Have you received any prior offers? Is the seller open to a 45% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 0.63% ✗
• Cap rate: 3.20%
• Cash-on-cash: -11.03%
• DSCR: 0.51
• GRM: 13.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 17.9%
• Equity multiple: 2.48×
• Total profit: $310,736
• Equity at exit: $675,659

10-year hold

• IRR: 17.8%
• Equity multiple: 6.12×
• Total profit: $1,074,193
• Equity at exit: $1,457,085

Cash invested: $210,000 (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 11205

• Home prices YoY: 2.1%
• Rents YoY: 8.6%
• Active inventory: 88
• Price-to-rent: 13.3×

Monthly cashflow live

• Estimated rent: $4,712 high
• Mortgage (P&I): −$3,933
• Tax from tax record: −$572 /mo · $6,862/yr
• Insurance: −$312
• HOA: −$836
• Vacancy / Maint / Mgmt: −$989
• Net cashflow: $-1,931

Break-even live

Break-even rent $7,156

Max offer price $408,859

Occupancy floor —

Sensitivity live

Price	-10% $-1,507	-5% $-1,719	+0% $-1,931	+5% $-2,143	+10% $-2,356
Rent	-10% $-2,303	-5% $-2,117	+0% $-1,931	+5% $-1,745	+10% $-1,559
Rate	-1.0pp $-1,553	-0.5pp $-1,740	base $-1,931	+0.5pp $-2,125	+1.0pp $-2,323

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: $187,500
• Closing costs: $22,500
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
475 Clermont Ave Brooklyn, NY	2.0	1.0–2.0	807	$5,144	$6.37	4d	7	0.79mi
545 Vanderbilt Ave Brooklyn, NY	2.0	1.0	600	$4,910	$8.18	3d	3	0.84mi
151 S Elliott Pl Brooklyn, NY	1.0–2.0	1.0–2.0	655	$4,670	$7.13	2d	2	0.90mi
196 Willoughby St Brooklyn, NY	2.0	1.0–2.0	717	$6,064	$8.46	2d	8	0.91mi
482 Kent Ave Brooklyn, NY	2.0	1.0–2.0	750	$6,545	$8.73	3d	3	0.98mi
478 Kent Ave Brooklyn, NY	2.0	1.0–2.0	775	$5,920	$7.64	3d	3	0.98mi
11 Wharf Way Brooklyn, NY	1.0	1.0	610	$4,870	$7.98	2d	2	1.01mi
540 Fulton St #1729 Brooklyn, NY	3.0	1.0–2.0	750	$5,737	$7.65	25d	4	1.02mi
343 Gold St Brooklyn, NY	3.0	1.0–2.0	903	$5,053	$5.59	5d	1	1.04mi
461 Dean St Brooklyn, NY	1.0	1.0	781	$5,320	$6.81	5d	5	1.05mi
333 Schermerhorn St Brooklyn, NY	1.0	1.0	585	$6,782	$11.58	4d	16	1.05mi
214 Duffield St Brooklyn, NY	3.0	1.0–2.0	956	$4,347	$4.55	2d	1	1.14mi
100 Willoughby St Brooklyn, NY	3.0	1.0–2.0	892	$5,232	$5.87	8d	1	1.15mi
250 Union Ave #2119 Brooklyn, NY	1.0–2.0	1.0	590	$3,500	$5.93	25d	2	1.16mi
111 Lawrence St Brooklyn, NY	3.0	1.0–2.0	950	$4,356	$4.58	2d	24	1.21mi
150 Lawrence St Brooklyn, NY	1.0–2.0	1.0–2.0	700	$4,920	$7.03	2d	2	1.24mi
68 Gold St New York, NY	1.0–2.0	1.0	700	$3,610	$5.16	25d	2	1.26mi
552 Prospect Pl Unit 3A Brooklyn, NY	1.0	1.0	676	$4,500	$6.66	25d	1	1.31mi
565 Nostrand Ave Unit 1 Brooklyn, NY	—	1.0	600	$2,000	$3.33	6d	1	1.31mi
160 Front St Brooklyn, NY	1.0	1.0	597	$5,191	$8.70	2d	2	1.34mi
755 Washington Ave Brooklyn, NY	1.0	1.0	700	$1,800	$2.57	21d	1	1.37mi
100 Jay St Unit 6B Brooklyn, NY	1.0	1.0	800	$4,600	$5.75	25d	1	1.38mi
668 Nostrand Ave #1 Brooklyn, NY	1.0	1.0	611	$4,200	$6.87	19d	1	1.43mi
200 Montague St #1516 Brooklyn, NY	1.0	1.0	600	$7,500	$12.50	21d	1	1.48mi

HOA detail condo

• Monthly dues: $836 · $10,032/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-04
   days on market $750,000 Active 93 DOM
2. 2026-06-03
   days on market $750,000 Active 92 DOM
3. 2026-06-01
   days on market $750,000 Active 90 DOM
4. 2026-05-31
   days on market $750,000 Active 89 DOM
5. 2026-05-15
   status Active
6. 2026-05-15
   price $750,000
7. 2026-04-24
   price $775,000
8. 2026-03-20
   status Active
9. 2026-03-20
   price $799,000
10. 2026-02-05
    listed $870,000 Active
11. 2020-10-30
    historical
12. 2020-09-30
    historical
13. 2020-07-23
    listed $799,000
14. 2020-07-23
    listed $799,000 Active
15. 2020-07-23
    listed $799,000 Active
16. 2017-08-30
    soldstatus $785,000

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

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $6,862 · $572/mo
• Projected year-2 tax: $9,768 · $814/mo
• Expected delta: +$2,907/yr (+$242/mo · 42.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $56,541
• − Mortgage interest: −$42,012
• − Property taxes: −$6,862
• − Insurance: −$3,750
• − Repairs & maintenance: −$4,523
• − Management: −$4,523
• − HOA: −$10,032
• − Depreciation: −$21,818
• Taxable loss: −$36,979
• Est. tax savings @ 24.0%: +$8,875
• After-tax cash flow: $-14,298/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): 51,676
• Household income: $93,887
• Rent vs Own: 71.9% rent · 28.1% own
• Severe rent burden: 3544.0

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 0.66)
• Race & ethnicity: White 52% Black 20% Hispanic / Latino 15% Two or more races 10% Asian 7%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5% Dominican 3%
• Common ancestry: Italian 4% Scandinavian 3% Romanian 2%
• Foreign-born: 16% · Canada, China, South Korea
• Languages at home: 57% English-only · German/W. Germanic 21% Spanish 11% Chinese 4%

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: ▲ 12.40%
• Current HPI: 605.3512
• Rent YoY: ▲ 8.61%
• 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

-4.5% since first listed

12 events — show timeline

• 2026-05-15 Relisted — RLS at REBNY
• 2026-05-15 Price Changed $750,000 RLS at REBNY
• 2026-04-24 Price Changed $775,000 RLS at REBNY
• 2026-03-20 Relisted — RLS at REBNY
• 2026-03-20 Price Changed $799,000 RLS at REBNY
• 2026-02-05 Listed $870,000 RLS at REBNY
• 2020-10-30 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2020-09-30 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2020-07-23 Listed $799,000 OneKey® MLS as Distributed by MLS Grid
• 2020-07-23 Listed $799,000 RLS at REBNY
• 2020-07-23 Listed $799,000 RLS at REBNY
• 2017-08-30 Sold (Public Records) $785,000 Public Records

Property tax history

+2.2%/yr

Latest (2025): $6,862 · +3.9% YoY. Source: county tax records.