1213 Avenue Z Unit D24 · New York, NY 11234

$339,000

1 bd · 1.0 ba · 800 sqft · Condo · 72 Days on market

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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 +18.3/30.0
• ARV discount +7.5/15.0
• DSCR +5.7/10.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• 1% rule +4.9/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

-Gorgeous, Large 1 Bedroom Coop in Sheepshead Bay. Luxury building with Laundry area, Pool, Gated Playground Area, and Doorman Security. This unit was renovated 3 years ago, with hardwood floors, stainless steel appliances, Tile floor & walls in the bathroom, Kitchen tiled from cabinets to floors, Oversized bedroom, total 4 large closets (2 step-in), Wait list for parking, Low maintenance. 2 flip tax fee, 22 down payment required. Nearby to the B & Q trains and Bus transportation. All offers submitted with mortgage pre-qualification and buyer financial profile.

Key facts

• Bbq and picnic area
• Olympic-sized pool
• Renovated co-op

Tags

• RENOVATED CO-OP
• OPEN-CONCEPT LAYOUT
• NIGHT SECURITY PATROL
• GYM
• OLYMPIC-SIZED POOL
• BBQ AND PICNIC AREA

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $339k.

Deal economics

• At list price, monthly cash flow is $241 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $335k (1.0% below list).
• Recommended offer: $319k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.4% 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 (+16.2%/yr); 459 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• This rent runs 41% of the median local income ($97k/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 $10k 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 $95k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($319k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y 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 $275k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $318,660 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% 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: 0.99% ✗
• Cap rate: 7.38%
• Cash-on-cash: 3.89%
• DSCR: 1.17
• GRM: 8.4

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: -5.9%
• Equity multiple: 0.77×
• Total profit: $-21,751
• Equity at exit: $50,546

10-year hold

• IRR: 9.1%
• Equity multiple: 1.86×
• Total profit: $81,906
• Equity at exit: $29,311

Cash invested: $94,920 (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 11234

• Rents YoY: 16.2%
• Active inventory: 459
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $3,355 high
• Mortgage (P&I): −$1,778
• Tax est. 1.5%: −$424 /mo · $5,085/yr
• Insurance: −$141
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$705
• Net cashflow: $241

Break-even live

Break-even rent $3,050

Max offer price $339,000

Occupancy floor 88%

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: $84,750
• Closing costs: $10,170
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3000 Emmons Ave Unit 1 Brooklyn, NY	—	1.0	536	$3,273	$6.11	24d	1	1.04mi
3000 Emmons Ave Unit 5 Brooklyn, NY	2.0	2.0	840	$4,085	$4.86	24d	1	1.04mi
532 Neptune Ave Brooklyn, NY	1.0–3.0	1.0–2.0	948	$3,400	$3.58	7d	8	1.09mi
2971 Shell Rd Unit 406 Brooklyn, NY	2.0	2.0	920	$3,550	$3.86	24d	1	1.11mi
2971 Shell Rd Unit 711 Brooklyn, NY	2.0	2.0	907	$4,200	$4.63	24d	1	1.11mi
2971 Shell Rd Unit 612 Brooklyn, NY	2.0	2.0	907	$4,150	$4.58	24d	1	1.11mi
2971 Shell Rd Unit 508 Brooklyn, NY	2.0	2.0	930	$4,099	$4.41	24d	1	1.11mi
2971 Shell Rd Unit 720 Brooklyn, NY	2.0	2.0	920	$4,100	$4.46	24d	1	1.11mi
2971 Shell Rd Unit 704 Brooklyn, NY	2.0	1.0	826	$3,950	$4.78	24d	1	1.11mi
3112 Emmons Ave Unit 203 Brooklyn, NY	1.0	1.0	734	$3,200	$4.36	24d	1	1.19mi
2483 W 16th St Brooklyn, NY	1.0	1.0	800	$1,800	$2.25	20d	1	1.43mi

HOA detail condo

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

Listing history 7 events

1. 2026-01-22
   status Pending
2. 2025-12-01
   price $339,000
3. 2025-11-11
   listed $349,000 Active
4. 2020-04-15
   soldstatus $275,000 Sold 575-char remark

   Show marketing remark (575 chars)

   -Gorgeous, Large 1 Bedroom Coop in Sheepshead Bay. Luxury building with Laundry area, Pool, Gated Playground Area, and Doorman Security. This unit was renovated 3 years ago, with hardwood floors, stainless steel appliances, Tile floor & walls in the bathroom, Kitchen tiled from cabinets to floors, Oversized bedroom, total 4 large closets (2 step-in), Wait list for parking, Low maintenance. 2 flip tax fee, 22 down payment required. Nearby to the B & Q trains and Bus transportation. All offers submitted with mortgage pre-qualification and buyer financial profile.

5. 2016-11-30
   historical 575-char remark

   Show marketing remark (575 chars)

   -Gorgeous, Large 1 Bedroom Coop in Sheepshead Bay. Luxury building with Laundry area, Pool, Gated Playground Area, and Doorman Security. This unit was renovated 3 years ago, with hardwood floors, stainless steel appliances, Tile floor & walls in the bathroom, Kitchen tiled from cabinets to floors, Oversized bedroom, total 4 large closets (2 step-in), Wait list for parking, Low maintenance. 2 flip tax fee, 22 down payment required. Nearby to the B & Q trains and Bus transportation. All offers submitted with mortgage pre-qualification and buyer financial profile.

6. 2016-10-10
   status Pending 575-char remark

   Show marketing remark (575 chars)

   -Gorgeous, Large 1 Bedroom Coop in Sheepshead Bay. Luxury building with Laundry area, Pool, Gated Playground Area, and Doorman Security. This unit was renovated 3 years ago, with hardwood floors, stainless steel appliances, Tile floor & walls in the bathroom, Kitchen tiled from cabinets to floors, Oversized bedroom, total 4 large closets (2 step-in), Wait list for parking, Low maintenance. 2 flip tax fee, 22 down payment required. Nearby to the B & Q trains and Bus transportation. All offers submitted with mortgage pre-qualification and buyer financial profile.

7. 2016-08-18
   listed $275,000 Active 575-char remark

   Show marketing remark (575 chars)

   -Gorgeous, Large 1 Bedroom Coop in Sheepshead Bay. Luxury building with Laundry area, Pool, Gated Playground Area, and Doorman Security. This unit was renovated 3 years ago, with hardwood floors, stainless steel appliances, Tile floor & walls in the bathroom, Kitchen tiled from cabinets to floors, Oversized bedroom, total 4 large closets (2 step-in), Wait list for parking, Low maintenance. 2 flip tax fee, 22 down payment required. Nearby to the B & Q trains and Bus transportation. All offers submitted with mortgage pre-qualification and buyer financial profile.

ⓘ 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 (shaded) · 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 72% 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: $40,259
• − Mortgage interest: −$18,989
• − Property taxes: −$5,085
• − Insurance: −$2,492
• − Repairs & maintenance: −$3,221
• − Management: −$3,221
• − Depreciation: −$9,862
• Taxable loss: −$2,611
• Est. tax savings @ 24.0%: +$627
• After-tax cash flow: $3,521/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): 83,187
• Household income: $97,479
• Rent vs Own: 31.7% rent · 68.3% own
• Severe rent burden: 2384.0

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 0.69)
• Race & ethnicity: Black 42% White 35% Hispanic / Latino 10% Asian 8% Two or more races 7%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4%
• Common ancestry: Hispanic 8% Scotch-Irish 3% Romanian 2%
• Foreign-born: 35% · Canada, China, Mexico
• Languages at home: 65% English-only · French/Haitian/Cajun 9% Spanish 7% Russian/Polish/Slavic 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: ▼ -667.47%
• Current HPI: 318.0416
• Rent YoY: ▲ 16.21%
• 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

+23.3% since first listed

7 events — show timeline

• 2026-01-22 Pending — BNYMLS
• 2025-12-01 Price Changed $339,000 BNYMLS
• 2025-11-11 Listed $349,000 BNYMLS
• 2020-04-15 Sold (MLS) $275,000 BNYMLS
• 2016-11-30 Delisted — BNYMLS
• 2016-10-10 Pending — BNYMLS
• 2016-08-18 Listed $275,000 BNYMLS