1384 Pacific St Unit A2 · New York, NY 11216

$450,000

2 bd · 1.0 ba · 825 sqft · Condo · 87 Days on market

Built 1905 $756/mo HOA · 20% of rent ↓ 9% 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
• Cash flow +5.7/30.0
• Schools +5.0/10.0
• Rent growth +4.4/5.0
• Livability +3.8/5.0
• 1% rule +3.3/10.0
• Condition / age +2.5/5.0
• DSCR +0.1/10.0

Listing remarks

Welcome to 1384 Pacific Street, a charming 2-bedroom, 1-bathroom co-op in a contemporary low-rise building, located in the heart of Crown Heights Brooklyn. This thoughtfully designed 4-room home is perfect for those seeking a comfortable and functional urban retreat. Step into the spacious foyer, where you'll immediately notice the stylish design elements, including ceramic, laminate, tile flooring, and cozy wall-to-wall carpeting throughout. The well-lit interiors feature elegant chandeliers and recessed lighting, adding an inviting ambiance. The windowed galley kitchen is a chef's delight, outfitted with Energy Star stainless steel appliances, a gas stove, range hood, and granite countert

Key facts

• In-unit laundry
• Gas stove
• Granite countertops

Tags

• WINDOWED GALLEY KITCHEN
• GAS STOVE
• GRANITE COUNTERTOPS
• IN-UNIT LAUNDRY
• REMOTE DOORMAN SERVICE
• VIDEO INTERCOM

Property features AI

Finance

• Other: Pets not allowed in building
• Financial info: Multifamily building with 23 units
• HOA & community: Association fee of $756 per month

Exterior

• Parking: On-street parking
• Utilities: Natural gas; Property has heating and cooling
• Home design: Entry level: 1; Building has 3 stories (4 stories total)
• Construction: Lot dimensions approximately 65 x 114
• Exterior features: Building barbecue; Has view

Interior

• Kitchen: Gas cooktop; Range hood; Refrigerator; Stainless steel appliances; Granite counters; Eat-in kitchen
• Bedrooms: 4 total rooms (includes bedrooms and living areas)
• Flooring: Ceramic tile; Tile; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Central cooling (has cooling)
• Interior features: High ceilings; Recessed lighting; Chandelier; Entrance foyer; Eat-in kitchen; Granite counters; Soaking tub; Unfurnished
• Laundry & utility: Washer and dryer in unit; Energy Star qualified appliances

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $450k.

Deal economics

• At list price, monthly cash flow is $-994 ($-12k/yr) — negative.
• To cash-flow at today's rent, offer at most $306k (32.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $372k (17.4% below list).
• Recommended offer: $306k (32.0% below list) — sets the bar for cash-flow.
• Cap rate 3.8% 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 (+7.7%/yr); 120 active listings in the ZIP; 13 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 44% of the median local income ($101k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $48k of equity ($3k loan paydown + $45k 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 ~$77k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($423k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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; HOA is 20% of rent; built in 1905 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $306,144 (32.0% 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 87 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
3. Built in 1905 — 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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?
11. 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?
12. 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.
13. 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.
14. 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: 0.83% ✗
• Cap rate: 3.82%
• Cash-on-cash: -8.84%
• DSCR: 0.61
• GRM: 10.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 7.72% rent growth · sell at horizon

5-year hold

• IRR: 19.3%
• Equity multiple: 2.59×
• Total profit: $200,828
• Equity at exit: $405,396

10-year hold

• IRR: 19.1%
• Equity multiple: 6.46×
• Total profit: $687,659
• Equity at exit: $874,251

Cash invested: $126,000 (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 11216

• Home prices YoY: 3.4%
• Rents YoY: 7.7%
• Active inventory: 120
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $3,719 high
• Mortgage (P&I): −$2,360
• Tax est. 1.5%: −$562 /mo · $6,750/yr
• Insurance: −$188
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$756
• Vacancy / Maint / Mgmt: −$781
• Net cashflow: $-994

Break-even live

Break-even rent $4,978

Max offer price $306,144

Occupancy floor —

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: $112,500
• Closing costs: $13,500
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1437 Pacific St Brooklyn, NY	2.0	1.0	1000	$3,200	$3.20	24d	1	0.06mi
668 Nostrand Ave #1 Brooklyn, NY	1.0	1.0	611	$4,200	$6.87	18d	1	0.29mi
955 Sterling Pl #1936 Brooklyn, NY	1.0	1.0	540	$3,170	$5.87	20d	1	0.31mi
955 Sterling Pl Unit 415 Brooklyn, NY	2.0	1.0	680	$5,150	$7.57	24d	1	0.32mi
762 Park Pl Unit 3B Brooklyn, NY	3.0	2.0	1114	$5,400	$4.85	24d	1	0.46mi
1266 Park Pl Unit 1A Brooklyn, NY	2.0	1.5	886	$3,250	$3.67	24d	1	0.59mi
552 Prospect Pl Unit 3A Brooklyn, NY	1.0	1.0	676	$4,500	$6.66	24d	1	0.70mi
72 Van Buren St Brooklyn, NY	3.0	1.0	1000	$1,180	$1.18	24d	1	0.90mi
755 Washington Ave Brooklyn, NY	1.0	1.0	700	$1,800	$2.57	20d	1	0.96mi
545 Vanderbilt Ave Brooklyn, NY	2.0	1.0	600	$6,280	$10.47	2d	3	1.23mi
475 Clermont Ave Brooklyn, NY	2.0	1.0–2.0	807	$6,596	$8.17	3d	7	1.29mi
361 Winthrop St Brooklyn, NY	3.0	4.0	500	$1,510	$3.02	5d	1	1.35mi
338 Chauncey St Unit 3A Brooklyn, NY	2.0	1.0	900	$3,500	$3.89	24d	1	1.41mi

HOA detail condo

• Monthly dues: $756 · $9,072/yr
• Likely covers: gas
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-06-18
   days on market $450,000 Active 87 DOM
2. 2026-06-17
   days on market $450,000 Active 86 DOM
3. 2026-06-15
   days on market $450,000 Active 84 DOM
4. 2026-06-13
   days on market $450,000 Active 82 DOM
5. 2026-06-10
   days on market $450,000 Active 78 DOM
6. 2026-06-08
   days on market $450,000 Active 77 DOM
7. 2026-06-08
   days on market $450,000 Active 76 DOM
8. 2026-06-04
   days on market $450,000 Active 73 DOM
9. 2026-06-03
   remarks 699-char remark
10. 2026-06-03
    listed $450,000 Active 72 DOM

ⓘ 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 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 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $44,630
• − Mortgage interest: −$25,207
• − Property taxes: −$6,750
• − Insurance: −$3,048
• − Repairs & maintenance: −$3,570
• − Management: −$3,570
• − HOA: −$9,072
• − Depreciation: −$13,091
• Taxable loss: −$19,678
• Est. tax savings @ 24.0%: +$4,723
• After-tax cash flow: $-7,207/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): 60,685
• Household income: $101,277
• Rent vs Own: 78.7% rent · 21.3% own
• Severe rent burden: 4473.0

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 46% White 29% Hispanic / Latino 12% Two or more races 11% Asian 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Dominican 2%
• Common ancestry: Romanian 2% Lithuanian 2% Hispanic 2%
• Foreign-born: 22% · Canada, Mexico, China
• Languages at home: 80% English-only · Spanish 8% French/Haitian/Cajun 3% Other Indo-European 2%

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: ▲ 27.76%
• Current HPI: 849.9392
• Rent YoY: ▲ 7.72%
• 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

13 events — show timeline

• 2026-06-02 Relisted — RLS at REBNY
• 2025-12-29 Listed $450,000 RLS at REBNY
• 2025-12-07 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-12-06 Relisted — OneKey® MLS as Distributed by MLS Grid
• 2025-08-15 Pending — OneKey® MLS as Distributed by MLS Grid
• 2025-06-26 Price Changed $399,000 OneKey® MLS as Distributed by MLS Grid
• 2025-06-26 Price Changed $425,000 OneKey® MLS as Distributed by MLS Grid
• 2025-06-26 Price Changed $495,000 OneKey® MLS as Distributed by MLS Grid
• 2025-06-26 Price Changed $399,000 OneKey® MLS as Distributed by MLS Grid
• 2025-05-03 Price Changed $425,000 OneKey® MLS as Distributed by MLS Grid
• 2025-04-07 Price Changed $450,000 OneKey® MLS as Distributed by MLS Grid
• 2025-03-20 Price Changed $460,000 OneKey® MLS as Distributed by MLS Grid
• 2025-03-07 Listed $495,000 OneKey® MLS as Distributed by MLS Grid