1165 E 54th St Unit 2P · New York, NY 11234

$228,000

1 bd · 1.0 ba · 825 sqft · Condo · 60 Days on market

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• 1% rule +6.1/10.0
• Cash flow +5.1/30.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Unit #2P in Kings Village is the top choice, featuring around 850 square feet of expertly designed living space. This one-bedroom apartment has been renovated and ready to move into. There is an incentive from the preferred lender to assist with Closing Costs. Step into a foyer leading to a spacious living area, ideal for a full living room setup. The kitchen, equipped with stainless steel appliances, offers modern convenience. Adjacent, the dining area can accommodate a table or serve as a home office. The primary bedroom, with ample closet space, fits a king-sized bed and more. Kings Village provides a pre-war elevator building with a part-time doorman, porters, and laundry facilities. Although there's a waitlist, parking is available. Conveniently located next to the B46 route, commuting is a breeze with easy access to the 2/5 trains at Flatbush Brooklyn College and Newkirk Avenue stops. Please note, that pets are not allowed. A 10% Down Payment option is available for buyers. Also, there is an assessment for $385.36.

Key facts

• Gallery kitchen
• Listed 60 days

Tags

• FULLY RENOVATED BATHROOM
• GALLERY KITCHEN
• STAINLESS STEEL APPLIANCES
• ON SITE LAUNDRY FACILITY
• DEDICATED PACKAGE ROOM

Property features AI

Finance

• Other: Co-op shares noted
• Financial info: Exchange considered, bank mortgage or cash financing accepted; Flip tax of 20% applies
• HOA & community: Monthly maintenance fee includes assessments; Maintenance/common fee listed; Managed by Kings Village; On-site manager available; Pets allowed (cats and dogs; breed restrictions); Handicap access available

Exterior

• Parking: Street parking (wait-list)
• Security: Secure lobby; Card-operated door
• Utilities: Gas; Heat (baseboard); Water; Sewer; Septic; Sprinkler system
• Home design: Detached residential building; Second-floor unit (floor 2)
• Construction: Detached building
• Exterior features: Secure lobby; Card-operated door; Sprinkler system; Water; Sewer; Gas; Septic

Interior

• Kitchen: Eat-in kitchen; Dishwasher; Microwave; Refrigerator; Stove
• Bedrooms: One bedroom on the first floor
• Flooring: Carpeting; Hardwood floors
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Baseboard heat; No AC units
• Interior features: Dishwasher; Microwave; Refrigerator; Stove; Laundry area; Window treatments
• Laundry & utility: Laundry area

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $228k.

Deal economics

• At list price, monthly cash flow is $-524 ($-6k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $228k).
• Recommended offer: $221k (3.0% below list) — sets the bar for market timing.
• Cap rate 3.5% 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 fast (+16.2%/yr); 459 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 31% 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 $7k 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 60 days — a 3% lower offer ($221k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $52k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 38% of rent.
• Climate carrying-cost: major wind risk, 65% 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 $221,160 (3.0% 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 60 days. Have you received any prior offers? Is the seller open to a 3% 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. 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. 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?
9. 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.
10. 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.
11. 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: 3.53%
• Cash-on-cash: -9.85%
• DSCR: 0.56
• GRM: 7.5

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: -24.1%
• Equity multiple: 0.12×
• Total profit: $-56,308
• Equity at exit: $33,996

10-year hold

• IRR: -5.1%
• Equity multiple: 0.55×
• Total profit: $-28,493
• Equity at exit: $19,713

Cash invested: $63,840 (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: 7.5×

Monthly cashflow live

• Estimated rent: $2,536 medium
• Mortgage (P&I): −$1,196
• Tax est. 1.5%: −$285 /mo · $3,420/yr
• Insurance: −$95
• HOA est. from 2 same-building comps: −$952
• Vacancy / Maint / Mgmt: −$533
• Net cashflow: $-524

Break-even live

Break-even rent $3,200

Max offer price $152,145

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: $57,000
• Closing costs: $6,840
• Reserves months: —
• Total cash needed: —

HOA detail condo

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

Listing history 23 events

1. 2026-06-18
   days on market $228,000 Active 60 DOM
2. 2026-06-17
   days on market $228,000 Active 59 DOM
3. 2026-06-16
   days on market $228,000 Active 58 DOM
4. 2026-06-15
   days on market $228,000 Active 57 DOM
5. 2026-06-13
   days on market $228,000 Active 55 DOM
6. 2026-06-10
   days on market $228,000 Active 51 DOM
7. 2026-06-08
   days on market $228,000 Active 50 DOM
8. 2026-06-08
   days on market $228,000 Active 49 DOM
9. 2026-06-04
   days on market $228,000 Active 46 DOM
10. 2026-06-03
    days on market $228,000 Active 45 DOM
11. 2026-06-01
    days on market $228,000 Active 43 DOM
12. 2026-05-31
    days on market $228,000 Active 42 DOM
13. 2026-05-05
    price $229,000
14. 2026-05-03
    price $249,000
15. 2026-04-19
    listed $280,000 Active
16. 2025-03-01
    price $210,000 1036-char remark

    Show marketing remark (1036 chars)

    Unit #2P in Kings Village is the top choice, featuring around 850 square feet of expertly designed living space. This one-bedroom apartment has been renovated and ready to move into. There is an incentive from the preferred lender to assist with Closing Costs. Step into a foyer leading to a spacious living area, ideal for a full living room setup. The kitchen, equipped with stainless steel appliances, offers modern convenience. Adjacent, the dining area can accommodate a table or serve as a home office. The primary bedroom, with ample closet space, fits a king-sized bed and more. Kings Village provides a pre-war elevator building with a part-time doorman, porters, and laundry facilities. Although there's a waitlist, parking is available. Conveniently located next to the B46 route, commuting is a breeze with easy access to the 2/5 trains at Flatbush Brooklyn College and Newkirk Avenue stops. Please note, that pets are not allowed. A 10% Down Payment option is available for buyers. Also, there is an assessment for $385.36.

17. 2025-03-01
    soldstatus $210,000 Sold 1036-char remark

    Show marketing remark (1036 chars)

    Unit #2P in Kings Village is the top choice, featuring around 850 square feet of expertly designed living space. This one-bedroom apartment has been renovated and ready to move into. There is an incentive from the preferred lender to assist with Closing Costs. Step into a foyer leading to a spacious living area, ideal for a full living room setup. The kitchen, equipped with stainless steel appliances, offers modern convenience. Adjacent, the dining area can accommodate a table or serve as a home office. The primary bedroom, with ample closet space, fits a king-sized bed and more. Kings Village provides a pre-war elevator building with a part-time doorman, porters, and laundry facilities. Although there's a waitlist, parking is available. Conveniently located next to the B46 route, commuting is a breeze with easy access to the 2/5 trains at Flatbush Brooklyn College and Newkirk Avenue stops. Please note, that pets are not allowed. A 10% Down Payment option is available for buyers. Also, there is an assessment for $385.36.

18. 2024-05-29
    historical
19. 2024-04-24
    listed $215,000 Active 1036-char remark

    Show marketing remark (1036 chars)

    Unit #2P in Kings Village is the top choice, featuring around 850 square feet of expertly designed living space. This one-bedroom apartment has been renovated and ready to move into. There is an incentive from the preferred lender to assist with Closing Costs. Step into a foyer leading to a spacious living area, ideal for a full living room setup. The kitchen, equipped with stainless steel appliances, offers modern convenience. Adjacent, the dining area can accommodate a table or serve as a home office. The primary bedroom, with ample closet space, fits a king-sized bed and more. Kings Village provides a pre-war elevator building with a part-time doorman, porters, and laundry facilities. Although there's a waitlist, parking is available. Conveniently located next to the B46 route, commuting is a breeze with easy access to the 2/5 trains at Flatbush Brooklyn College and Newkirk Avenue stops. Please note, that pets are not allowed. A 10% Down Payment option is available for buyers. Also, there is an assessment for $385.36.

20. 2024-04-24
    listed $215,000 Active

    Show marketing remark (1036 chars)

    Unit #2P in Kings Village is the top choice, featuring around 850 square feet of expertly designed living space. This one-bedroom apartment has been renovated and ready to move into. There is an incentive from the preferred lender to assist with Closing Costs. Step into a foyer leading to a spacious living area, ideal for a full living room setup. The kitchen, equipped with stainless steel appliances, offers modern convenience. Adjacent, the dining area can accommodate a table or serve as a home office. The primary bedroom, with ample closet space, fits a king-sized bed and more. Kings Village provides a pre-war elevator building with a part-time doorman, porters, and laundry facilities. Although there's a waitlist, parking is available. Conveniently located next to the B46 route, commuting is a breeze with easy access to the 2/5 trains at Flatbush Brooklyn College and Newkirk Avenue stops. Please note, that pets are not allowed. A 10% Down Payment option is available for buyers. Also, there is an assessment for $385.36.

21. 2023-10-14
    status Pending
22. 2023-10-12
    historical
23. 2023-09-25
    listed $215,000 Active

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 23% 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 65% 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: $30,432
• − Mortgage interest: −$12,772
• − Property taxes: −$3,420
• − Insurance: −$1,140
• − Repairs & maintenance: −$2,435
• − Management: −$2,435
• − HOA: −$11,424
• − Depreciation: −$6,633
• Taxable loss: −$9,825
• Est. tax savings @ 24.0%: +$2,358
• After-tax cash flow: $-3,933/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

+6.5% since first listed

11 events — show timeline

• 2026-05-05 Price Changed $229,000 BNYMLS
• 2026-05-03 Price Changed $249,000 BNYMLS
• 2026-04-19 Listed $280,000 BNYMLS
• 2025-03-01 Price Changed $210,000 RLS at REBNY
• 2025-03-01 Sold (MLS) $210,000 RLS at REBNY
• 2024-05-29 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-04-24 Listed $215,000 RLS at REBNY
• 2024-04-24 Listed $215,000 OneKey® MLS as Distributed by MLS Grid
• 2023-10-14 Pending — OneKey® MLS as Distributed by MLS Grid
• 2023-10-12 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2023-09-25 Listed $215,000 OneKey® MLS as Distributed by MLS Grid