55 Austin Pl Unit 1w · New York, NY 10304

$325,000

2 bd · 1.0 ba · 773 sqft · Condo public records · 75 Days on market

Built 1962

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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).

• Cash flow +8.7/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• 1% rule +4.1/10.0
• Livability +3.8/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 55 Austin Pl unit 1W. This spacious unit features 5 well-proportioned rooms, including 2 generously sized bedrooms and 1 full bathroom, offering a comfortable and functional layout ideal. The unit also includes a deeded designated parking spot in an indoor garage—a rare and valuable convenience. Residents enjoy access to a private pool and on-site laundry facilities, adding to the ease of everyday living. Perfectly situated, this property is just minutes from the Staten Island Ferry, providing a seamless commute to Manhattan, as well as downtown Staten Island, where you'll find shopping, dining, and entertainment options.

Key facts

• Garage
• Pool
• Built 1962

Property features AI

Finance

• HOA & community: Association: Imperial Towers; Monthly association fee; Association allows pets; Association amenities include pool; Association fees cover water, sewer, gas, outside maintenance, and snow removal

Exterior

• Parking: Assigned parking; One garage space (garage present, not attached)
• Utilities: 110V electric service
• Home design: Brick construction; New construction; Excellent condition; 7-story building; Facing direction not specified; Entry level: First
• Construction: Brick exterior; Newly built; Building area: 829 (unit not listed)
• Exterior features: Handicap accessible; In-ground pool

Interior

• Kitchen: Kitchen on the first level
• Bedrooms: Bedroom on the first level
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas heating; Hot water heating; Cooling units present
• Interior features: Refrigerator included; Six total rooms; Basement: Other

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $325k.

Deal economics

• At list price, monthly cash flow is $-274 ($-3k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $295k (9.3% below list).
• Recommended offer: $295k (9.3% below list) — sets the bar for 1% rule.
• Cap rate 5.3% 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 (+2.0%/yr); 203 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 480 units permitted in Richmond County in 2024 (22 in 5+ unit buildings).
• At $2,948/mo this rent would consume 49% of the median local household income ($72k/yr) (locally 2401% 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 $10k of value loss. Plan a longer hold.
• Richmond County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($306k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $108k; list at $325k implies a 201% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 20% of rent.
• Climate carrying-cost: major wind risk, 56% 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 $294,839 (9.3% 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 75 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 0.91% ✗
• Cap rate: 5.28%
• Cash-on-cash: -3.62%
• DSCR: 0.84
• GRM: 9.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.99% rent growth · sell at horizon

5-year hold

• IRR: -23.6%
• Equity multiple: 0.20×
• Total profit: $-72,839
• Equity at exit: $48,459

10-year hold

• IRR: -21.7%
• Equity multiple: -0.06×
• Total profit: $-96,779
• Equity at exit: $28,100

Cash invested: $91,000 (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 10304

• Rents YoY: 2.0%
• Active inventory: 203
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,948 medium
• Mortgage (P&I): −$1,704
• Tax from tax record: −$169 /mo · $2,026/yr
• Insurance: −$135
• HOA est. from 17 same-building comps: −$595
• Vacancy / Maint / Mgmt: −$619
• Net cashflow: $-274

Break-even live

Break-even rent $3,296

Max offer price $276,538

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
430 Saint Marks Pl Unit 3b Staten Island, NY	2.0	1.0	885	$3,200	$3.62	24d	1	0.66mi
380 Saint Marks Pl Unit 1 Staten Island, NY	3.0	1.0	1000	$3,333	$3.33	24d	1	0.72mi
0 Victory Blvd Unit 1 FL Staten Island, NY	2.0	1.0	900	$2,500	$2.78	24d	1	0.76mi
21 Susan Ct Staten Island, NY	3.0	2.5	900	$3,400	$3.78	24d	1	0.82mi

HOA detail condo

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

Listing history 12 events

1. 2026-06-15
   days on market $325,000 Active 75 DOM
2. 2026-06-13
   days on market $325,000 Active 73 DOM
3. 2026-06-10
   days on market $325,000 Active 69 DOM
4. 2026-06-08
   days on market $325,000 Active 68 DOM
5. 2026-06-08
   days on market $325,000 Active 67 DOM
6. 2026-06-04
   days on market $325,000 Active 64 DOM
7. 2026-06-03
   days on market $325,000 Active 63 DOM
8. 2026-06-01
   days on market $325,000 Active 61 DOM
9. 2026-05-31
   days on market $325,000 Active 60 DOM
10. 2026-03-31
    listed $325,000 Active
11. 2003-09-03
    soldstatus $108,000
12. 1987-01-06
    soldstatus $70,000

ⓘ 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: $2,026 · $169/mo
• Projected year-2 tax: $3,759 · $313/mo
• Expected delta: +$1,733/yr (+$144/mo · 85.6%)

ⓘ 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 7/10 Severe 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 56% 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: $35,381
• − Mortgage interest: −$18,205
• − Property taxes: −$2,026
• − Insurance: −$1,625
• − Repairs & maintenance: −$2,830
• − Management: −$2,830
• − HOA: −$7,140
• − Depreciation: −$9,455
• Taxable loss: −$8,731
• Est. tax savings @ 24.0%: +$2,095
• After-tax cash flow: $-1,197/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: Richmond County · 404,174 people
• City population: 7,731,280
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 45,658
• Household income: $71,561
• Rent vs Own: 50.8% rent · 49.2% own
• Severe rent burden: 2401.0

Population outlook (Richmond County) Hauer SSP2

• Today (2025): 482,784 people
• By 2030: 481,831 · -0.2%
• By 2040: 473,159 · -2.0%
• By 2050: 457,242 · -5.3%
• By 2075: 408,029 · -15.5%
• By 2100: 341,459 · -29.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.73)
• Race & ethnicity: White 36% Black 25% Hispanic / Latino 24% Asian 13% Two or more races 8% Native American 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 10% Dominican 2%
• Common ancestry: Scotch-Irish 3% Romanian 2% Swiss 2%
• Foreign-born: 32% · Canada, China, Jamaica
• Languages at home: 54% English-only · Spanish 16% Chinese 8% Other Indo-European 5%

Political lean MEDSL · Richmond

• 2024 margin: Strong R (+29.8) · D 35.1% · R 64.9%
• 2008→2024 swing: -25.7pp toward R · 2008: -4.0pp · 2024: -29.8pp
• All cycles: 2024: R+29.8 2020: R+14.9 2016: R+16.8 2012: D+0.8 2008: R+4.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -254.93%
• Current HPI: 346.7976
• Rent YoY: ▲ 1.99%
• 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

+364.3% since first listed

3 events — show timeline

• 2026-03-31 Listed $325,000 SIBORMLS
• 2003-09-03 Sold (Public Records) $108,000 Public Records
• 1987-01-06 Sold (Public Records) $70,000 Public Records

Property tax history

+1.4%/yr

Latest (2025): $2,026 · +1.7% YoY. Source: county tax records.