521 41 St Unit C5 · New York, NY 11232

$349,000

1 bd · 1.0 ba · 500 sqft · Condo · 245 Days on market

Built 1927 ↓ 12% 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 +9.2/10.0
• ARV discount +7.5/15.0
• Cash flow +7.4/30.0
• Schools +5.0/10.0
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• DSCR +1.6/10.0

Listing remarks

Charming Finnish co-op on a tree-lined street in Sunset Park, Brooklyn, directly across from the park. This third-floor, move-in-ready 3-room residence features 1 bedroom and 1 bathroom, showcasing pre-war character with original details, high ceilings, hardwood floors, and windows in every room. Set in a vibrant neighborhood with trendy restaurants, cozy cafes, and convenient shopping, the building also provides easy access to public transportation for a seamless commute. This well-maintained co-op allows bank financing and offers amenities including a bike room, laundry facilities, and a designated storage space in the basement. Pets are permitted with board approval, and subletting is no

Key facts

• Bike room
• Pre-war character
• Tree-lined street

Tags

• TREE-LINED STREET
• PRE-WAR CHARACTER
• HIGH CEILINGS
• HARDWOOD FLOORS
• WINDOWS IN EVERY ROOM
• BIKE ROOM

Property features AI

Finance

• Other: Co-op shares: 1.00; Building amenities include bike rooms, card-operated laundry, and storage rooms
• Financial info: Financing considered: exchange, bank mortgage, or cash; Flip tax: 2%
• HOA & community: Common maintenance fee of $613; Managed by Park Slope Homes; Pets allowed (cats and dogs)

Exterior

• Parking: No parking
• Utilities: Heat
• Home design: Residential unit; Floor 3
• Construction: Part of a 40-unit building
• Exterior features: Bike rooms; Storage rooms; Located on 3rd floor of the building

Interior

• Kitchen: Eat-in kitchen; Refrigerator; Stove
• Bedrooms: 1 bedroom on the first floor (master)
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom on the first floor
• Heating & cooling: Heat (building-provided); No AC units
• Interior features: Refrigerator; Stove
• Laundry & utility: Card-operated laundry in building

🏢 Co-op / cooperative unit. The $349,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $349k.

Deal economics

• At list price, monthly cash flow is $-447 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $284k (18.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $249k (28.7% below list).
• Recommended offer: $249k (28.7% below list) — sets the bar for 1% rule.
• Cap rate 4.8% 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.
• Zoned schools: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% FRL); Ms 51 William Alexander (math 67% / reading 92%, grade A+, #32 of 729 statewide, top 5%, 1,026 students, 61% FRL); Midwood High School (math 94% / reading 96%, grade A+, #83 of 1,100 statewide, top 8%, 4,062 students, 73% FRL).
• Market conditions: Rents rising fast (+6.3%/yr); 87 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• This rent runs 33% of the median local income ($91k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $32k of equity ($2k loan paydown + $29k appreciation (8.3% 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 ~$51k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 245 days — a 12% lower offer ($307k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $46k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 62% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $248,753 (28.7% 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 245 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
3. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.71% ✗
• Cap rate: 4.76%
• Cash-on-cash: -5.49%
• DSCR: 0.76
• GRM: 11.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

8.35% appreciation · 6.26% rent growth · sell at horizon

5-year hold

• IRR: 17.7%
• Equity multiple: 2.35×
• Total profit: $131,562
• Equity at exit: $273,423

10-year hold

• IRR: 17.6%
• Equity multiple: 5.33×
• Total profit: $423,257
• Equity at exit: $550,833

Cash invested: $97,720 (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 11232

• Home prices YoY: 2.0%
• Rents YoY: 6.3%
• Active inventory: 87
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $2,488 medium
• Mortgage (P&I): −$1,830
• Tax est. 1.5%: −$436 /mo · $5,235/yr
• Insurance: −$145
• HOA: −$0
• Vacancy / Maint / Mgmt: −$522
• Net cashflow: $-447

Break-even live

Break-even rent $3,053

Max offer price $284,360

Occupancy floor —

Sensitivity live

Price	-10% $-206	-5% $-326	+0% $-447	+5% $-567	+10% $-688
Rent	-10% $-643	-5% $-545	+0% $-447	+5% $-348	+10% $-250
Rate	-1.0pp $-271	-0.5pp $-358	base $-447	+0.5pp $-537	+1.0pp $-629

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: $87,250
• Closing costs: $10,470
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22 Tehama St Unit 2 Fl Brooklyn, NY	2.0	1.0	700	$2,980	$4.26	26d	1	1.28mi
6717 6th Ave Unit 2 Brooklyn, NY	1.0	1.0	700	$2,200	$3.14	20d	1	1.33mi

HOA detail condo

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

Listing history 18 events

1. 2026-06-21
   days on market $349,000 Active 245 DOM
2. 2026-06-18
   days on market $349,000 Active 242 DOM
3. 2026-06-17
   days on market $349,000 Active 241 DOM
4. 2026-06-15
   days on market $349,000 Active 239 DOM
5. 2026-06-13
   days on market $349,000 Active 237 DOM
6. 2026-06-10
   days on market $349,000 Active 233 DOM
7. 2026-06-08
   days on market $349,000 Active 232 DOM
8. 2026-06-04
   days on market $349,000 Active 228 DOM
9. 2026-06-03
   days on market $349,000 Active 227 DOM
10. 2026-06-01
    days on market $349,000 Active 225 DOM
11. 2026-05-31
    days on market $349,000 Active 224 DOM
12. 2026-04-28
    price $349,000
13. 2026-04-20
    price $369,000
14. 2026-04-20
    status Active
15. 2026-03-27
    status Pending
16. 2025-11-15
    price $375,000
17. 2025-10-21
    price $385,000
18. 2025-09-25
    listed $395,000 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 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 · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 62% 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: $29,850
• − Mortgage interest: −$19,549
• − Property taxes: −$5,235
• − Insurance: −$1,745
• − Repairs & maintenance: −$2,388
• − Management: −$2,388
• − Depreciation: −$10,153
• Taxable loss: −$11,608
• Est. tax savings @ 24.0%: +$2,786
• After-tax cash flow: $-2,575/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): 27,816
• Household income: $90,891
• Rent vs Own: 73.3% rent · 26.7% own
• Severe rent burden: 1713.0

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 0.65)
• Race & ethnicity: Hispanic / Latino 52% White 23% Asian 15% Two or more races 12% Black 6% Native American 4%
• Hispanic origin (detail): Mexican 20% Puerto Rican 9% Dominican 7%
• Common ancestry: Romanian 3% Scotch-Irish 1% Lithuanian 1%
• Foreign-born: 38% · Canada, China, Jamaica
• Languages at home: 40% English-only · Spanish 44% Chinese 9% Other Asian/Pacific 1%

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: ▲ 8.35%
• Current HPI: 422.0849
• Rent YoY: ▲ 6.26%
• 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

-11.6% since first listed

7 events — show timeline

• 2026-04-28 Price Changed $349,000 BNYMLS
• 2026-04-20 Price Changed $369,000 BNYMLS
• 2026-04-20 Relisted — BNYMLS
• 2026-03-27 Pending — BNYMLS
• 2025-11-15 Price Changed $375,000 BNYMLS
• 2025-10-21 Price Changed $385,000 BNYMLS
• 2025-09-25 Listed $395,000 BNYMLS