1935 Shore Pkwy Unit 1F · New York, NY 11214

$360,000

2 bd · 1.0 ba · 1,000 sqft · Condo · 92 Days on market

Built 1963 ↓ 5% since listing

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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 +25.4/30.0
• DSCR +8.4/10.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• Schools +5.0/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to pristine and beautifully maintained Waterview Towers, located in the Bath Beach section of Brooklyn. This spacious two bedroom 1000 sq. ft. apt. is located one floor up on the first floor (the stairs or elevator are accessible to your preference). This apartment offers a large living room with great natural light, galley kitchen with a stovetop, formica counter tops, eat-in dining area, two large sized bedrooms, nice size closets, extra large private terrace (20ft. long), facing the garden, Both the bathroom and kitchen were renovated at one time and are not original to the building. This apartment is filled with potential and waiting for your personal touch. Amenities incl

Key facts

• Eat-in dining area
• Renovated bathroom
• Galley kitchen

Tags

• LARGE LIVING ROOM
• GALLEY KITCHEN
• EAT-IN DINING AREA
• EXTRA LARGE PRIVATE TERRACE
• RENOVATED BATHROOM
• RENOVATED KITCHEN

Property features AI

Finance

• Other: Flip tax applies
• Financial info: Financing available: Bank mortgage or cash; Down payment typically 20%; Sub-lease allowed
• HOA & community: Maintenance/common fee of $972.42; Management: Paul O'Leary (Manager); Additional monthly fee of $30 that includes air conditioning; Co-op shares: 365.00; Pets are not allowed (see agent for restrictions); Handicap access available

Exterior

• Parking: Wait-list for parking
• Security: Secure lobby; Intercom door; Part-time doorman; Resident superintendent
• Utilities: Electric; Gas; Heat; Water; Sewer; Septic
• Home design: Residential property; First floor location
• Construction: Detached building construction
• Exterior features: First-floor unit; Detached building; Building has 160 total units

Interior

• Kitchen: Galley kitchen; Refrigerator
• Bedrooms: Master bedroom on first floor; Second bedroom on first floor
• Flooring: Laminate floors; Tile floors
• Bathrooms: One full bathroom on first floor
• Heating & cooling: Steam/radiator heat
• Interior features: Elevator; Terrace; Secure lobby; Resident superintendent; Intercom door; Storage rooms; Recreational room; Part-time doorman
• Laundry & utility: Card-operated laundry; No central air conditioning units

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $360k.

Deal economics

• At list price, monthly cash flow is $833 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $360k).
• Recommended offer: $328k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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 (+5.9%/yr); 330 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $4,204/mo this rent would consume 77% of the median local household income ($66k/yr) (locally 6028% 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 $11k 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 + 5.9% rent growth), your $101k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($328k) is reasonable based on typical stale-listing flexibility.
• 2 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

• Climate carrying-cost: major flood risk; major wind risk, 69% 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 $327,600 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.17% ✓
• Cap rate: 9.07%
• Cash-on-cash: 9.92%
• DSCR: 1.44
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.87% rent growth · sell at horizon

5-year hold

• IRR: 1.8%
• Equity multiple: 1.07×
• Total profit: $7,292
• Equity at exit: $53,677

10-year hold

• IRR: 14.1%
• Equity multiple: 2.28×
• Total profit: $129,307
• Equity at exit: $31,126

Cash invested: $100,800 (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 11214

• Rents YoY: 5.9%
• Active inventory: 330
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $4,204 high
• Mortgage (P&I): −$1,888
• Tax est. 1.5%: −$450 /mo · $5,400/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$883
• Net cashflow: $833

Break-even live

Break-even rent $3,149

Max offer price $360,000

Occupancy floor 75%

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: $90,000
• Closing costs: $10,800
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2483 W 16th St Brooklyn, NY	1.0	1.0	800	$1,800	$2.25	20d	1	0.43mi
2286 Cropsey Ave Unit 6A Brooklyn, NY	2.0	2.0	889	$5,125	$5.76	24d	1	0.51mi
2286 Cropsey Ave Unit 13E Brooklyn, NY	2.0	2.0	948	$5,550	$5.85	18d	1	0.51mi
2286 Cropsey Ave Unit 7E Brooklyn, NY	2.0	2.0	948	$5,250	$5.54	18d	1	0.51mi
2286 Cropsey Ave Unit 9A Brooklyn, NY	2.0	2.0	889	$5,200	$5.85	18d	1	0.51mi
2286 Cropsey Ave Unit 8B Brooklyn, NY	2.0	2.0	889	$5,000	$5.62	18d	1	0.51mi
2286 Cropsey Ave Unit 18B Brooklyn, NY	2.0	2.0	889	$5,300	$5.96	18d	1	0.51mi
8642 26th Ave Unit 3 Brooklyn, NY	3.0	1.0	1100	$3,100	$2.82	14d	1	0.56mi
63 Bay 37th St Unit 1R Brooklyn, NY	2.0	1.0	900	$3,100	$3.44	24d	1	0.59mi
2321 81st St Unit 1 Brooklyn, NY	3.0	1.0	1199	$2,499	$2.08	16d	1	1.01mi
1515 Surf Ave Brooklyn, NY	1.0–2.0	1.0	706	$5,195	$7.35	1d	15	1.01mi
2957 Shell Rd Brooklyn, NY	3.0	2.0	1292	$5,550	$4.30	24d	1	1.05mi
2971 Shell Rd Unit 720 Brooklyn, NY	2.0	2.0	920	$4,100	$4.46	24d	1	1.05mi
2971 Shell Rd Unit 508 Brooklyn, NY	2.0	2.0	930	$4,099	$4.41	24d	1	1.05mi
2971 Shell Rd Unit 612 Brooklyn, NY	2.0	2.0	907	$4,150	$4.58	24d	1	1.05mi
2971 Shell Rd Unit 406 Brooklyn, NY	2.0	2.0	920	$3,550	$3.86	24d	1	1.05mi
2971 Shell Rd Unit 711 Brooklyn, NY	2.0	2.0	907	$4,200	$4.63	24d	1	1.05mi
2971 Shell Rd Unit 704 Brooklyn, NY	2.0	1.0	826	$3,950	$4.78	24d	1	1.05mi
2971 Shell Rd Unit 602 Brooklyn, NY	3.0	2.0	1301	$5,299	$4.07	24d	1	1.05mi
532 Neptune Ave Brooklyn, NY	1.0–3.0	1.0–2.0	948	$4,562	$4.81	7d	8	1.14mi
2538 E 2nd St Unit 2 Brooklyn, NY	3.0	1.0	1100	$2,600	$2.36	24d	1	1.26mi
3000 Ocean Pkwy Brooklyn, NY	2.0	2.0	1130	$3,775	$3.34	18d	2	1.45mi

HOA detail condo

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

Listing history 16 events

1. 2026-06-18
   days on market $360,000 Active 92 DOM
2. 2026-06-17
   days on market $360,000 Active 91 DOM
3. 2026-06-15
   days on market $360,000 Active 89 DOM
4. 2026-06-13
   days on market $360,000 Active 87 DOM
5. 2026-06-10
   days on market $360,000 Active 83 DOM
6. 2026-06-08
   days on market $360,000 Active 82 DOM
7. 2026-06-08
   days on market $360,000 Active 81 DOM
8. 2026-06-04
   days on market $360,000 Active 78 DOM
9. 2026-06-03
   days on market $360,000 Active 77 DOM
10. 2026-06-01
    days on market $360,000 Active 75 DOM
11. 2026-05-31
    days on market $360,000 Active 74 DOM
12. 2026-03-18
    listed $360,000 Active
13. 2026-03-10
    historical
14. 2025-07-15
    price $365,000
15. 2025-07-14
    price $365,000
16. 2025-06-20
    listed $378,000 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 6/10 Major FEMA zone X (shaded) · 68% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 69% 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: $50,449
• − Mortgage interest: −$20,166
• − Property taxes: −$5,400
• − Insurance: −$1,800
• − Repairs & maintenance: −$4,036
• − Management: −$4,036
• − Depreciation: −$10,473
• Taxable income: $4,539
• Est. tax owed @ 24.0%: −$1,089
• After-tax cash flow: $8,911/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): 89,397
• Household income: $65,895
• Rent vs Own: 65.4% rent · 34.6% own
• Severe rent burden: 6028.0

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 0.67)
• Race & ethnicity: White 40% Asian 38% Hispanic / Latino 17% Two or more races 6% Black 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3% Dominican 2%
• Common ancestry: Scotch-Irish 4% Subsaharan African 3% Romanian 2%
• Foreign-born: 56% · China, Canada, Vietnam
• Languages at home: 26% English-only · Chinese 28% Russian/Polish/Slavic 15% Spanish 13%

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: ▼ -184.55%
• Current HPI: 276.0804
• Rent YoY: ▲ 5.87%
• 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

-4.8% since first listed

5 events — show timeline

• 2026-03-18 Listed $360,000 BNYMLS
• 2026-03-10 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-07-15 Price Changed $365,000 BNYMLS
• 2025-07-14 Price Changed $365,000 OneKey® MLS as Distributed by MLS Grid
• 2025-06-20 Listed $378,000 OneKey® MLS as Distributed by MLS Grid