590 Parkside Ave Unit 3AW · New York, NY 11226

$419,000

2 bd · 1.0 ba · 750 sqft · Condo · 69 Days on market

↓ 5% 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).

• Cash flow +8.6/30.0
• ARV discount +7.5/15.0
• Appreciation +6.4/10.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0

Listing remarks

Welcome to this beautifully maintained HDFC pre-war co-op. This charming two-bedroom unit features modern cosmetic updates, including fresh paint throughout, new gray kitchen cabinets, a brand-new stove, and a parquet floor in one bedroom, along with durable laminate flooring—both elegant and ready to impress. The home also features new lighting in the living room, adding a bright and modern touch. You can add your own decorating skills to make this your new home!! Upon entry, you are welcomed into a spacious hallway that leads to the kitchen on the left and a bright, airy living room straight ahead. The apartment offers generously sized rooms, beautiful hardwood floors in one bedr

Key facts

• New lighting
• Spacious hallway
• Brand new stove

Tags

• NEW GRAY KITCHEN CABINETS
• BRAND NEW STOVE
• PARQUET FLOOR
• DURABLE LAMINATE FLOORING
• NEW LIGHTING
• SPACIOUS HALLWAY

Property features AI

Finance

• Other: Property is part of a 40-unit building; Sub-lease permitted
• Financial info: Financing options: bank mortgage, cash; exchange considered; Down payment typically 20%; Flip tax: 10%
• HOA & community: Monthly maintenance fee of $787.71 (includes storage); Managed by 590 Tenant Association (manager phone: [phone]); Pets allowed with restrictions (see agent; single pet allowed; weight limit medium, under 35 lbs); Co-op shares: 250.00

Exterior

• Parking: Street parking
• Utilities: Heat included; Sewer; Water; Gas hot water
• Home design: Attached building; Residential property
• Exterior features: Located on the 3rd floor of the building; Street parking

Interior

• Kitchen: Eat-in kitchen; Refrigerator; Stove
• Bedrooms: Two bedrooms on the first floor (including a master bedroom)
• Flooring: Hardwood floors; Laminate floors; Tile floors
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Steam/radiator heat; Gas hot water; Gas heating fuel
• Interior features: Refrigerator; Stove; 9+ foot ceilings
• Laundry & utility: No AC units reported

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $419k.

Deal economics

• At list price, monthly cash flow is $-357 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $367k (12.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $321k (23.3% below list).
• Recommended offer: $321k (23.3% 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.
• Zoned schools: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% FRL); Jhs 383 Philippa Schuyler (math 32% / reading 67%, grade C, #280 of 729 statewide, top 40%, 822 students, 85% 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 (+4.0%/yr); 153 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 27d 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).
• At $3,213/mo this rent would consume 48% of the median local household income ($81k/yr) (locally 8485% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $15k of equity ($3k loan paydown + $12k appreciation (2.9% local appreciation)).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($394k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 64% 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 $321,287 (23.3% 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 69 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
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. 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: 0.77% ✗
• Cap rate: 5.27%
• Cash-on-cash: -3.66%
• DSCR: 0.84
• GRM: 10.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.87% appreciation · 4.0% rent growth · sell at horizon

5-year hold

• IRR: 4.2%
• Equity multiple: 1.24×
• Total profit: $28,229
• Equity at exit: $185,430

10-year hold

• IRR: 7.9%
• Equity multiple: 2.20×
• Total profit: $140,911
• Equity at exit: $283,481

Cash invested: $117,320 (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 11226

• Home prices YoY: 0.9%
• Rents YoY: 4.0%
• Active inventory: 153
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $3,213 high
• Mortgage (P&I): −$2,197
• Tax est. 1.5%: −$524 /mo · $6,285/yr
• Insurance: −$175
• HOA: −$0
• Vacancy / Maint / Mgmt: −$675
• Net cashflow: $-357

Break-even live

Break-even rent $3,665

Max offer price $367,277

Occupancy floor —

Sensitivity live

Price	-10% $-68	-5% $-213	+0% $-357	+5% $-502	+10% $-647
Rent	-10% $-611	-5% $-484	+0% $-357	+5% $-231	+10% $-104
Rate	-1.0pp $-146	-0.5pp $-251	base $-357	+0.5pp $-466	+1.0pp $-576

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: $104,750
• Closing costs: $12,570
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
361 Winthrop St Brooklyn, NY	3.0	4.0	500	$1,510	$3.02	7d	1	0.34mi
762 Park Pl Unit 3B Brooklyn, NY	3.0	2.0	1114	$5,400	$4.85	26d	1	1.20mi
955 Sterling Pl Unit 415 Brooklyn, NY	2.0	1.0	680	$5,150	$7.57	26d	1	1.20mi
955 Sterling Pl #1936 Brooklyn, NY	1.0	1.0	540	$3,170	$5.87	22d	1	1.21mi
755 Washington Ave Brooklyn, NY	1.0	1.0	700	$1,800	$2.57	22d	1	1.34mi
552 Prospect Pl Unit 3A Brooklyn, NY	1.0	1.0	676	$4,500	$6.66	26d	1	1.36mi
668 Nostrand Ave #1 Brooklyn, NY	1.0	1.0	611	$4,200	$6.87	20d	1	1.37mi
1266 Park Pl Unit 1A Brooklyn, NY	2.0	1.5	886	$3,250	$3.67	26d	1	1.49mi

HOA detail condo

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

Listing history 3 events

1. 2026-05-21
   status Pending
2. 2026-04-16
   price $419,000
3. 2026-03-12
   listed $439,000 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 · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 64% 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: $38,554
• − Mortgage interest: −$23,471
• − Property taxes: −$6,285
• − Insurance: −$2,095
• − Repairs & maintenance: −$3,084
• − Management: −$3,084
• − Depreciation: −$12,189
• Taxable loss: −$11,654
• Est. tax savings @ 24.0%: +$2,797
• After-tax cash flow: $-1,492/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): 95,144
• Household income: $81,014
• Rent vs Own: 86.0% rent · 14.0% own
• Severe rent burden: 8485.0

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 0.60)
• Race & ethnicity: Black 59% Hispanic / Latino 16% White 14% Two or more races 9% Asian 4% Native American 1%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3% Dominican 2%
• Common ancestry: Hispanic 12% Romanian 1% Italian 1%
• Foreign-born: 43% · Canada, China, Mexico
• Languages at home: 65% English-only · French/Haitian/Cajun 14% Spanish 13% 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: ▲ 2.87%
• Current HPI: 331.4138
• Rent YoY: ▲ 4.00%
• 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

-4.6% since first listed

3 events — show timeline

• 2026-05-21 Pending — BNYMLS
• 2026-04-16 Price Changed $419,000 BNYMLS
• 2026-03-12 Listed $439,000 BNYMLS