2928 W 5th St Unit 5O · New York, NY 11224

$329,000

1 bd · 1.0 ba · 750 sqft · Condo · 21 Days on market

Built 1965 Good condition

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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 +20.5/30.0
• ARV discount +7.5/15.0
• Appreciation +7.5/10.0
• DSCR +6.5/10.0
• 1% rule +5.4/10.0
• Schools +5.0/10.0
• Rent growth +4.3/5.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0

Listing remarks

* * Trump Village Section 4 – Spacious One-Bedroom with Private Balcony * * NOTE: SOME PICTURES ARE STAGED Bright and spacious one-bedroom apartment featuring a desirable layout with separate rooms, hardwood floors throughout, and abundant closet space. The oversized living and dining room combination offers ample space for both entertaining and everyday living, while the generously sized bedroom easily accommodates a king-size bed. Come outside to your private balcony and enjoy fresh air and outdoor relaxation. Located in the highly sought-after Trump Village Section 4 community, this well-maintained cooperative offers 24-hour security, on-site management, a live-in superint

Key facts

• On site management
• Private balcony
• 24 hour security

Tags

• PRIVATE BALCONY
• HARDWOOD FLOORS
• ABUNDANT CLOSET SPACE
• 24 HOUR SECURITY
• ON SITE MANAGEMENT
• LIVE IN SUPERINTENDENT

Property features AI

Finance

• Other: Building has 572 total units
• Financial info: Financing accepted: bank mortgage or cash; Down payment requirement: 10%; Flip tax: 5%
• HOA & community: Maintenance/common fee; Management: Trump Village Sec 4; Manager phone available; Pets allowed (cats and dogs); Handicap access available; Co-op shares: 16.50; Additional $25 fee (includes air conditioning)

Exterior

• Parking: Outdoor parking area (wait-list)
• Security: Secure lobby; Resident superintendent
• Utilities: Electric; Gas; Heat; Water; Other
• Home design: Detached residential building; Fifth-floor unit; Living/dining combo
• Construction: Detached building; Storage rooms (building amenity)
• Exterior features: Patio garden; Balcony; Outdoor parking area (wait-list)

Interior

• Kitchen: Refrigerator; Stove
• Bedrooms: One bedroom on the first floor
• Flooring: Hardwood floors
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Heat; One air conditioning unit
• Interior features: Laundry area; Patio garden; Refrigerator; Stove; One AC unit
• Laundry & utility: Card-operated laundry (building)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $329k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $436 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $329k).
• Recommended offer: $324k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.9% 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); Is 98 Bay Academy (math 96% / reading 96%, grade A+, #2 of 729 statewide, top 0%, 1,488 students, 63% 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 (+7.0%/yr); 114 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $3,430/mo this rent would consume 94% of the median local household income ($44k/yr) (locally 4426% 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 $19k of equity ($2k loan paydown + $16k appreciation (5.0% local appreciation)).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (5.0% appreciation + 7.0% rent growth), your $92k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($324k) is reasonable based on typical stale-listing flexibility.

Recommended offer $324,065 (1.5% below list)

Questions for the listing agent

1. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.04% ✓
• Cap rate: 7.88%
• Cash-on-cash: 5.69%
• DSCR: 1.25
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.98% appreciation · 7.03% rent growth · sell at horizon

5-year hold

• IRR: 19.8%
• Equity multiple: 2.28×
• Total profit: $117,814
• Equity at exit: $186,080

10-year hold

• IRR: 21.4%
• Equity multiple: 4.97×
• Total profit: $365,837
• Equity at exit: $320,852

Cash invested: $92,120 (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 11224

• Home prices YoY: 1.0%
• Rents YoY: 7.0%
• Active inventory: 114
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $3,430 high
• Mortgage (P&I): −$1,725
• Tax est. 1.5%: −$411 /mo · $4,935/yr
• Insurance: −$137
• HOA: −$0
• Vacancy / Maint / Mgmt: −$720
• Net cashflow: $436

Break-even live

Break-even rent $2,878

Max offer price $329,000

Occupancy floor 82%

Sensitivity live

Price	-10% $664	-5% $550	+0% $436	+5% $323	+10% $209
Rent	-10% $165	-5% $301	+0% $436	+5% $572	+10% $707
Rate	-1.0pp $602	-0.5pp $520	base $436	+0.5pp $351	+1.0pp $264

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: $82,250
• Closing costs: $9,870
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
532 Neptune Ave Brooklyn, NY	1.0–3.0	1.0–2.0	948	$3,375	$3.56	1d	8	0.24mi
2971 Shell Rd Unit 720 Brooklyn, NY	2.0	2.0	920	$4,100	$4.46	26d	1	0.33mi
2971 Shell Rd Unit 704 Brooklyn, NY	2.0	1.0	826	$3,950	$4.78	26d	1	0.33mi
2971 Shell Rd Unit 711 Brooklyn, NY	2.0	2.0	907	$4,200	$4.63	26d	1	0.33mi
2971 Shell Rd Unit 508 Brooklyn, NY	2.0	2.0	930	$4,099	$4.41	26d	1	0.33mi
2971 Shell Rd Unit 406 Brooklyn, NY	2.0	2.0	920	$3,550	$3.86	26d	1	0.33mi
2971 Shell Rd Unit 612 Brooklyn, NY	2.0	2.0	907	$4,150	$4.58	26d	1	0.33mi
1515 Surf Ave Brooklyn, NY	1.0–2.0	1.0	706	$3,220	$4.56	0d	16	0.52mi
2483 W 16th St Brooklyn, NY	1.0	1.0	800	$1,800	$2.25	22d	1	0.97mi

HOA detail condo

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

Listing history 14 events

1. 2026-06-21
   days on market $329,000 Active 21 DOM
2. 2026-06-18
   days on market $329,000 Active 18 DOM
3. 2026-06-17
   days on market $329,000 Active 17 DOM
4. 2026-06-16
   days on market $329,000 Active 16 DOM
5. 2026-06-15
   days on market $329,000 Active 15 DOM
6. 2026-06-13
   days on market $329,000 Active 13 DOM
7. 2026-06-09
   days on market $329,000 Active 9 DOM
8. 2026-06-08
   days on market $329,000 Active 8 DOM
9. 2026-06-08
   days on market $329,000 Active 7 DOM
10. 2026-06-04
    days on market $329,000 Active 4 DOM
11. 2026-06-03
    days on market $329,000 Active 3 DOM
12. 2026-06-02
    days on market $329,000 Active 2 DOM
13. 2026-06-01
    remarks 693-char remark
14. 2026-06-01
    listed $329,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $41,166
• − Mortgage interest: −$18,429
• − Property taxes: −$4,935
• − Insurance: −$1,645
• − Repairs & maintenance: −$3,293
• − Management: −$3,293
• − Depreciation: −$9,571
• Taxable loss: −$1
• Est. tax savings @ 24.0%: +$0
• After-tax cash flow: $5,237/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This well-maintained one-bedroom condo in Trump Village Section 4 is move-in ready with a good condition score and minimal repairs needed.

Value-add opportunities

• Both Paint the interior walls — Fresh paint can enhance the overall appearance and value
• Both Replace countertops — Modern countertops can improve the kitchen's functionality and aesthetics
• Both Upgrade lighting fixtures — Updated lighting can make the space more inviting and energy-efficient

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the interior walls — Fresh paint can enhance the overall appearance and value ↑
• Both Replace countertops — Modern countertops can improve the kitchen's functionality and aesthetics ↑
• Both Upgrade lighting fixtures — Updated lighting can make the space more inviting and energy-efficient ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 50,822
• Household income: $43,648
• Rent vs Own: 72.7% rent · 27.3% own
• Severe rent burden: 4426.0

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 0.68)
• Race & ethnicity: White 48% Black 22% Hispanic / Latino 19% Asian 8% Two or more races 7%
• Hispanic origin (detail): Mexican 5% Puerto Rican 8% Dominican 2%
• Common ancestry: Scotch-Irish 10% Subsaharan African 7% Romanian 1%
• Foreign-born: 48% · Canada, China
• Languages at home: 42% English-only · Russian/Polish/Slavic 32% Spanish 11% Chinese 5%

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: ▲ 4.98%
• Current HPI: 505.1405
• Rent YoY: ▲ 7.03%
• 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

1 event — show timeline

• 2026-05-31 Listed $329,000 BNYMLS