1000 Clove Rd Unit 4o · New York, NY 10301

$349,000

2 bd · 1.0 ba · 900 sqft · Condo · 45 Days on market

Built 1965

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• 1% rule +3.3/10.0
• Condition / age +2.5/5.0
• Cash flow +0.0/30.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Don't miss this opportunity! .... Rare availability of a 2 bedroom ''corner unit'' with private terrace overlooking Clove Lake Park in the Luxurious ''Fountains''. Great features of this unit/High Rise co-op are a King size master bedroom, Large living room/dinning room area, overabundance of closet space, 24 Hr Doorman, in-ground pool & laundry area on premises. Near transportation, Park, Golf and minutes to the Bridge! .... Maintenance fees include all utilities and taxes; just pay your own phone & cable. This will not last .... Schedule your viewing ASAP.

Key facts

• Spacious balcony
• Laundry on site
• 24 hour doorman

Tags

• 24 HOUR DOORMAN
• ELEVATORS
• OUTDOOR SWIMMING POOL
• SPACIOUS BALCONY
• WALK IN SHOWER
• LAUNDRY ON SITE

Property features AI

Finance

• HOA & community: Community association (monthly fee); Association amenities include pool; Association fee covers taxes, snow removal, sewer, outside maintenance, water, gas and electricity

Exterior

• Parking: Assigned parking; On-street parking available; No attached garage
• Utilities: 110V electric
• Home design: Brick construction; One story; Built circa 2018 (approximate); R3-2 zoning
• Construction: Brick construction; Built around 2018
• Exterior features: Balcony; In-ground pool; Handicap accessible

Interior

• Kitchen: Microwave; Dishwasher; Refrigerator
• Bedrooms: Bedroom on the first level
• Bathrooms: One full/three-quarter bathroom (first level)
• Heating & cooling: Natural gas heating with forced air; Central cooling (units)
• Interior features: Dishwasher; Dryer; Microwave; Refrigerator; Washer; Central cooling (units); Excellent condition; 6 total rooms
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $349k.

Deal economics

• At list price, monthly cash flow is $-2k ($-21k/yr) — negative.
• To cash-flow at today's rent, offer at most $330k (5.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $289k (17.2% below list).
• Recommended offer: $289k (17.2% below list) — sets the bar for 1% rule.
• Cap rate 0.3% vs local median 2.6% in New York — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 (+6.1%/yr); 263 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 480 units permitted in Richmond County in 2024 (22 in 5+ unit buildings).
• This rent runs 41% of the median local income ($86k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 45 days — a 3% lower offer ($339k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y ago 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.
• Current owner paid $235k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 56% of rent.
• Climate carrying-cost: major wind risk, 62% 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 $288,957 (17.2% 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 45 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. Built in 1965 — 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. 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: 0.83% ✗
• Cap rate: 0.33%
• Cash-on-cash: -21.29%
• DSCR: 0.05
• GRM: 10.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.07% rent growth · sell at horizon

5-year hold

• IRR: -52.9%
• Equity multiple: -0.60×
• Total profit: $-156,769
• Equity at exit: $52,037

10-year hold

• IRR: -62.7%
• Equity multiple: -1.40×
• Total profit: $-234,334
• Equity at exit: $30,175

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 10301

• Rents YoY: 6.1%
• Active inventory: 263
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,890 medium
• Mortgage (P&I): −$1,830
• Tax est. 1.5%: −$436 /mo · $5,235/yr
• Insurance: −$145
• HOA est. from 33 same-building comps: −$1,605
• Vacancy / Maint / Mgmt: −$607
• Net cashflow: $-1,734

Break-even live

Break-even rent $5,085

Max offer price $98,073

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

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1288 Forest Ave Unit 2 Staten Island, NY	3.0	1.0	1000	$3,200	$3.20	17d	1	1.28mi
1288 Forest Ave Unit 1 Staten Island, NY	1.0	1.0	600	$1,950	$3.25	17d	1	1.28mi
19 Tompkins Ct Staten Island, NY	3.0	1.0	1105	$3,300	$2.99	24d	1	1.47mi

HOA detail condo

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

Listing history 18 events

1. 2026-06-18
   days on market $349,000 Active 45 DOM
2. 2026-06-17
   days on market $349,000 Active 44 DOM
3. 2026-06-16
   days on market $349,000 Active 43 DOM
4. 2026-06-15
   days on market $349,000 Active 42 DOM
5. 2026-06-13
   days on market $349,000 Active 40 DOM
6. 2026-06-10
   days on market $349,000 Active 36 DOM
7. 2026-06-08
   days on market $349,000 Active 35 DOM
8. 2026-06-08
   days on market $349,000 Active 34 DOM
9. 2026-06-04
   days on market $349,000 Active 31 DOM
10. 2026-06-03
    days on market $349,000 Active 30 DOM
11. 2026-06-01
    days on market $349,000 Active 28 DOM
12. 2026-05-31
    days on market $349,000 Active 27 DOM
13. 2026-05-22
    price $349,000
14. 2026-05-04
    listed $365,000 Active
15. 2018-01-29
    soldstatus $235,000 Closed 572-char remark

    Show marketing remark (572 chars)

    Don't miss this opportunity! .... Rare availability of a 2 bedroom ''corner unit'' with private terrace overlooking Clove Lake Park in the Luxurious ''Fountains''. Great features of this unit/High Rise co-op are a King size master bedroom, Large living room/dinning room area, overabundance of closet space, 24 Hr Doorman, in-ground pool & laundry area on premises. Near transportation, Park, Golf and minutes to the Bridge! .... Maintenance fees include all utilities and taxes; just pay your own phone & cable. This will not last .... Schedule your viewing ASAP.

16. 2017-08-23
    status Pending 572-char remark

    Show marketing remark (572 chars)

    Don't miss this opportunity! .... Rare availability of a 2 bedroom ''corner unit'' with private terrace overlooking Clove Lake Park in the Luxurious ''Fountains''. Great features of this unit/High Rise co-op are a King size master bedroom, Large living room/dinning room area, overabundance of closet space, 24 Hr Doorman, in-ground pool & laundry area on premises. Near transportation, Park, Golf and minutes to the Bridge! .... Maintenance fees include all utilities and taxes; just pay your own phone & cable. This will not last .... Schedule your viewing ASAP.

17. 2017-07-28
    historical 572-char remark

    Show marketing remark (572 chars)

    Don't miss this opportunity! .... Rare availability of a 2 bedroom ''corner unit'' with private terrace overlooking Clove Lake Park in the Luxurious ''Fountains''. Great features of this unit/High Rise co-op are a King size master bedroom, Large living room/dinning room area, overabundance of closet space, 24 Hr Doorman, in-ground pool & laundry area on premises. Near transportation, Park, Golf and minutes to the Bridge! .... Maintenance fees include all utilities and taxes; just pay your own phone & cable. This will not last .... Schedule your viewing ASAP.

18. 2017-07-21
    listed $249,900 Active 572-char remark

    Show marketing remark (572 chars)

    Don't miss this opportunity! .... Rare availability of a 2 bedroom ''corner unit'' with private terrace overlooking Clove Lake Park in the Luxurious ''Fountains''. Great features of this unit/High Rise co-op are a King size master bedroom, Large living room/dinning room area, overabundance of closet space, 24 Hr Doorman, in-ground pool & laundry area on premises. Near transportation, Park, Golf and minutes to the Bridge! .... Maintenance fees include all utilities and taxes; just pay your own phone & cable. This will not last .... Schedule your viewing ASAP.

ⓘ 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 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥97°F today · 15 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: $34,675
• − Mortgage interest: −$19,549
• − Property taxes: −$5,235
• − Insurance: −$1,745
• − Repairs & maintenance: −$2,774
• − Management: −$2,774
• − HOA: −$19,260
• − Depreciation: −$10,153
• Taxable loss: −$26,815
• Est. tax savings @ 24.0%: +$6,436
• After-tax cash flow: $-14,374/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): 41,052
• Household income: $85,609
• Rent vs Own: 54.2% rent · 45.8% own
• Severe rent burden: 2008.0

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 0.72)
• Race & ethnicity: White 37% Hispanic / Latino 29% Black 23% Two or more races 16% Asian 7%
• Hispanic origin (detail): Mexican 5% Puerto Rican 10% Cuban 2% Dominican 6%
• Common ancestry: Romanian 3% Scotch-Irish 2% Italian 1%
• Foreign-born: 22% · Canada, China, Jamaica
• Languages at home: 68% English-only · Spanish 16% Other Indo-European 5% Russian/Polish/Slavic 3%

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: ▼ -407.37%
• Current HPI: 319.0616
• Rent YoY: ▲ 6.07%
• 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

+39.7% since first listed

6 events — show timeline

• 2026-05-22 Price Changed $349,000 SIBORMLS
• 2026-05-04 Listed $365,000 SIBORMLS
• 2018-01-29 Sold (MLS) $235,000 SIBORMLS
• 2017-08-23 Pending — SIBORMLS
• 2017-07-28 Listing Removed — SIBORMLS
• 2017-07-21 Listed $249,900 SIBORMLS