2475 W 16th St Unit 5A · New York, NY 11214

$295,000

1 bd · 1.0 ba · 800 sqft · Condo · 68 Days on market

↓ 3% 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 +17.0/30.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• DSCR +5.3/10.0
• 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 to Harway Terrace Very nice 1 bedroom apartment with a large balcony on 5th floor n coop building. * * * Open space living room, dinning area, upgraded bathroom and kitchen with stainless steel appliances. * * * Six large closets throughout the apartment. * * * Two wall unit A/C ( extra $25/per unit). * * * Monthly maintenance $845.23 ( all utilities are included: electricity, gas, heat, water) * * * No sublease. * * * The coop offers 24 house security, super on-side, laundry room. * * * Waiting list for parking ( extra $80/per month). * * * Close to subway station, buses, parks, schools and shopping.

Key facts

• Listed 68 days

Property features AI

Finance

• Other: Co-op shares: 462
• Financial info: Financing available: Bank mortgage or cash; Flip tax applies
• HOA & community: Monthly maintenance fee of $845.23; Management: Coney Management LLC; Pets are not allowed; Handicap access available

Exterior

• Parking: Parking wait-list
• Security: Secure lobby; Intercom door; Full-time doorman; Security patrol
• Utilities: Electric; Gas; Heat; Water; Septic
• Home design: Residential property; Floor 5
• Exterior features: Secure lobby; Intercom entry; Full-time doorman; Security patrol; Terrace; Located on the 5th floor

Interior

• Kitchen: Microwave; Refrigerator; Stove
• Bedrooms: One bedroom on the first floor
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Heat (building utilities); Wall A/C unit
• Interior features: Wall A/C unit; Elevator access; Terrace
• Laundry & utility: Card-operated laundry in building

🏢 Co-op / cooperative unit. The $295,000 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 $295k.

Deal economics

• At list price, monthly cash flow is $197 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $295k).
• Recommended offer: $277k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.1% 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); 334 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $3,871/mo this rent would consume 70% 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 $9k 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.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($277k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.
• Climate carrying-cost: major wind risk, 69% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $277,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.31% ✓
• Cap rate: 7.10%
• Cash-on-cash: 2.87%
• DSCR: 1.13
• GRM: 6.4

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: -7.3%
• Equity multiple: 0.72×
• Total profit: $-23,162
• Equity at exit: $43,985

10-year hold

• IRR: 6.6%
• Equity multiple: 1.59×
• Total profit: $48,367
• Equity at exit: $25,506

Cash invested: $82,600 (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: 334
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $3,871 high
• Mortgage (P&I): −$1,547
• Tax est. 1.5%: −$369 /mo · $4,425/yr
• Insurance: −$123
• HOA est. from 1 same-building comp: −$822
• Vacancy / Maint / Mgmt: −$813
• Net cashflow: $197

Break-even live

Break-even rent $3,621

Max offer price $295,000

Occupancy floor 90%

Sensitivity live

Price	-10% $401	-5% $299	+0% $197	+5% $96	+10% $-6
Rent	-10% $-108	-5% $45	+0% $197	+5% $350	+10% $503
Rate	-1.0pp $346	-0.5pp $273	base $197	+0.5pp $121	+1.0pp $43

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: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Rent comps 17 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	22d	1	0.05mi
2971 Shell Rd Unit 704 Brooklyn, NY	2.0	1.0	826	$3,950	$4.78	25d	1	0.67mi
2971 Shell Rd Unit 711 Brooklyn, NY	2.0	2.0	907	$4,200	$4.63	25d	1	0.67mi
2971 Shell Rd Unit 612 Brooklyn, NY	2.0	2.0	907	$4,150	$4.58	25d	1	0.67mi
2971 Shell Rd Unit 406 Brooklyn, NY	2.0	2.0	920	$3,550	$3.86	25d	1	0.67mi
2971 Shell Rd Unit 720 Brooklyn, NY	2.0	2.0	920	$4,100	$4.46	25d	1	0.67mi
2971 Shell Rd Unit 508 Brooklyn, NY	2.0	2.0	930	$4,099	$4.41	25d	1	0.67mi
63 Bay 37th St Unit 1R Brooklyn, NY	2.0	1.0	900	$3,100	$3.44	25d	1	0.76mi
1515 Surf Ave Brooklyn, NY	1.0–2.0	1.0	706	$3,220	$4.56	0d	14	0.76mi
532 Neptune Ave Brooklyn, NY	1.0–3.0	1.0–2.0	948	$3,375	$3.56	0d	8	0.77mi
2286 Cropsey Ave Unit 7E Brooklyn, NY	2.0	2.0	948	$5,250	$5.54	20d	1	0.86mi
2286 Cropsey Ave Unit 9A Brooklyn, NY	2.0	2.0	889	$5,200	$5.85	20d	1	0.86mi
2286 Cropsey Ave Unit 8B Brooklyn, NY	2.0	2.0	889	$5,000	$5.62	20d	1	0.86mi
2286 Cropsey Ave Unit 19C Brooklyn, NY	1.0	1.0	544	$3,600	$6.62	20d	1	0.86mi
2286 Cropsey Ave Unit 6A Brooklyn, NY	2.0	2.0	889	$5,125	$5.76	25d	1	0.86mi
2286 Cropsey Ave Unit 13E Brooklyn, NY	2.0	2.0	948	$5,550	$5.85	20d	1	0.86mi
2286 Cropsey Ave Unit 18B Brooklyn, NY	2.0	2.0	889	$5,300	$5.96	20d	1	0.86mi

HOA detail condo

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

Listing history 5 events

1. 2026-05-18
   status Pending
2. 2026-03-16
   price $295,000
3. 2026-03-11
   listed $289,000 Active
4. 2025-06-20
   price $288,000
5. 2025-05-16
   price $305,000

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 23% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥97°F today · 16 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: $46,453
• − Mortgage interest: −$16,525
• − Property taxes: −$4,425
• − Insurance: −$1,475
• − Repairs & maintenance: −$3,716
• − Management: −$3,716
• − HOA: −$9,864
• − Depreciation: −$8,582
• Taxable loss: −$1,850
• Est. tax savings @ 24.0%: +$444
• After-tax cash flow: $2,814/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

-3.3% since first listed

5 events — show timeline

• 2026-05-18 Pending — BNYMLS
• 2026-03-16 Price Changed $295,000 BNYMLS
• 2026-03-11 Listed $289,000 BNYMLS
• 2025-06-20 Price Changed $288,000 BNYMLS
• 2025-05-16 Price Changed $305,000 BNYMLS