313 Brightwater St Unit 5D · New York, NY 11235

$445,000

2 bd · 1.0 ba · 1,100 sqft · Condo · 62 Days on market

Good condition

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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 +12.8/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Condition / age +4.0/5.0
• DSCR +3.8/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• 1% rule +3.6/10.0
• Appreciation +0.0/10.0

Listing remarks

Beautiful, Ocean front, Newly Renovated 2 bedrooms 1 bathroom Coop. Ocean View from every room. Corner unit with a lots of closets: 2 closets in the hallway, one deep closet in the kitchen, closets in both bedrooms, hardwood and tile floors, windows in every room. Brand new eat-in kitchen with a window. Fully tiled bathroom with a window and bath tub. Elevator building, OK to sublease after 2 years, storage and bike room additional amount, super on premises, laundromat in the building basement. small pet OK, minimum 20% down payment and board approval required. Municipal parking available right across the building Steps away from shopping, restaurants, and Brighton Beach.

Key facts

• Lots of closets
• Fully tiled bathroom
• Corner unit

Tags

• CORNER UNIT
• LOTS OF CLOSETS
• HARDWOOD AND TILE FLOORS
• EAT-IN KITCHEN
• FULLY TILED BATHROOM
• ELEVATOR BUILDING

Property features AI

Finance

• Other: Building amenities include bike rooms, card-operated laundry, and a resident superintendent; Building has about 60 units
• Financial info: Flip tax of 2% on transfers; Financing available: Bank mortgage or cash; Listing is a sub-lease
• HOA & community: Maintenance/ common fee of $1,450; Managed by Dependable Property Management (manager phone available); Pets are not allowed; Handicap access available; Co-op shares: 50.00

Exterior

• Security: Intercom door
• Utilities: Gas; Water; Sewer; Gas hot water
• Home design: Residential unit on the 5th floor
• Exterior features: Waterfront present

Interior

• Kitchen: Stove; Microwave; Dishwasher; Refrigerator
• Bedrooms: 2 bedrooms on the first floor (including a master bedroom)
• Flooring: Hardwood floors; Tile floors
• Bathrooms: 1 full bathroom on the first floor
• Heating & cooling: Baseboard heat; No central AC units reported
• Interior features: Dishwasher; Microwave; Refrigerator; Stove; Laundry area; 9 ft+ ceilings; Hardwood floors; Tile floors
• Laundry & utility: On-site laundry area

🏢 Co-op / cooperative unit. The $445,000 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 2-bed/1.0-bath condo listed at $445k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-110 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $429k (3.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $384k (13.8% below list).
• Recommended offer: $384k (13.8% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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 (+5.0%/yr); 521 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $3,838/mo this rent would consume 77% of the median local household income ($60k/yr) (locally 7823% 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 $3k of loan paydown is wiped out by about $13k 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 62 days — a 6% lower offer ($418k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 80% 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 $383,769 (13.8% 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 62 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 0.86% ✗
• Cap rate: 6.18%
• Cash-on-cash: -0.42%
• DSCR: 0.98
• GRM: 9.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.04% rent growth · sell at horizon

5-year hold

• IRR: -15.7%
• Equity multiple: 0.43×
• Total profit: $-70,978
• Equity at exit: $66,351

10-year hold

• IRR: -4.0%
• Equity multiple: 0.71×
• Total profit: $-36,039
• Equity at exit: $38,475

Cash invested: $124,600 (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 11235

• Rents YoY: 5.0%
• Active inventory: 521
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $3,838 high
• Mortgage (P&I): −$2,334
• Tax est. 1.5%: −$556 /mo · $6,675/yr
• Insurance: −$185
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$806
• Net cashflow: $-110

Break-even live

Break-even rent $3,977

Max offer price $429,086

Occupancy floor 98%

Sensitivity live

Price	-10% $198	-5% $44	+0% $-110	+5% $-264	+10% $-418
Rent	-10% $-413	-5% $-262	+0% $-110	+5% $42	+10% $193
Rate	-1.0pp $114	-0.5pp $3	base $-110	+0.5pp $-225	+1.0pp $-343

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: $111,250
• Closing costs: $13,350
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3000 Ocean Pkwy Brooklyn, NY	2.0	2.0	1130	$3,775	$3.34	19d	2	0.32mi
532 Neptune Ave Brooklyn, NY	1.0–3.0	1.0–2.0	948	$4,562	$4.81	8d	8	0.64mi
2971 Shell Rd Unit 720 Brooklyn, NY	2.0	2.0	920	$4,100	$4.46	25d	1	0.73mi
2971 Shell Rd Unit 704 Brooklyn, NY	2.0	1.0	826	$3,950	$4.78	25d	1	0.73mi
2971 Shell Rd Unit 711 Brooklyn, NY	2.0	2.0	907	$4,200	$4.63	25d	1	0.73mi
2971 Shell Rd Unit 612 Brooklyn, NY	2.0	2.0	907	$4,150	$4.58	25d	1	0.73mi
2971 Shell Rd Unit 602 Brooklyn, NY	3.0	2.0	1301	$5,299	$4.07	25d	1	0.73mi
2971 Shell Rd Unit 508 Brooklyn, NY	2.0	2.0	930	$4,099	$4.41	25d	1	0.73mi
2971 Shell Rd Unit 406 Brooklyn, NY	2.0	2.0	920	$3,550	$3.86	25d	1	0.73mi
2957 Shell Rd Brooklyn, NY	3.0	2.0	1292	$5,550	$4.30	25d	1	0.73mi
2538 E 2nd St Unit 2 Brooklyn, NY	3.0	1.0	1100	$2,600	$2.36	24d	1	0.85mi
1515 Surf Ave Brooklyn, NY	1.0–2.0	1.0	706	$5,195	$7.35	0d	14	1.04mi
2483 W 16th St Brooklyn, NY	1.0	1.0	800	$1,800	$2.25	21d	1	1.35mi
3000 Emmons Ave Unit 5 Brooklyn, NY	2.0	2.0	840	$4,085	$4.86	25d	1	1.40mi

HOA detail condo

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

Listing history 12 events

1. 2026-06-18
   days on market $445,000 Active 62 DOM
2. 2026-06-17
   days on market $445,000 Active 61 DOM
3. 2026-06-15
   days on market $445,000 Active 59 DOM
4. 2026-06-13
   days on market $445,000 Active 57 DOM
5. 2026-06-10
   days on market $445,000 Active 53 DOM
6. 2026-06-08
   days on market $445,000 Active 52 DOM
7. 2026-06-08
   days on market $445,000 Active 51 DOM
8. 2026-06-04
   days on market $445,000 Active 48 DOM
9. 2026-06-03
   days on market $445,000 Active 47 DOM
10. 2026-06-01
    days on market $445,000 Active 45 DOM
11. 2026-05-31
    days on market $445,000 Active 44 DOM
12. 2026-04-17
    listed $445,000 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 8/10 Severe FEMA zone X (shaded) · 60% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $46,052
• − Mortgage interest: −$24,927
• − Property taxes: −$6,675
• − Insurance: −$3,022
• − Repairs & maintenance: −$3,684
• − Management: −$3,684
• − Depreciation: −$12,945
• Taxable loss: −$8,886
• Est. tax savings @ 24.0%: +$2,133
• After-tax cash flow: $813/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 oceanfront condo is newly renovated and move-in ready, with a good condition score and a prime location. Potential buyers and renters will appreciate the modern kitchen and bathroom, as well as the ocean views from every room.

Value-add opportunities

• Both Painting the exterior and interior walls — Enhances curb appeal and interior aesthetics.
• Both Landscaping improvements — Enhances curb appeal and creates a more inviting atmosphere.
• Resale Upgrading the kitchen appliances — Modernizes the kitchen and adds value for potential buyers.
• Resale Upgrading the bathroom fixtures — Modernizes the bathroom and adds value for potential buyers.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Enhances curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhances curb appeal and creates a more inviting atmosphere. ↑
• Resale Upgrading the kitchen appliances — Modernizes the kitchen and adds value for potential buyers. ↑
• Resale Upgrading the bathroom fixtures — Modernizes the bathroom and adds value for potential buyers. ↑

ⓘ 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): 78,558
• Household income: $59,661
• Rent vs Own: 65.2% rent · 34.8% own
• Severe rent burden: 7823.0

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: Predominantly White (67%)
• Race & ethnicity: White 67% Asian 15% Two or more races 9% Hispanic / Latino 9% Black 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3%
• Common ancestry: Scotch-Irish 15% Subsaharan African 12% Romanian 2%
• Foreign-born: 63% · China, Canada, Vietnam
• Languages at home: 24% English-only · Russian/Polish/Slavic 48% Chinese 7% Spanish 7%

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: ▼ -181.73%
• Current HPI: 303.6714
• Rent YoY: ▲ 5.04%
• 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

• 2026-04-17 Listed $445,000 BNYMLS