1935 Shore Pkwy Unit 3E · New York, NY 11214

$289,000

1 bd · 1.0 ba · 800 sqft · Condo · 161 Days on market

Built 1963

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Why this score? — see what drove the B 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• ARV discount +7.5/15.0
• 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 MLS

Spacious 3rd Floor, 1 Bedroom, 800 Sq. Ft. Co-Op in sought after luxury Waterview Towers in Bath Beach. Extra large living room with dining area and galley kitchen. Nice size bedroom with double closet. Huge Terrace the length of the apartment. Apartment Includes: light fixtures, stove, refrigerator, and a/c unit. Building Includes: elevator, updated laundry room on Lobby level, video and night security. Wait list for parking Monthly Maintenance: $769.54 includes gas, electric, heat and water. Additional Monthly Fees: A/C Units $23 per unit, per month; Dishwasher $10 per month. Flip Tax: $7,930. Co-Op Shares: 318. Sublease ok after 1 year.

Key facts

• Laminate floors
• Tiled kitchen
• Refaced cabinetry

Tags

• WATERVIEW TOWERS
• LAMINATE FLOORS
• TILED KITCHEN
• REFACED CABINETRY
• PRIVATE TERRACE
• WELL-MAINTAINED BUILDING

Property features AI

Finance

• Other: Sub-lease permitted; Pets are not allowed (see agent for restrictions); Handicap access available; Co-op shares associated with unit
• Financial info: Financing available: Bank mortgage or cash; Down payment typically 20%; Flip tax applies; Assessment fee in effect
• HOA & community: Maintenance common fee applies; Management: Paul O'Leary Building Manager; Manager phone available

Exterior

• Parking: Parking wait-list
• Security: Intercom entry; Secure lobby; Security patrol
• Utilities: Electric; Gas; Heat; Water; Sewer; Septic
• Home design: Residential property; Detached building; Unit on 3rd floor
• Construction: Building contains 160 units
• Exterior features: Secure lobby; Intercom door; Recreational room; Storage rooms; Resident superintendent; Security patrol

Interior

• Kitchen: Galley kitchen; Stove; Refrigerator
• Bedrooms: One bedroom on the first floor
• Flooring: Laminate floors; Tile floors
• Bathrooms: One full bathroom on the first floor
• Heating & cooling: Steam/radiator heat; Air conditioning (additional fee covers AC)
• Interior features: Elevator; Terrace; Laundry area in building; Refrigerator; Stove; 2 AC units
• Laundry & utility: Card-operated laundry in building

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $289k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $289k).
• Recommended offer: $254k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.3% 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.
• Market conditions: Rents rising fast (+5.9%/yr); 330 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $4,056/mo this rent would consume 74% 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.
• At projected returns (-3.0% appreciation + 5.9% rent growth), your $81k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 161 days — a 12% lower offer ($254k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y ago; this cycle's ask has dropped $21k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $235k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major flood risk; major wind risk, 69% 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 $254,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 161 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.40% ✓
• Cap rate: 11.30%
• Cash-on-cash: 17.90%
• DSCR: 1.80
• GRM: 5.9

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: 12.7%
• Equity multiple: 1.52×
• Total profit: $42,156
• Equity at exit: $43,091

10-year hold

• IRR: 23.7%
• Equity multiple: 3.33×
• Total profit: $188,391
• Equity at exit: $24,987

Cash invested: $80,920 (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: 330
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $4,056 high
• Mortgage (P&I): −$1,516
• Tax est. 1.5%: −$361 /mo · $4,335/yr
• Insurance: −$120
• HOA: −$0
• Vacancy / Maint / Mgmt: −$852
• Net cashflow: $1,207

Break-even live

Break-even rent $2,528

Max offer price $289,000

Occupancy floor 65%

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: $72,250
• Closing costs: $8,670
• 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	20d	1	0.43mi
2286 Cropsey Ave Unit 6A Brooklyn, NY	2.0	2.0	889	$5,125	$5.76	24d	1	0.51mi
2286 Cropsey Ave Unit 18B Brooklyn, NY	2.0	2.0	889	$5,300	$5.96	18d	1	0.51mi
2286 Cropsey Ave Unit 19C Brooklyn, NY	1.0	1.0	544	$3,600	$6.62	18d	1	0.51mi
2286 Cropsey Ave Unit 7E Brooklyn, NY	2.0	2.0	948	$5,250	$5.54	18d	1	0.51mi
2286 Cropsey Ave Unit 9A Brooklyn, NY	2.0	2.0	889	$5,200	$5.85	18d	1	0.51mi
2286 Cropsey Ave Unit 8B Brooklyn, NY	2.0	2.0	889	$5,000	$5.62	18d	1	0.51mi
2286 Cropsey Ave Unit 13E Brooklyn, NY	2.0	2.0	948	$5,550	$5.85	18d	1	0.51mi
63 Bay 37th St Unit 1R Brooklyn, NY	2.0	1.0	900	$3,100	$3.44	24d	1	0.59mi
1515 Surf Ave Brooklyn, NY	1.0–2.0	1.0	706	$3,120	$4.42	1d	15	1.01mi
2971 Shell Rd Unit 704 Brooklyn, NY	2.0	1.0	826	$3,950	$4.78	24d	1	1.05mi
2971 Shell Rd Unit 612 Brooklyn, NY	2.0	2.0	907	$4,150	$4.58	24d	1	1.05mi
2971 Shell Rd Unit 508 Brooklyn, NY	2.0	2.0	930	$4,099	$4.41	24d	1	1.05mi
2971 Shell Rd Unit 406 Brooklyn, NY	2.0	2.0	920	$3,550	$3.86	24d	1	1.05mi
2971 Shell Rd Unit 711 Brooklyn, NY	2.0	2.0	907	$4,200	$4.63	24d	1	1.05mi
2971 Shell Rd Unit 720 Brooklyn, NY	2.0	2.0	920	$4,100	$4.46	24d	1	1.05mi
532 Neptune Ave Brooklyn, NY	1.0–3.0	1.0–2.0	948	$3,400	$3.58	7d	8	1.14mi

HOA detail condo

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

Listing history 16 events

1. 2026-06-18
   days on market $289,000 Active 161 DOM
2. 2026-06-17
   days on market $289,000 Active 160 DOM
3. 2026-06-15
   days on market $289,000 Active 158 DOM
4. 2026-06-13
   days on market $289,000 Active 156 DOM
5. 2026-06-10
   days on market $289,000 Active 152 DOM
6. 2026-06-08
   days on market $289,000 Active 151 DOM
7. 2026-06-04
   days on market $289,000 Active 147 DOM
8. 2026-06-03
   days on market $289,000 Active 146 DOM
9. 2026-06-01
   days on market $289,000 Active 144 DOM
10. 2026-05-31
    days on market $289,000 Active 143 DOM
11. 2026-04-22
    price $289,000
12. 2026-03-06
    price $299,000
13. 2026-01-08
    listed $310,000 Active
14. 2020-04-15
    soldstatus $235,000 Sold 648-char remark

    Show marketing remark (648 chars)

    Spacious 3rd Floor, 1 Bedroom, 800 Sq. Ft. Co-Op in sought after luxury Waterview Towers in Bath Beach. Extra large living room with dining area and galley kitchen. Nice size bedroom with double closet. Huge Terrace the length of the apartment. Apartment Includes: light fixtures, stove, refrigerator, and a/c unit. Building Includes: elevator, updated laundry room on Lobby level, video and night security. Wait list for parking Monthly Maintenance: $769.54 includes gas, electric, heat and water. Additional Monthly Fees: A/C Units $23 per unit, per month; Dishwasher $10 per month. Flip Tax: $7,930. Co-Op Shares: 318. Sublease ok after 1 year.

15. 2017-08-10
    historical 648-char remark

    Show marketing remark (648 chars)

    Spacious 3rd Floor, 1 Bedroom, 800 Sq. Ft. Co-Op in sought after luxury Waterview Towers in Bath Beach. Extra large living room with dining area and galley kitchen. Nice size bedroom with double closet. Huge Terrace the length of the apartment. Apartment Includes: light fixtures, stove, refrigerator, and a/c unit. Building Includes: elevator, updated laundry room on Lobby level, video and night security. Wait list for parking Monthly Maintenance: $769.54 includes gas, electric, heat and water. Additional Monthly Fees: A/C Units $23 per unit, per month; Dishwasher $10 per month. Flip Tax: $7,930. Co-Op Shares: 318. Sublease ok after 1 year.

16. 2017-07-17
    listed $238,000 Active 648-char remark

    Show marketing remark (648 chars)

    Spacious 3rd Floor, 1 Bedroom, 800 Sq. Ft. Co-Op in sought after luxury Waterview Towers in Bath Beach. Extra large living room with dining area and galley kitchen. Nice size bedroom with double closet. Huge Terrace the length of the apartment. Apartment Includes: light fixtures, stove, refrigerator, and a/c unit. Building Includes: elevator, updated laundry room on Lobby level, video and night security. Wait list for parking Monthly Maintenance: $769.54 includes gas, electric, heat and water. Additional Monthly Fees: A/C Units $23 per unit, per month; Dishwasher $10 per month. Flip Tax: $7,930. Co-Op Shares: 318. Sublease ok after 1 year.

ⓘ 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 6/10 Major FEMA zone X (shaded) · 68% 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 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: $48,672
• − Mortgage interest: −$16,188
• − Property taxes: −$4,335
• − Insurance: −$1,445
• − Repairs & maintenance: −$3,894
• − Management: −$3,894
• − Depreciation: −$8,407
• Taxable income: $10,509
• Est. tax owed @ 24.0%: −$2,522
• After-tax cash flow: $11,962/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

+21.4% since first listed

6 events — show timeline

• 2026-04-22 Price Changed $289,000 BNYMLS
• 2026-03-06 Price Changed $299,000 BNYMLS
• 2026-01-08 Listed $310,000 BNYMLS
• 2020-04-15 Sold (MLS) $235,000 BNYMLS
• 2017-08-10 Delisted — BNYMLS
• 2017-07-17 Listed $238,000 BNYMLS