1958 W 5th St · New York, NY 11223

$999,000

4 bd · 3.0 ba · 1,656 sqft · MultiFamily public records · 69 Days on market

Built 1901 1,800 sqft lot Est $1086k · 8% under

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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 +14.0/30.0
• ARV discount +11.1/15.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• DSCR +4.2/10.0
• Livability +3.8/5.0
• 1% rule +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Welcome to this Two-family Brick House in a desirable Gravesend neighborhood. Both the first and second floors feature two-bedroom units, offering a practical layout ideal for end-users or investors. The fully finished basement includes front and rear entrances, an open layout, a boiler room, a 3/4 bath, and laundry. Two heat and hot water systems; two gas meters and three electrical meters. Yearly Tax $6,368. The home is in good condition and enjoys a highly convenient location, just minutes from Kings Highway and Avenue U, with easy access to the N and F subway lines. Nearby schools include P. S. 215 Morris H. Weiss and I. S. 228 David A. Boody. Perfect for comfortable living or steady re

Key facts

• Open layout
• Two gas meters
• 1,800 sq ft lot

Tags

• TWO FAMILY BRICK HOUSE
• FULLY FINISHED BASEMENT
• OPEN LAYOUT
• FRONT AND REAR ENTRANCES
• TWO HEAT AND HOT WATER SYSTEMS
• TWO GAS METERS

Property features AI

Finance

• Other: Two-unit multifamily (2 units total)
• Financial info: Financing available: Bank mortgage or cash

Exterior

• Parking: Street parking
• Utilities: Electric service (other); Gas for heating; Hot water from boiler coil
• Home design: Attached building; Residential property; Flat roof; Poured concrete foundation; Building footprint approximately 720; Building dimensions 40.00 x 18.00; R5B zoning
• Construction: Brick construction
• Exterior features: Front yard; Back yard

Interior

• Kitchen: Refrigerator; Stove
• Bedrooms: Two 2-bedroom units (2 beds on first level, 2 beds on second level)
• Flooring: Hardwood floors; Laminate floors; Tile floors
• Bathrooms: Two full bathrooms; One 3/4 bathroom
• Heating & cooling: Gas heating; Baseboard heat; No central AC units
• Interior features: Finished full basement with separate entrance; Refrigerator; Stove
• Laundry & utility: Hot water coil in boiler

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $999k.

Deal economics

• At list price, monthly cash flow is $120 ($1k/yr) — positive. Per door: $60/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $798k (20.1% below list).
• Recommended offer: $798k (20.1% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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 228 David A Boody (math 56% / reading 67%, grade B+, #147 of 729 statewide, top 20%, 1,551 students, 76% 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 (+13.1%/yr); 219 active listings in the ZIP; 7 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 $7,985/mo this rent would consume 151% of the median local household income ($63k/yr) (locally 6011% 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 $7k of loan paydown is wiped out by about $30k 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 69 days — a 6% lower offer ($939k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $600k; list at $999k implies a 66% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 68% 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 $798,500 (20.1% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.80% ✗
• Cap rate: 6.44%
• Cash-on-cash: 0.51%
• DSCR: 1.02
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $1,086,336
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1871 West 8th St	0.19mi	5/2.0 (+1)	1,600 (-3%)	9mo	$850,000	$531	68
2032 W 4th St	0.14mi	4/3.0	1,440 (-13%)	6mo	$1,196,000	$831	67
17 Highlawn Ave	0.49mi	3/3.0 (-1)	1,680 (+1%)	12mo	$1,210,000	$720	60
1864 W 9th St	0.26mi	5/3.0 (+1)	1,792 (+8%)	18mo	$1,155,000	$645	55
1709 W 1 St	0.47mi	4/3.0	1,507 (-9%)	12mo	$1,190,000	$790	54
2047 W 8th St	0.20mi	3/3.0 (-1)	1,900 (+15%)	9mo	$1,350,000	$711	53
164 Bay 41 St	0.75mi	4/2.0	1,728 (+4%)	4mo	$1,050,000	$608	51
2133 W 10th St	0.37mi	3/2.0 (-1)	1,800 (+9%)	11mo	$1,180,000	$656	50
26 Bay 41 St	0.53mi	4/3.5	1,428 (-14%)	1mo	$1,200,000	$840	49
46 Bay 43rd St	0.60mi	5/2.0 (+1)	1,640 (-1%)	18mo	$998,000	$609	46
145 Bay 41 St	0.71mi	4/2.0	1,540 (-7%)	14mo	$995,000	$646	39
119 Bay 41 St	0.67mi	3/2.0 (-1)	1,800 (+9%)	16mo	$1,085,000	$603	32

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -10.6%
• Equity multiple: 0.60×
• Total profit: $-112,363
• Equity at exit: $148,954

10-year hold

• IRR: 4.2%
• Equity multiple: 1.37×
• Total profit: $102,758
• Equity at exit: $86,375

Cash invested: $279,720 (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 11223

• Rents YoY: 13.1%
• Active inventory: 219
• Price-to-rent: 20.9×

Monthly cashflow live

• Estimated rent: $7,985 high
• Mortgage (P&I): −$5,239
• Tax from tax record: −$533 /mo · $6,397/yr
• Insurance: −$416
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,677
• Net cashflow: $120

Break-even live

Break-even rent $7,833

Max offer price $999,000

Occupancy floor 94%

Sensitivity live

Price	-10% $685	-5% $403	+0% $120	+5% $-163	+10% $-446
Rent	-10% $-511	-5% $-195	+0% $120	+5% $435	+10% $751
Rate	-1.0pp $623	-0.5pp $374	base $120	+0.5pp $-139	+1.0pp $-402

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$7,986
Total (2 units)			$7,985

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: $249,750
• Closing costs: $29,970
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8642 26th Ave Unit 3 Brooklyn, NY	3.0	1.0	1100	$3,100	$2.82	16d	1	0.56mi
2321 81st St Unit 1 Brooklyn, NY	3.0	1.0	1199	$2,499	$2.08	18d	1	0.61mi
2538 E 2nd St Unit 2 Brooklyn, NY	3.0	1.0	1100	$2,600	$2.36	26d	1	0.97mi
187 Bay 31st St #1 Brooklyn, NY	3.0	3.0	1800	$5,200	$2.89	20d	1	1.06mi
2957 Shell Rd Brooklyn, NY	3.0	2.0	1292	$5,550	$4.30	26d	1	1.35mi
2971 Shell Rd Unit 602 Brooklyn, NY	3.0	2.0	1301	$5,299	$4.07	26d	1	1.36mi
532 Neptune Ave Brooklyn, NY	1.0–3.0	1.0–2.0	948	$5,725	$6.04	0d	8	1.43mi

Listing history 5 events

1. 2026-03-18
   listed $999,000 Active
2. 2024-04-23
   historical
3. 2015-05-11
   soldstatus $600,000
4. 2005-02-08
   soldstatus $363,000
5. 1991-04-09
   soldstatus $104,000

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

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $6,397 · $533/mo
• Projected year-2 tax: $11,640 · $970/mo
• Expected delta: +$5,243/yr (+$437/mo · 82.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% 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 68% 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: $95,820
• − Mortgage interest: −$55,960
• − Property taxes: −$6,397
• − Insurance: −$4,995
• − Repairs & maintenance: −$7,666
• − Management: −$7,666
• − Depreciation: −$29,062
• Taxable loss: −$15,925
• Est. tax savings @ 24.0%: +$3,822
• After-tax cash flow: $5,261/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): 78,093
• Household income: $63,368
• Rent vs Own: 63.9% rent · 36.1% own
• Severe rent burden: 6011.0

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 0.65)
• Race & ethnicity: White 51% Asian 26% Hispanic / Latino 13% Black 5% Two or more races 4%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2% Dominican 1%
• Common ancestry: Scotch-Irish 4% Subsaharan African 4% Romanian 1%
• Foreign-born: 46% · China, Canada, Philippines
• Languages at home: 41% English-only · Chinese 17% Russian/Polish/Slavic 15% Spanish 9%

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: ▼ -286.92%
• Current HPI: 430.9891
• Rent YoY: ▲ 13.09%
• 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

+860.6% since first listed

5 events — show timeline

• 2026-03-18 Listed $999,000 BNYMLS
• 2024-04-23 Rental Removed — VLS
• 2015-05-11 Sold (Public Records) $600,000 Public Records
• 2005-02-08 Sold (Public Records) $363,000 Public Records
• 1991-04-09 Sold (Public Records) $104,000 Public Records

Property tax history

+5.4%/yr

Latest (2025): $6,397 · +0.5% YoY. Source: county tax records.