551 Euclid Ave #4 · New York, NY 11208

$1,089,000

None bd · 20.0 ba · 3,485 sqft · MultiFamily public records · 162 Days on market

Built 1925 2,500 sqft lot Est $1136k · at est. ↓ 57% 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 +24.6/30.0
• ARV discount +9.4/15.0
• DSCR +7.9/10.0
• 1% rule +6.0/10.0
• 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

Multi-family units

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

Listing remarks

Great investment opportunity in prime location! Huge 4-family with high rent roll, currently at 6% cap rate. javascript:__doPostBack('m_lbSubmit', '')

Key facts

• 2,500 sq ft lot
• Parking
• Built 1925

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/?-bath units multifamily listed at $1.09M.

Deal economics

• At list price, monthly cash flow is $2k ($27k/yr) — positive. Per door: $561/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $1.09M).
• Recommended offer: $958k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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 (+6.1%/yr); 192 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); 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $11,952/mo this rent would consume 231% of the median local household income ($62k/yr) (locally 7574% 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 $8k of loan paydown is wiped out by about $33k 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 + 6.1% rent growth), your $305k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 162 days — a 12% lower offer ($958k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $85k; list at $1.09M implies a 1181% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 65% 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 $958,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 162 days. Have you received any prior offers? Is the seller open to a 12% 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 1925 — 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. 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.
10. 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.
11. 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: 1.10% ✓
• Cap rate: 8.77%
• Cash-on-cash: 8.83%
• DSCR: 1.39
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $1,136,110
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
309 Berriman St	0.43mi	6/4.0	3,432 (-2%)	6mo	$1,090,000	$318	53
1145 Sutter Ave	0.25mi	8/2.0	3,800 (+9%)	3mo	$1,300,000	$342	51
1140 Sutter Ave	0.27mi	8/3.0	3,420 (-2%)	19mo	$694,785	$203	49
369 Milford St	0.34mi	8/1.0	3,198 (-8%)	5mo	$1,200,000	$375	46
747 Essex St	0.67mi	7/5.0	3,600 (+3%)	3mo	$1,250,000	$347	41
196 Shepherd Ave	0.70mi	6/3.0	3,240 (-7%)	4mo	$1,055,000	$326	32
7602 Blake Ave	0.62mi	7/3.0	3,036 (-13%)	1mo	$640,000	$211	29
448 Ashford St #3	0.72mi	8/5.0	2,970 (-15%)	3mo	$1,250,000	$421	20
1017 Dumont Ave	0.62mi	8/4.0	3,116 (-11%)	17mo	$618,500	$198	20

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 · 6.14% rent growth · sell at horizon

5-year hold

• IRR: 0.4%
• Equity multiple: 1.02×
• Total profit: $5,376
• Equity at exit: $162,373

10-year hold

• IRR: 13.0%
• Equity multiple: 2.18×
• Total profit: $359,099
• Equity at exit: $94,157

Cash invested: $304,920 (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 11208

• Rents YoY: 6.1%
• Active inventory: 192
• Price-to-rent: 30.4×

Monthly cashflow live

• Estimated rent: $11,952 high
• Mortgage (P&I): −$5,711
• Tax from tax record: −$1,034 /mo · $12,403/yr
• Insurance: −$454
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,510
• Net cashflow: $2,244

Break-even live

Break-even rent $9,112

Max offer price $1,089,000

Occupancy floor 76%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	—	$11,952
Total (4 units)			$11,952

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: $272,250
• Closing costs: $32,670
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10124 78th St Ozone Park, NY	3.0	1.0	2299	$3,500	$1.52	24d	1	0.70mi
74-38 Jamaica Ave Unit 2 Jamaica, NY	2.0	1.0	2480	$2,800	$1.13	17d	1	1.21mi
97-30 91st St Unit 2 Jamaica, NY	3.0	2.0	3465	$3,000	$0.87	14d	1	1.30mi

Listing history 5 events

1. 2023-10-04
   soldstatus $85,000
2. 2021-10-28
   status Pending
3. 2021-05-19
   listed $1,089,000 Active
4. 2000-08-24
   soldstatus $100,000
5. 1991-11-20
   soldstatus $200,000

ⓘ 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: $12,403 · $1,034/mo
• Projected year-2 tax: $15,404 · $1,284/mo
• Expected delta: +$3,000/yr (+$250/mo · 24.2%)

ⓘ 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 ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 65% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $143,424
• − Mortgage interest: −$61,001
• − Property taxes: −$12,403
• − Insurance: −$5,445
• − Repairs & maintenance: −$11,474
• − Management: −$11,474
• − Depreciation: −$31,680
• Taxable income: $9,947
• Est. tax owed @ 24.0%: −$2,387
• After-tax cash flow: $24,539/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): 105,428
• Household income: $62,077
• Rent vs Own: 75.1% rent · 24.9% own
• Severe rent burden: 7574.0

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 0.66)
• Race & ethnicity: Black 42% Hispanic / Latino 39% Asian 10% Two or more races 8% White 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 9% Dominican 16%
• Common ancestry: Hispanic 1%
• Foreign-born: 40% · Canada, China, Mexico
• Languages at home: 48% English-only · Spanish 36% Other Indo-European 11% French/Haitian/Cajun 1%

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: ▼ -546.38%
• Current HPI: 376.1489
• Rent YoY: ▲ 6.14%
• 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

-57.5% since first listed

5 events — show timeline

• 2023-10-04 Sold (Public Records) $85,000 Public Records
• 2021-10-28 Pending — BNYMLS
• 2021-05-19 Listed $1,089,000 BNYMLS
• 2000-08-24 Sold (Public Records) $100,000 Public Records
• 1991-11-20 Sold (Public Records) $200,000 Public Records

Property tax history

+4.8%/yr

Latest (2025): $12,403 · +6.9% YoY. Source: county tax records.