819 Hegeman Ave · New York, NY 11207

$899,000

4 bd · 3.6 ba · 2,750 sqft · MultiFamily public records · 35 Days on market

Built 1970 2,000 sqft lot Est $880k · at est.

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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 +12.3/30.0
• ARV discount +6.5/15.0
• Schools +5.0/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• DSCR +3.7/10.0
• 1% rule +2.6/10.0
• 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

A rare Brooklyn 2-family with space, flexibility, outdoor charm, and everyday convenience. Welcome to 819 Hegeman Avenue — a spacious 2-family home offering approximately 2,750 square feet of livable space, including a finished basement. The second-floor apartment is vacant, while the owner currently occupies the first floor, creating flexibility for an owner-user or investor. The second-floor apartment features a gorgeous front terrace shaded by a mature tree canopy — an inviting outdoor space that adds charm, privacy, and a wonderful place to relax. The finished basement offers approximately 750 square feet with 2 finished rooms and a half bath, creating bonus space for recrea

Key facts

• Near shopping
• Rear garage
• Finished basement

Tags

• FINISHED BASEMENT
• FRONT TERRACE
• REAR GARAGE
• NEAR TRANSPORTATION
• NEAR SHOPPING
• NEAR PARKS

Property features AI

Finance

• Other: Zoning: R5
• Financial info: No financing offered

Exterior

• Parking: Private drive with 2 parking spaces
• Utilities: Electric: Other; Hot water: Other; Heating fuel: Other; Heat delivery: Other
• Home design: Attached building; Residential property; Unit described with 3 bedrooms on floor 2
• Construction: Brick exterior; Flat roof; Block foundation; Building footprint approximately 1,000 (dimensions 50.00 x 20.00)
• Exterior features: Front yard

Interior

• Kitchen: Dishwasher; Oven/Range; Refrigerator; Appliances included
• Bedrooms: Two bedrooms on the first level; Three bedrooms on the second level
• Flooring: Hardwood floors; Ceramic floors
• Bathrooms: Two full bathrooms; One half bathroom; One full bath on level 1; One full bath on level 2; One half bath on level 3
• Heating & cooling: No AC units listed
• Interior features: Dishwasher; Refrigerator; Laundry area; Patio/garden; Finished, partial, walk-in basement
• Laundry & utility: Laundry area

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.8-bath units multifamily listed at $899k.

Deal economics

• At list price, monthly cash flow is $-227 ($-3k/yr) — negative. Per door: $-113/mo.
• To cash-flow at today's rent, offer at most $859k (4.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $687k (23.5% below list).
• Recommended offer: $687k (23.5% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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 (+5.3%/yr); 251 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $6,873/mo this rent would consume 146% of the median local household income ($57k/yr) (locally 7510% 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 $6k of loan paydown is wiped out by about $27k 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 35 days — a 3% lower offer ($872k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $90k; list at $899k implies a 899% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; major wind risk, 68% 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 $687,300 (23.5% 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 35 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 0.76% ✗
• Cap rate: 6.08%
• Cash-on-cash: -0.76%
• DSCR: 0.97
• GRM: 10.9

CMA / ARV

• ARV (on-the-fly): $880,000
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
664 New Jersey Ave	0.56mi	5/3.0 (+1)	2,700 (-2%)	3mo	$641,000	$237	61
346 Van Siclen Ave	0.64mi	5/3.0 (+1)	2,700 (-2%)	6mo	$1,090,740	$404	55
504 Vermont St	0.59mi	5/3.0 (+1)	3,000 (+9%)	3mo	$810,000	$270	48
471 Shepherd Ave	0.62mi	5/3.5 (+1)	2,800 (+2%)	20mo	$989,000	$353	46
637 Blake Ave	0.74mi	5/3.0 (+1)	2,922 (+6%)	4mo	$935,000	$320	45
551 Egan St	0.71mi	5/3.0 (+1)	2,460 (-10%)	11mo	$865,000	$352	33
626 Blake Ave	0.74mi	5/3.0 (+1)	3,126 (+14%)	8mo	$925,000	$296	28

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 · 5.29% rent growth · sell at horizon

5-year hold

• IRR: -15.8%
• Equity multiple: 0.43×
• Total profit: $-144,164
• Equity at exit: $134,044

10-year hold

• IRR: -4.2%
• Equity multiple: 0.70×
• Total profit: $-75,446
• Equity at exit: $77,729

Cash invested: $251,720 (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 11207

• Home prices YoY: -26.3%
• Rents YoY: 5.3%
• Active inventory: 251
• Price-to-rent: 21.8×

Monthly cashflow live

• Estimated rent: $6,873 medium
• Mortgage (P&I): −$4,714
• Tax from tax record: −$501 /mo · $6,012/yr
• Insurance: −$375
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,443
• Net cashflow: $-227

Break-even live

Break-even rent $7,160

Max offer price $858,930

Occupancy floor 98%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.8	$6,872
Total (2 units)			$6,873

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: $224,750
• Closing costs: $26,970
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $899,000 Active 35 DOM
2. 2026-06-17
   days on market $899,000 Active 34 DOM
3. 2026-06-16
   days on market $899,000 Active 33 DOM
4. 2026-06-15
   days on market $899,000 Active 32 DOM
5. 2026-06-13
   days on market $899,000 Active 30 DOM
6. 2026-06-10
   days on market $899,000 Active 26 DOM
7. 2026-06-08
   days on market $899,000 Active 25 DOM
8. 2026-06-08
   days on market $899,000 Active 24 DOM
9. 2026-06-04
   days on market $899,000 Active 21 DOM
10. 2026-06-03
    days on market $899,000 Active 20 DOM
11. 2026-06-02
    days on market $899,000 Active 19 DOM
12. 2026-06-01
    days on market $899,000 Active 18 DOM
13. 2026-05-31
    days on market $899,000 Active 17 DOM
14. 2026-05-14
    listed $899,000 Active
15. 1987-12-24
    soldstatus $90,000

ⓘ 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: $6,012 · $501/mo
• Projected year-2 tax: $10,603 · $884/mo
• Expected delta: +$4,591/yr (+$383/mo · 76.4%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 78% 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 68% 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: $82,476
• − Mortgage interest: −$50,358
• − Property taxes: −$6,012
• − Insurance: −$5,292
• − Repairs & maintenance: −$6,598
• − Management: −$6,598
• − Depreciation: −$26,153
• Taxable loss: −$18,535
• Est. tax savings @ 24.0%: +$4,448
• After-tax cash flow: $1,727/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): 93,198
• Household income: $56,523
• Rent vs Own: 74.1% rent · 25.9% own
• Severe rent burden: 7510.0

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 0.59)
• Race & ethnicity: Black 54% Hispanic / Latino 33% Two or more races 10% White 5% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 11% Dominican 11%
• Common ancestry: Hispanic 1% Swiss 1%
• Foreign-born: 31% · Canada, Mexico, Jamaica
• Languages at home: 67% English-only · Spanish 27% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -138.76%
• Current HPI: 388.434
• Rent YoY: ▲ 5.29%
• 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

+898.9% since first listed

2 events — show timeline

• 2026-05-14 Listed $899,000 BNYMLS
• 1987-12-24 Sold (Public Records) $90,000 Public Records

Property tax history

+5.1%/yr

Latest (2025): $6,012 · -2.4% YoY. Source: county tax records.