29 Chester Ct · New York, NY 11225

$1,600,000

4 bd · 3.0 ba · 1,888 sqft · MultiFamily public records · 18 Days on market

Built 1910 1,632 sqft lot Est $1720k · 7% 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).

• ARV discount +10.6/15.0
• Appreciation +8.4/10.0
• Cash flow +7.5/30.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• DSCR +1.6/10.0
• 1% rule +1.1/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

THREE FAMILY BEING USED AS ONE FAMILY. BRICK TRIPLEX, 4 BEDROOMS, 3 BATHS, WOODFLOORS, SOME ORIGINAL DETAILS. FULL FINISHED BASEMENT. WE HAVE KEYS.

Key facts

• Rear garden
• Finished basement
• Near subway lines

Tags

• TUDOR REVIVAL TOWNHOUSE
• WOOD-BURNING FIREPLACE
• FINISHED BASEMENT
• REAR GARDEN
• NEAR SUBWAY LINES

Property features AI

Finance

• Financial info: Pets not allowed (building restriction)
• HOA & community: HOA fees collected monthly

Exterior

• Home design: Entry level: 1; 3 stories (building); 4 stories total
• Construction: Lot size approximately 1,632
• Exterior features: Private outdoor space over 60 sqft; Private yard; Patio

Interior

• Bedrooms: Total rooms: 9
• Flooring: Hardwood
• Bathrooms: 3 full bathrooms
• Interior features: Unfurnished; Hardwood floors; Full basement; Has fireplace (1)
• Laundry & utility: Washer; Dryer; Laundry details: see remarks

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath multifamily listed at $1.60M.

Deal economics

• At list price, monthly cash flow is $-2k ($-25k/yr) — negative.
• To cash-flow at today's rent, offer at most $1.24M (22.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $970k (39.4% below list).
• Recommended offer: $970k (39.4% below list) — sets the bar for 1% rule.
• Cap rate 4.8% 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.
• Zoned schools: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% FRL); Jhs 383 Philippa Schuyler (math 32% / reading 67%, grade C, #280 of 729 statewide, top 40%, 822 students, 85% 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 (+4.3%/yr); 76 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $9,700/mo this rent would consume 131% of the median local household income ($89k/yr) (locally 5410% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $121k of equity ($11k loan paydown + $110k appreciation (6.9% local appreciation)).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$193k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($1.58M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 21y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $721k; list at $1.60M implies a 122% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 62% 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 $970,000 (39.4% 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. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
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: 0.61% ✗
• Cap rate: 4.81%
• Cash-on-cash: -5.30%
• DSCR: 0.76
• GRM: 13.7

CMA / ARV

• ARV (on-the-fly): $1,719,968
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5 Temple Ct	0.72mi	4/2.0	1,800 (-5%)	8mo	$1,640,000	$911	48
178 Lefferts Ave	0.41mi	5/2.0 (+1)	2,144 (+14%)	3mo	$1,650,000	$770	46

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

Projected returns pro-forma

6.87% appreciation · 4.33% rent growth · sell at horizon

5-year hold

• IRR: 13.5%
• Equity multiple: 1.95×
• Total profit: $427,595
• Equity at exit: $1,094,678

10-year hold

• IRR: 14.1%
• Equity multiple: 4.06×
• Total profit: $1,369,138
• Equity at exit: $2,066,765

Cash invested: $448,000 (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 11225

• Home prices YoY: 1.6%
• Rents YoY: 4.3%
• Active inventory: 76
• Price-to-rent: 41.2×

Monthly cashflow live

• Estimated rent: $9,700 high
• Mortgage (P&I): −$8,391
• Tax from tax record: −$586 /mo · $7,031/yr
• Insurance: −$667
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,037
• Net cashflow: $-2,047

Break-even live

Break-even rent $12,291

Max offer price $1,238,450

Occupancy floor —

Sensitivity live

Price	-10% $-1,141	-5% $-1,594	+0% $-2,047	+5% $-2,500	+10% $-2,952
Rent	-10% $-2,813	-5% $-2,430	+0% $-2,047	+5% $-1,664	+10% $-1,280
Rate	-1.0pp $-1,241	-0.5pp $-1,640	base $-2,047	+0.5pp $-2,461	+1.0pp $-2,883

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1.5	$9,699
Total (3 units)			$9,700

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: $400,000
• Closing costs: $48,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1065 Sterling Pl Unit Gdn Brooklyn, NY	3.0	1.5	1736	$5,995	$3.45	8d	1	1.36mi

Listing history 11 events

1. 2026-06-21
   days on market $1,600,000 Active 18 DOM
2. 2026-06-18
   days on market $1,600,000 Active 15 DOM
3. 2026-06-17
   days on market $1,600,000 Active 14 DOM
4. 2026-06-16
   days on market $1,600,000 Active 13 DOM
5. 2026-06-15
   days on market $1,600,000 Active 12 DOM
6. 2026-06-13
   days on market $1,600,000 Active 10 DOM
7. 2026-06-09
   days on market $1,600,000 Active 6 DOM
8. 2026-06-08
   days on market $1,600,000 Active 5 DOM
9. 2026-06-07
   days on market $1,600,000 Active 4 DOM
10. 2026-06-04
    remarks 693-char remark
11. 2026-06-04
    listed $1,600,000 Active 1 DOM

ⓘ 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: $7,031 · $586/mo
• Projected year-2 tax: $17,036 · $1,420/mo
• Expected delta: +$10,004/yr (+$834/mo · 142.3%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 76% 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 62% 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: $116,400
• − Mortgage interest: −$89,625
• − Property taxes: −$7,031
• − Insurance: −$8,798
• − Repairs & maintenance: −$9,312
• − Management: −$9,312
• − Depreciation: −$46,545
• Taxable loss: −$54,223
• Est. tax savings @ 24.0%: +$13,014
• After-tax cash flow: $-11,546/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): 58,158
• Household income: $88,568
• Rent vs Own: 80.3% rent · 19.7% own
• Severe rent burden: 5410.0

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 0.63)
• Race & ethnicity: Black 53% White 27% Hispanic / Latino 10% Two or more races 9% Asian 3%
• Hispanic origin (detail): Puerto Rican 2% Dominican 2%
• Common ancestry: Hispanic 5% Romanian 2% Italian 2%
• Foreign-born: 32% · Canada, Jamaica, Mexico
• Languages at home: 76% English-only · Spanish 8% French/Haitian/Cajun 7% German/W. Germanic 3%

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: ▲ 6.87%
• Current HPI: 446.6541
• Rent YoY: ▲ 4.33%
• 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

+2252.9% since first listed

6 events — show timeline

• 2026-06-03 Listed $1,600,000 RLS at REBNY
• 2008-08-04 Sold (Public Records) $721,000 Public Records
• 2006-07-10 Sold (Public Records) $660,000 Public Records
• 2005-11-14 Sold (Public Records) $335,000 Public Records
• 2005-10-17 Listed $665,000 BNYMLS
• 1984-01-01 Sold (Public Records) $68,000 Public Records

Property tax history

+5.6%/yr

Latest (2025): $7,031 · +3.4% YoY. Source: county tax records.