591 Sheffield Ave · New York, NY 11207

$849,000

8 bd · 2.0 ba · 2,200 sqft · MultiFamily public records · 61 Days on market

Built 1910 2,375 sqft lot Est $997k · 15% under

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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 +22.2/30.0
• ARV discount +14.2/15.0
• DSCR +7.1/10.0
• Schools +5.0/10.0
• 1% rule +4.7/10.0
• Rent growth +3.8/5.0
• 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: 2 units. confirmed

Listing remarks

Welcome to 591 Sheffield Avenue, a solid brick, semi-detached two-family home in East New York, Brooklyn. Set on a 25x95 lot with a 20x55 building footprint, this well-maintained property offers approximately 2,200 square feet of residential space, plus an additional 1,100 square feet of finished basement space with both interior and exterior access. The first-floor apartment features 5 rooms, 3 bedrooms, and 1 full bathroom with direct access to the front porch, while the top-floor apartment offers 6 rooms, 4 bedrooms, 1 full bathroom, and a private front-facing balcony. The home includes brick construction, a 2-car garage with shared driveway, gas boiler, separate water heater, and 100-am

Key facts

• Second-floor balcony
• Front porch
• 2-car garage

Tags

• PRIVATE FRONT-FACING BALCONY
• FULLY FINISHED BASEMENT
• BRICK CONSTRUCTION
• 2-CAR GARAGE
• FRONT PORCH
• SECOND-FLOOR BALCONY

Property features AI

Finance

• Other: Two residential units (multifamily) — Unit 1: 3 bedrooms, 1 bath, 5 rooms; Unit 2: 4+ bedrooms, 1 bath, 6 rooms (Unit 2 currently month-to-month)
• Financial info: Financing options considered: exchange, assumption, bank mortgage, cash, lease/purchase, owner

Exterior

• Parking: Shared driveway; Detached garage with 2 parking spaces
• Utilities: 100 Amp electric; Gas hot water; Gas heating (steam/radiator)
• Home design: Semi-detached residential building; Flat roof; Stone foundation; Building footprint approximately 1,100; Building dimensions about 55.00 x 20.00; Zoning R6
• Construction: Brick construction; Flat roof; Stone foundation
• Exterior features: Back yard; Brick exterior

Interior

• Kitchen: Refrigerator; Stove
• Bedrooms: Two-unit property: one unit with 3 bedrooms, the other with 4 bedrooms; Total bedrooms by level: 3 on level 1, 4 on level 2
• Flooring: Hardwood floors
• Bathrooms: Two full bathrooms (one on each level)
• Heating & cooling: Steam/radiator heat; Gas-fired hot water; 100 Amp electric service
• Interior features: Finished full basement; Refrigerator; Stove
• Laundry & utility: No central AC units reported

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/1.0-bath units multifamily listed at $849k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $691/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 $823k (3.1% below list).
• Recommended offer: $798k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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 $8,226/mo this rent would consume 175% 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 $25k 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 61 days — a 6% lower offer ($798k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1910 — 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 $798,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% 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 1910 — 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: 0.97% ✗
• Cap rate: 8.25%
• Cash-on-cash: 6.98%
• DSCR: 1.31
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $996,600
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
541 Hinsdale St	0.20mi	8/2.0	2,160 (-2%)	6mo	$977,000	$452	83
442 Newport St	0.24mi	8/3.0	2,040 (-7%)	7mo	$999,000	$490	67
919 Dumont Ave	0.63mi	7/4.0 (-1)	2,320 (+6%)	18mo	$1,050,000	$453	34

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: -3.3%
• Equity multiple: 0.87×
• Total profit: $-30,481
• Equity at exit: $126,589

10-year hold

• IRR: 8.5%
• Equity multiple: 1.71×
• Total profit: $168,831
• Equity at exit: $73,406

Cash invested: $237,720 (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: 17.2×

Monthly cashflow live

• Estimated rent: $8,226 medium
• Mortgage (P&I): −$4,452
• Tax from tax record: −$310 /mo · $3,722/yr
• Insurance: −$354
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,727
• Net cashflow: $1,382

Break-even live

Break-even rent $6,476

Max offer price $849,000

Occupancy floor 78%

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	1	$8,226
Total (2 units)			$8,226

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: $212,250
• Closing costs: $25,470
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-18
   days on market $849,000 Active 61 DOM
2. 2026-06-17
   days on market $849,000 Active 60 DOM
3. 2026-06-16
   days on market $849,000 Active 59 DOM
4. 2026-06-15
   days on market $849,000 Active 58 DOM
5. 2026-06-13
   days on market $849,000 Active 56 DOM
6. 2026-06-10
   days on market $849,000 Active 52 DOM
7. 2026-06-08
   days on market $849,000 Active 51 DOM
8. 2026-06-08
   days on market $849,000 Active 50 DOM
9. 2026-06-04
   days on market $849,000 Active 47 DOM
10. 2026-06-03
    days on market $849,000 Active 46 DOM
11. 2026-06-01
    days on market $849,000 Active 44 DOM
12. 2026-05-31
    days on market $849,000 Active 43 DOM
13. 2026-04-18
    listed $849,000 Active

ⓘ 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: $3,722 · $310/mo
• Projected year-2 tax: $9,035 · $753/mo
• Expected delta: +$5,313/yr (+$443/mo · 142.8%)

ⓘ 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 6/10 Major 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: $98,712
• − Mortgage interest: −$47,557
• − Property taxes: −$3,722
• − Insurance: −$4,245
• − Repairs & maintenance: −$7,897
• − Management: −$7,897
• − Depreciation: −$24,698
• Taxable income: $2,696
• Est. tax owed @ 24.0%: −$647
• After-tax cash flow: $15,942/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

1 event — show timeline

• 2026-04-18 Listed $849,000 BNYMLS

Property tax history

+4.7%/yr

Latest (2025): $3,722 · -1.5% YoY. Source: county tax records.