593 Warwick St · New York, NY 11207

$550,000

6 bd · 2.0 ba · 1,920 sqft · MultiFamily public records · 19 Days on market

Built 1930 1,800 sqft lot Est $908k · 39% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• Schools +5.0/10.0
• 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

Estate Sale-Delivered Vacant. Solid Brick attached multi family home in need of a full repair to restore this home to adequate living condition. Full unfinished basement with access from the main floor via separate doorway from the main hallway and walk out access to the backyard. First floor unit has 1 kitchen one bath and 2-3 bedrooms depending on configuration, 2nd floor contained 1 kitchen, 1 bathroom, with 3 bedrooms. This home sits in the middle of a fully residential street with a mix of single and multi-family homes. Tax records indicate this home is a 3 family, however there are two floors and one apartment on each floor home was always used as a 2 family, basement was never finish

Key facts

• Solid brick
• Access to backyard
• 1,800 sq ft lot

Tags

• SOLID BRICK
• FULL UNFINISHED BASEMENT
• ACCESS TO BACKYARD
• FULLY RESIDENTIAL STREET

Property features AI

Exterior

• Parking: No carport; No designated parking
• Security: Security features present (unspecified)
• Utilities: Public sewer; Other utilities (see remarks)
• Home design: Duplex; Fixer condition
• Construction: Block and brick construction; Concrete perimeter foundation
• Exterior features: Fenced front and back yard

Interior

• Bedrooms: Two 3-bedroom units
• Flooring: Carpet; Linoleum; Wood
• Bathrooms: Two full bathrooms
• Heating & cooling: Natural gas heating; No central cooling listed (see remarks)
• Interior features: First-floor bedroom; Full unfinished basement with walk-out access; No attic

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/?-bath units multifamily listed at $550k.

Deal economics

• At list price, monthly cash flow is $2k ($29k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $550k).
• Recommended offer: $542k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.6% 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 $7,434/mo this rent would consume 158% 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 $4k of loan paydown is wiped out by about $16k 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 + 5.3% rent growth), your $154k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($542k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $541,750 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
8. 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.
9. 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: 1.35% ✓
• Cap rate: 11.62%
• Cash-on-cash: 19.01%
• DSCR: 1.85
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $908,160
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
560 Jerome St	0.11mi	6/2.0	1,920 (0%)	4mo	$908,000	$473	92
623 Ashford St	0.16mi	7/3.0 (+1)	1,786 (-7%)	1mo	$1,120,000	$627	71
733 Warwick St	0.28mi	5/2.0 (-1)	2,000 (+4%)	9mo	$720,000	$360	68
780 Hendrix St	0.47mi	5/3.0 (-1)	1,848 (-4%)	2mo	$889,000	$481	61
307 Berriman St	0.33mi	6/4.0	2,112 (+10%)	1mo	$880,000	$417	59
357 Elton St	0.40mi	6/3.0	1,748 (-9%)	10mo	$810,000	$463	54
717 Hendrix St	0.36mi	6/2.0	2,200 (+15%)	7mo	$529,000	$240	53
459 Berriman St	0.39mi	6/4.0	1,640 (-15%)	0mo	$875,000	$534	49
278 Ashford St	0.47mi	6/3.0	1,676 (-13%)	4mo	$830,000	$495	49
661 Euclid Ave	0.75mi	6/2.0	2,180 (+14%)	2mo	$890,000	$408	41
545 Logan St	0.54mi	5/3.0 (-1)	1,640 (-15%)	4mo	$630,000	$384	38
610 Sheffield Ave	0.72mi	6/4.0	2,120 (+10%)	10mo	$1,180,000	$557	33

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: 13.3%
• Equity multiple: 1.54×
• Total profit: $83,682
• Equity at exit: $82,007

10-year hold

• IRR: 23.7%
• Equity multiple: 3.26×
• Total profit: $347,852
• Equity at exit: $47,554

Cash invested: $154,000 (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 11207

• Home prices YoY: -26.3%
• Rents YoY: 5.3%
• Active inventory: 251
• Price-to-rent: 12.3×

Monthly cashflow live

• Estimated rent: $7,434 medium
• Mortgage (P&I): −$2,884
• Tax from tax record: −$320 /mo · $3,834/yr
• Insurance: −$229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,561
• Net cashflow: $2,440

Break-even live

Break-even rent $4,345

Max offer price $550,000

Occupancy floor 62%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	—	$7,434
Total (2 units)			$7,434

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: $137,500
• Closing costs: $16,500
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-18
   days on market $550,000 Active 19 DOM
2. 2026-06-17
   days on market $550,000 Active 18 DOM
3. 2026-06-16
   days on market $550,000 Active 17 DOM
4. 2026-06-15
   days on market $550,000 Active 16 DOM
5. 2026-06-13
   days on market $550,000 Active 14 DOM
6. 2026-06-09
   days on market $550,000 Active 10 DOM
7. 2026-06-08
   days on market $550,000 Active 9 DOM
8. 2026-06-08
   remarks 699-char remark
9. 2026-06-08
   listed $550,000 Active 8 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: $3,834 · $320/mo
• Projected year-2 tax: $6,565 · $547/mo
• Expected delta: +$2,730/yr (+$228/mo · 71.2%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 73% 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: $89,208
• − Mortgage interest: −$30,809
• − Property taxes: −$3,834
• − Insurance: −$2,750
• − Repairs & maintenance: −$7,137
• − Management: −$7,137
• − Depreciation: −$16,000
• Taxable income: $21,542
• Est. tax owed @ 24.0%: −$5,170
• After-tax cash flow: $24,109/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

• 2026-05-30 Listed $550,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+4.7%/yr

Latest (2025): $3,834 · -1.3% YoY. Source: county tax records.