627 Hegeman Ave · New York, NY 11207

$699,000

8 bd · 2.0 ba · 2,400 sqft · MultiFamily public records · 84 Days on market

Built 1930 2,518 sqft lot Est $1087k · 36% under ↓ 3% since listing

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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 +25.7/30.0
• ARV discount +15.0/15.0
• DSCR +8.6/10.0
• 1% rule +5.8/10.0
• 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

Excellent investment opportunity in Brooklyn! This two-family brick home features a spacious 4-bedroom, 1-bath unit over a 3-bedroom, 1-bath unit, plus a FULLY finished basement. The property includes a one-car garage and a private backyard, offering added value and functionality. The home is in fair condition and is BEING sold occupied with an existing tenant in place. Tenant will remain after closing; buyer to assume responsibility for any future occupancy decisions. NO EXCEPTIONS. * * * Please do not call or inquire if you are looking for the tenant to be removed prior to closing. * * * This will not happen and bear this in mind when it comes to appraisals and type of loans, their w

Key facts

• Income potential
• Private backyard
• 2,518 sq ft lot

Tags

• TWO-FAMILY BRICK HOME
• FULLY FINISHED BASEMENT
• PRIVATE BACKYARD
• INCOME POTENTIAL

🏷️ Possibly a rental listed for sale. The $699,000 price doesn't fit this home's estimated sale value (~$1,087,200) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 1×4bd/1.0ba + 1×3bd/1.0ba units multifamily listed at $699k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive. Per door: $834/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $699k).
• Recommended offer: $657k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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 $7,574/mo this rent would consume 161% 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 $5k of loan paydown is wiped out by about $21k 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 $196k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($657k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 10y 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.

Risks & watch-outs

• Watch-outs: built in 1930 — 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 $657,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 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 1930 — 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: 1.08% ✓
• Cap rate: 9.16%
• Cash-on-cash: 10.23%
• DSCR: 1.46
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $1,087,200
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
541 Hinsdale St	0.47mi	8/2.0	2,160 (-10%)	6mo	$977,000	$452	56
919 Dumont Ave	0.50mi	7/4.0 (-1)	2,320 (-3%)	18mo	$1,050,000	$453	43
442 Newport St	0.50mi	8/3.0	2,040 (-15%)	7mo	$999,000	$490	42
894 New Lots Ave	0.74mi	8/4.0	2,600 (+8%)	10mo	$744,000	$286	35

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: 1.4%
• Equity multiple: 1.05×
• Total profit: $10,644
• Equity at exit: $104,223

10-year hold

• IRR: 13.0%
• Equity multiple: 2.13×
• Total profit: $222,043
• Equity at exit: $60,437

Cash invested: $195,720 (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: 14.9×

Monthly cashflow live

• Estimated rent: $7,574 medium
• Mortgage (P&I): −$3,666
• Tax from tax record: −$358 /mo · $4,297/yr
• Insurance: −$291
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,591
• Net cashflow: $1,668

Break-even live

Break-even rent $5,462

Max offer price $699,000

Occupancy floor 73%

Sensitivity live

Price	-10% $2,064	-5% $1,866	+0% $1,668	+5% $1,471	+10% $1,273
Rent	-10% $1,070	-5% $1,369	+0% $1,668	+5% $1,968	+10% $2,267
Rate	-1.0pp $2,020	-0.5pp $1,846	base $1,668	+0.5pp $1,487	+1.0pp $1,303

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

Units	Beds	Baths	Est. rent
1× unit	4	1	$3,899
1× unit	3	1	$3,675
Total (2 units)			$7,574

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: $174,750
• Closing costs: $20,970
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-04-10
   status Pending
2. 2026-01-16
   listed $699,000 Active
3. 2026-01-16
   historical
4. 2025-07-21
   price $745,000
5. 2025-06-23
   listed $799,000 Active
6. 2023-08-25
   status Pending
7. 2023-08-25
   historical
8. 2023-08-02
   listed $799,000 Active
9. 2018-07-13
   historical
10. 2017-09-29
    historical
11. 2017-09-29
    listed $695,000 New
12. 2017-05-11
    status Under Contract
13. 2017-02-21
    price $695,000
14. 2017-02-21
    price $695,000
15. 2016-08-02
    price $700,000
16. 2016-08-02
    price $700,000
17. 2016-07-19
    listed $719,000 New

ⓘ 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: $4,297 · $358/mo
• Projected year-2 tax: $8,055 · $671/mo
• Expected delta: +$3,758/yr (+$313/mo · 87.4%)

ⓘ 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: $90,888
• − Mortgage interest: −$39,155
• − Property taxes: −$4,297
• − Insurance: −$3,495
• − Repairs & maintenance: −$7,271
• − Management: −$7,271
• − Depreciation: −$20,335
• Taxable income: $9,064
• Est. tax owed @ 24.0%: −$2,175
• After-tax cash flow: $17,846/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

-2.8% since first listed

17 events — show timeline

• 2026-04-10 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-01-16 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2026-01-16 Listed $699,000 OneKey® MLS as Distributed by MLS Grid
• 2025-07-21 Price Changed $745,000 OneKey® MLS as Distributed by MLS Grid
• 2025-06-23 Listed $799,000 OneKey® MLS as Distributed by MLS Grid
• 2023-08-25 Pending — OneKey® MLS as Distributed by MLS Grid
• 2023-08-25 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2023-08-02 Listed $799,000 OneKey® MLS as Distributed by MLS Grid
• 2018-07-13 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2017-09-29 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2017-09-29 Listed $695,000 OneKey® MLS as Distributed by MLS Grid
• 2017-05-11 Pending — OneKey® MLS as Distributed by MLS Grid
• 2017-02-21 Price Changed $695,000 BNYMLS
• 2017-02-21 Price Changed $695,000 OneKey® MLS as Distributed by MLS Grid
• 2016-08-02 Price Changed $700,000 BNYMLS
• 2016-08-02 Price Changed $700,000 OneKey® MLS as Distributed by MLS Grid
• 2016-07-19 Listed $719,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+5.6%/yr

Latest (2025): $4,297 · -1.5% YoY. Source: county tax records.