1717 79th St · New York, NY 11214

$1,198,000

9 bd · 3.0 ba · 3,372 sqft · MultiFamily public records · 110 Days on market

Built 1915 2,000 sqft lot Est $1875k · 36% 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 +24.9/30.0
• ARV discount +15.0/15.0
• DSCR +8.1/10.0
• 1% rule +5.8/10.0
• Schools +5.0/10.0
• Rent growth +4.0/5.0
• 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: 3 units. confirmed

Listing remarks

Ho Ho Ho, Your Christmas present is here and you don't have to go under the tree. All you need to do is to come and pick it up. A one of a kind investment in the heart of Bensonhurst, Brooklyn. A large 20x59 building size, 3 family brick, 61/2 /61/2 /61/2 plus full size basement, each apartment is 3 bedrooms, LR / DR and EIK. Near D train and buses, and everything else you possibly can think of. Large and private back yard plus a front yard too. Great income property with high potential. Owner is anxious to hear numbers and ready to give you a very nice Christmas present a little early, so hurry and make your move to grap this very rare opportunity in today's market. This 3 family investmen

Key facts

• Large building size
• Private back yard
• Front yard

Tags

• LARGE BUILDING SIZE
• FULL SIZE BASEMENT
• PRIVATE BACK YARD
• FRONT YARD

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $1.20M.

Deal economics

• At list price, monthly cash flow is $3k ($31k/yr) — positive. Per door: $862/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($13k rent vs $1.20M).
• Recommended offer: $1.09M (9.0% below list) — sets the bar for market timing.
• Cap rate 8.9% 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 (+5.9%/yr); 330 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $12,897/mo this rent would consume 235% of the median local household income ($66k/yr) (locally 6028% 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 $8k of loan paydown is wiped out by about $36k 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 + 5.9% rent growth), your $335k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 110 days — a 9% lower offer ($1.09M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 68% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,090,180 (9.0% below list)

Questions for the listing agent

1. It's been on market 110 days. Have you received any prior offers? Is the seller open to a 9% 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 1915 — 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: 8.88%
• Cash-on-cash: 9.25%
• DSCR: 1.41
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $1,874,832
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1651 79th St	0.10mi	8/4.0 (-1)	3,280 (-3%)	5mo	$1,940,000	$591	78
1727 80th St	0.05mi	9/6.0	3,200 (-5%)	13mo	$1,995,000	$623	66
8309 20th Ave	0.49mi	8/4.0 (-1)	3,276 (-3%)	4mo	$1,540,000	$470	60
1846 76th St	0.24mi	9/5.0	3,249 (-4%)	17mo	$1,500,000	$462	60
1650 85th St	0.34mi	8/4.0 (-1)	3,150 (-7%)	9mo	$1,750,000	$556	57
8622 17th Ave	0.40mi	8/3.0 (-1)	3,060 (-9%)	9mo	$1,360,000	$444	53
1741 73rd St	0.30mi	10/6.0 (+1)	3,120 (-8%)	8mo	$2,470,000	$792	49
2057 68th St	0.75mi	8/4.0 (-1)	3,510 (+4%)	2mo	$1,660,000	$473	48
1464 86th St	0.54mi	8/4.0 (-1)	3,040 (-10%)	4mo	$3,450,000	$1,135	46
85 Bay 8th St	0.65mi	9/4.0	3,740 (+11%)	3mo	$2,200,000	$588	45
193 Bay 17th St	0.72mi	9/3.0	3,630 (+8%)	18mo	$1,980,000	$545	38
1265 78th St	0.68mi	8/4.0 (-1)	3,182 (-6%)	18mo	$1,400,000	$440	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 · 5.87% rent growth · sell at horizon

5-year hold

• IRR: 0.7%
• Equity multiple: 1.03×
• Total profit: $8,607
• Equity at exit: $178,626

10-year hold

• IRR: 12.9%
• Equity multiple: 2.15×
• Total profit: $385,357
• Equity at exit: $103,581

Cash invested: $335,440 (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 11214

• Rents YoY: 5.9%
• Active inventory: 330
• Price-to-rent: 23.2×

Monthly cashflow live

• Estimated rent: $12,897 high
• Mortgage (P&I): −$6,282
• Tax from tax record: −$822 /mo · $9,863/yr
• Insurance: −$499
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,708
• Net cashflow: $2,585

Break-even live

Break-even rent $9,625

Max offer price $1,198,000

Occupancy floor 75%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$12,897
Total (3 units)			$12,897

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: $299,500
• Closing costs: $35,940
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2025-08-05
   soldstatus $1,750,000
2. 2025-04-01
   status Pending
3. 2024-12-10
   listed $1,198,000 Active
4. 1991-04-11
   soldstatus $140,000

ⓘ 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: $9,863 · $822/mo
• Projected year-2 tax: $15,055 · $1,255/mo
• Expected delta: +$5,191/yr (+$433/mo · 52.6%)

ⓘ 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 ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 68% 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: $154,764
• − Mortgage interest: −$67,107
• − Property taxes: −$9,863
• − Insurance: −$5,990
• − Repairs & maintenance: −$12,381
• − Management: −$12,381
• − Depreciation: −$34,851
• Taxable income: $12,191
• Est. tax owed @ 24.0%: −$2,926
• After-tax cash flow: $28,095/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): 89,397
• Household income: $65,895
• Rent vs Own: 65.4% rent · 34.6% own
• Severe rent burden: 6028.0

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 0.67)
• Race & ethnicity: White 40% Asian 38% Hispanic / Latino 17% Two or more races 6% Black 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3% Dominican 2%
• Common ancestry: Scotch-Irish 4% Subsaharan African 3% Romanian 2%
• Foreign-born: 56% · China, Canada, Vietnam
• Languages at home: 26% English-only · Chinese 28% Russian/Polish/Slavic 15% Spanish 13%

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: ▼ -184.55%
• Current HPI: 276.0804
• Rent YoY: ▲ 5.87%
• 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

+1150.0% since first listed

4 events — show timeline

• 2025-08-05 Sold (Public Records) $1,750,000 Public Records
• 2025-04-01 Pending — BNYMLS
• 2024-12-10 Listed $1,198,000 BNYMLS
• 1991-04-11 Sold (Public Records) $140,000 Public Records

Property tax history

+5.5%/yr

Latest (2025): $9,863 · -0.2% YoY. Source: county tax records.