320 Atkins Ave · New York, NY 11208

$1,099,999

9 bd · 3.0 ba · 2,320 sqft · MultiFamily public records · 18 Days on market

Built 1901 2,333 sqft lot Est $875k · 26% over

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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 +22.8/30.0
• DSCR +7.3/10.0
• Schools +5.0/10.0
• 1% rule +4.8/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• 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

Opportunity knocks with this well-maintained 3-family property in Brooklyn. Whether you're an owner-occupant looking to offset your mortgage with rental income or an investor seeking a cash-flowing asset, this property offers flexibility and upside. Two units are expected to be delivered vacant at closing, providing the ability to move right in, select your own tenants, or maximize rental income from day one. The layouts offer bright living spaces, generous natural light, and practical floor plans that appeal to both homeowners and tenants alike. Conveniently located near neighborhood shopping, restaurants, schools, parks, and public transportation, the property provides easy access to ever

Key facts

• Bright interiors
• 2,333 sq ft lot
• Built 1901

Tags

• TWO UNITS DELIVERED VACANT
• INCOME PRODUCING OCCUPIED UNIT
• UPDATED KITCHENS AND BATHROOMS
• BRIGHT INTERIORS
• CONVENIENT ACCESS TO SHOPPING
• CONVENIENT ACCESS TO SCHOOLS

Property features AI

Finance

• Financial info: Tax year 2025

Exterior

• Parking: On-street parking
• Utilities: Public sewer; Cable available; Electricity connected; Natural gas connected; Sewer connected; Water connected
• Home design: Triplex; Total building area about 2320
• Construction: Brick exterior
• Exterior features: Brick construction; Not waterfront

Interior

• Bedrooms: Three 3-bedroom units
• Bathrooms: Three full bathrooms
• Heating & cooling: Heating details provided in remarks; Cooling varies by unit
• Interior features: First-floor bedroom; First-floor full bathroom; Basement with walk-out access

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $1.10M.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive. Per door: $618/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 $1.08M (2.0% below list).
• Recommended offer: $1.08M (2.0% below list) — sets the bar for 1% rule.
• Cap rate 8.4% 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 (+6.1%/yr); 193 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $10,776/mo this rent would consume 208% of the median local household income ($62k/yr) (locally 7574% 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 $33k 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 + 6.1% rent growth), your $308k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($1.08M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $16k; list at $1.10M implies a 6567% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1901 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 68% 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 $1,077,600 (2.0% 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 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 0.98% ✗
• Cap rate: 8.39%
• Cash-on-cash: 7.48%
• DSCR: 1.33
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $874,640
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
894 New Lots Ave	0.18mi	8/4.0 (-1)	2,600 (+12%)	10mo	$744,000	$286	54
306 Sheridan Ave	0.68mi	8/5.0 (-1)	2,652 (+14%)	19mo	$1,000,000	$377	15

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 · 6.14% rent growth · sell at horizon

5-year hold

• IRR: -2.1%
• Equity multiple: 0.92×
• Total profit: $-25,431
• Equity at exit: $164,013

10-year hold

• IRR: 10.4%
• Equity multiple: 1.92×
• Total profit: $281,959
• Equity at exit: $95,108

Cash invested: $308,000 (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 11208

• Rents YoY: 6.1%
• Active inventory: 193
• Price-to-rent: 25.5×

Monthly cashflow live

• Estimated rent: $10,776 high
• Mortgage (P&I): −$5,769
• Tax from tax record: −$365 /mo · $4,382/yr
• Insurance: −$458
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,263
• Net cashflow: $1,855

Break-even live

Break-even rent $8,428

Max offer price $1,099,999

Occupancy floor 78%

Sensitivity live

Price	-10% $2,477	-5% $2,166	+0% $1,855	+5% $1,543	+10% $1,232
Rent	-10% $1,003	-5% $1,429	+0% $1,855	+5% $2,280	+10% $2,706
Rate	-1.0pp $2,409	-0.5pp $2,134	base $1,855	+0.5pp $1,570	+1.0pp $1,280

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$10,776
Total (3 units)			$10,776

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: $275,000
• Closing costs: $33,000
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-21
   days on market $1,099,999 Active 18 DOM
2. 2026-06-18
   days on market $1,099,999 Active 15 DOM
3. 2026-06-17
   days on market $1,099,999 Active 14 DOM
4. 2026-06-16
   days on market $1,099,999 Active 13 DOM
5. 2026-06-15
   days on market $1,099,999 Active 12 DOM
6. 2026-06-13
   days on market $1,099,999 Active 10 DOM
7. 2026-06-09
   days on market $1,099,999 Active 6 DOM
8. 2026-06-08
   days on market $1,099,999 Active 5 DOM
9. 2026-06-08
   pricedays on market $1,099,999 Active 4 DOM
10. 2026-06-04
    remarks 699-char remark
11. 2026-06-04
    listed $899,999 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: $4,382 · $365/mo
• Projected year-2 tax: $11,486 · $957/mo
• Expected delta: +$7,104/yr (+$592/mo · 162.1%)

ⓘ 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) · 77% 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 68% 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: $129,312
• − Mortgage interest: −$61,617
• − Property taxes: −$4,382
• − Insurance: −$6,297
• − Repairs & maintenance: −$10,345
• − Management: −$10,345
• − Depreciation: −$32,000
• Taxable income: $4,326
• Est. tax owed @ 24.0%: −$1,038
• After-tax cash flow: $21,217/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): 105,428
• Household income: $62,077
• Rent vs Own: 75.1% rent · 24.9% own
• Severe rent burden: 7574.0

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 0.66)
• Race & ethnicity: Black 42% Hispanic / Latino 39% Asian 10% Two or more races 8% White 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 9% Dominican 16%
• Common ancestry: Hispanic 1%
• Foreign-born: 40% · Canada, China, Mexico
• Languages at home: 48% English-only · Spanish 36% Other Indo-European 11% French/Haitian/Cajun 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: ▼ -546.38%
• Current HPI: 376.1489
• Rent YoY: ▲ 6.14%
• 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

+6566.7% since first listed

3 events — show timeline

• 2026-06-04 Price Changed $1,099,999 OneKey® MLS as Distributed by MLS Grid
• 2026-06-02 Listed $899,999 OneKey® MLS as Distributed by MLS Grid
• 1983-11-01 Sold (Public Records) $16,500 Public Records

Property tax history

+4.7%/yr

Latest (2025): $4,382 · -1.6% YoY. Source: county tax records.