264 67th St · New York, NY 11220

$2,199,000

12 bd · 6.0 ba · 4,620 sqft · MultiFamily public records · 488 Days on market

Built 1906 2,000 sqft lot

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Why this score? — see what drove the D 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 +7.9/30.0
• Appreciation +7.8/10.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• DSCR +2.0/10.0
• 1% rule +1.6/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Beautifully renovated six family building in Prime Bay Ridge Area. All units were renovated from top to bottom with stainless steel appliances, modern kitchens, hardwood floors, modern bathrooms, built-in closets, skylights, exposed brick walls, tons of natural light. Near two beautiful parks, many great stores, schools and recreation centers. This is an investor dream as all tenants pay for their own heat, gas, electricity. There are six separate meters for water, electricity, gas. All brand new plumbing and electrical work done as well as brand new fuse boxes. The building consists of five 2-bedroom apartments and one 3-bedroom apartments. The first floor units are with the basement and b

Key facts

• Modern kitchens
• Modern bathrooms
• Built-in closets

Tags

• RENOVATED SIX FAMILY BUILDING
• STAINLESS STEEL APPLIANCES
• MODERN KITCHENS
• HARDWOOD FLOORS
• MODERN BATHROOMS
• BUILT-IN CLOSETS

Property features AI

Finance

• Other: Six rental units total (unit mix: one 3-bed, five 2-bed); Unit statuses vary (leased and month-to-month); Current listed unit rents vary by unit
• Financial info: Financing options: Exchange considered, bank mortgage, or cash

Exterior

• Parking: No designated parking
• Security: Secure lobby; Non-resident superintendent
• Utilities: Electric: 110V; Hot water: Gas; Heating fuel: Gas
• Home design: Residential attached building; Building footprint approximately 1,540 sq ft
• Construction: Brick and block construction; Rubber roof; Block foundation; Building dimensions approximately 77 x 20
• Exterior features: Back yard; Attached building; Secure lobby; Non-resident superintendent

Interior

• Kitchen: Each unit: Oven/Range; Each unit: Refrigerator; Dishwasher in each unit
• Bedrooms: Six-unit building with a mix of 3-bed and 2-bed apartments (unit-level details below); Unit 1: 3 bedrooms (first floor, includes basement access and backyard); Units 2–6: 2 bedrooms each
• Flooring: Ceramic floors; Hardwood floors
• Bathrooms: Total full bathrooms (building): 6; Each unit listed with 1 full bath
• Heating & cooling: Baseboard heating; Steam/Radiator heating; Gas heating fuel; Wall A/C units (multiple)
• Interior features: Wall A/C units (5+); Dishwasher; Laundry area; Refrigerator; Stove; Ceramic floors; Hardwood floors; Full basement
• Laundry & utility: Shared laundry area

What this means for you Summary

Snapshot

• This is a 6 × 2-bed/1.0-bath units multifamily listed at $2.20M.

Deal economics

• At list price, monthly cash flow is $-2k ($-28k/yr) — negative. Per door: $-393/mo.
• To cash-flow at today's rent, offer at most $1.78M (18.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.46M (33.7% below list).
• Recommended offer: $1.46M (33.7% below list) — sets the bar for 1% rule.
• Cap rate 5.0% 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: Ps 102 Bayview (The) (math 58% / reading 69%, grade B, #663 of 2,108 statewide, top 32%, 1,110 students, 64% FRL); Jhs 259 William Mckinley (math 65% / reading 76%, grade A, #84 of 729 statewide, top 12%, 1,591 students, 81% 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 (+11.0%/yr); 271 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $14,575/mo this rent would consume 250% of the median local household income ($70k/yr) (locally 6563% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $139k of equity ($15k loan paydown + $124k appreciation (5.6% local appreciation)).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$223k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 488 days — a 12% lower offer ($1.94M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $365k; list at $2.20M implies a 502% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1906 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 56% 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 $1,457,500 (33.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 488 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1906 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
11. 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.
12. 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.
13. 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: 0.66% ✗
• Cap rate: 5.01%
• Cash-on-cash: -4.59%
• DSCR: 0.80
• GRM: 12.6

CMA / ARV

• ARV (on-the-fly): $1,279,740
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
618 67th St	0.54mi	12/6.0	5,232 (+13%)	0mo	$1,450,000	$277	52

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

5.63% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 12.4%
• Equity multiple: 1.83×
• Total profit: $513,665
• Equity at exit: $1,331,716

10-year hold

• IRR: 14.8%
• Equity multiple: 3.98×
• Total profit: $1,831,939
• Equity at exit: $2,372,438

Cash invested: $615,720 (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 11220

• Home prices YoY: 2.5%
• Rents YoY: 11.0%
• Active inventory: 271
• Price-to-rent: 75.4×

Monthly cashflow live

• Estimated rent: $14,575 medium
• Mortgage (P&I): −$11,532
• Tax from tax record: −$1,422 /mo · $17,064/yr
• Insurance: −$916
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,061
• Net cashflow: $-2,356

Break-even live

Break-even rent $17,557

Max offer price $1,782,843

Occupancy floor —

Sensitivity live

Price	-10% $-1,111	-5% $-1,733	+0% $-2,356	+5% $-2,978	+10% $-3,601
Rent	-10% $-3,507	-5% $-2,931	+0% $-2,356	+5% $-1,780	+10% $-1,204
Rate	-1.0pp $-1,248	-0.5pp $-1,796	base $-2,356	+0.5pp $-2,926	+1.0pp $-3,505

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

Units	Beds	Baths	Est. rent
▸ 6× units	2	1	$14,574
Total (6 units)			$14,575

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: $549,750
• Closing costs: $65,970
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-21
   days on market $2,199,000 Active 488 DOM
2. 2026-06-18
   days on market $2,199,000 Active 485 DOM
3. 2026-06-17
   days on market $2,199,000 Active 484 DOM
4. 2026-06-15
   days on market $2,199,000 Active 482 DOM
5. 2026-06-13
   days on market $2,199,000 Active 480 DOM
6. 2026-06-10
   days on market $2,199,000 Active 476 DOM
7. 2026-06-08
   days on market $2,199,000 Active 475 DOM
8. 2026-06-03
   days on market $2,199,000 Active 470 DOM
9. 2026-06-01
   days on market $2,199,000 Active 468 DOM
10. 2026-05-31
    days on market $2,199,000 Active 467 DOM
11. 2025-02-18
    listed $2,199,000 Active
12. 2000-07-05
    soldstatus $365,000
13. 1998-07-30
    soldstatus $140,000
14. 1982-10-01
    soldstatus $67,272
15. 1982-06-01
    soldstatus $47,272

ⓘ 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: $17,064 · $1,422/mo
• Projected year-2 tax: $27,113 · $2,259/mo
• Expected delta: +$10,050/yr (+$837/mo · 58.9%)

ⓘ 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 56% 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: $174,900
• − Mortgage interest: −$123,178
• − Property taxes: −$17,064
• − Insurance: −$10,995
• − Repairs & maintenance: −$13,992
• − Management: −$13,992
• − Depreciation: −$63,971
• Taxable loss: −$68,292
• Est. tax savings @ 24.0%: +$16,390
• After-tax cash flow: $-11,879/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): 90,652
• Household income: $69,883
• Rent vs Own: 73.3% rent · 26.7% own
• Severe rent burden: 6563.0

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 0.65)
• Race & ethnicity: Asian 40% Hispanic / Latino 40% White 16% Two or more races 7% Black 2% Native American 2%
• Hispanic origin (detail): Mexican 17% Puerto Rican 8% Dominican 5%
• Common ancestry: Romanian 1% Scotch-Irish 1% Subsaharan African 1%
• Foreign-born: 52% · China, Canada, Jamaica
• Languages at home: 20% English-only · Spanish 35% Chinese 35% Arabic 3%

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: ▲ 5.63%
• Current HPI: 226.624
• Rent YoY: ▲ 11.02%
• 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

+4551.8% since first listed

5 events — show timeline

• 2025-02-18 Listed $2,199,000 BNYMLS
• 2000-07-05 Sold (Public Records) $365,000 Public Records
• 1998-07-30 Sold (Public Records) $140,000 Public Records
• 1982-10-01 Sold (Public Records) $67,272 Public Records
• 1982-06-01 Sold (Public Records) $47,272 Public Records

Property tax history

+5.5%/yr

Latest (2025): $17,064 · +6.9% YoY. Source: county tax records.