4911 Surf Ave · New York, NY 11224

$1,650,000

None bd · None ba · 3,762 sqft · MultiFamily public records · 42 Days on market

Built 1930 5,356 sqft lot

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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 +17.8/30.0
• ARV discount +7.5/15.0
• Appreciation +7.5/10.0
• DSCR +5.6/10.0
• Schools +5.0/10.0
• Rent growth +4.3/5.0
• 1% rule +3.8/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Welcome home to this stunning solid-brick three-family residence, ideally situated on a quiet street in the private gated beachfront community of Sea Gate. Offering spacious layouts, beautiful outdoor space, and breathtaking water and bridge views, this exceptional property is perfect for both end users and investors alike. The home features three generously sized apartments plus additional finished space in the basement with a private entrance. The third-floor unit offers 3 bedrooms, 2 full baths, and a private balcony. The second-floor apartment mirrors the same desirable layout with 3 bedrooms, 2 baths, and its own balcony. The first floor includes a large 2-bedroom, 1-bath apartment with comfortable living and dining space. The finished basement adds valuable bonus space and features upgraded insulation, thermal windows, tiled floors, and a full bath — ideal for extended space, recreation, or storage. Additional highlights include hardwood floors throughout, a spacious sundeck, a beautifully maintained backyard, and well-maintained mechanicals, including the roof, boilers, and windows. The two front balconies showcase spectacular views of the Verrazzano-Narrows Bridge and New York Harbor. Located in one of Brooklyn’s most unique and family-friendly waterfront communities, this property offers privacy, security, and strong investment potential.

Key facts

• Thermal windows
• Private entrance
• Upgraded insulation

Tags

• SOLID-BRICK RESIDENCE
• BREATHTAKING WATER VIEWS
• FINISHED LIVING SPACE
• PRIVATE ENTRANCE
• UPGRADED INSULATION
• THERMAL WINDOWS

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public sewer; Electricity connected; Natural gas connected; Water connected
• Home design: Triplex
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Heating & cooling: Ductless cooling; Natural gas heating; Other heating
• Interior features: Finished basement

What this means for you Summary

Snapshot

• This is a 2×3bd/2ba + 1×2bd/1ba units multifamily listed at $1.65M.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $456/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 $1.45M (12.0% below list).
• Recommended offer: $1.45M (12.0% below list) — sets the bar for 1% rule.
• Cap rate 7.3% 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 (+7.0%/yr); 114 active listings in the ZIP; lower-income renter base — watch delinquency; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $14,517/mo this rent would consume 399% of the median local household income ($44k/yr) (locally 4426% 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 $94k of equity ($11k loan paydown + $82k appreciation (5.0% local appreciation)).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (5.0% appreciation + 7.0% rent growth), your $462k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$150k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($1.60M) 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.
• Current owner paid $1.13M; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 72% 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 $1,451,700 (12.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 12% 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. 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: 0.88% ✗
• Cap rate: 7.29%
• Cash-on-cash: 3.56%
• DSCR: 1.16
• GRM: 9.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.98% appreciation · 7.03% rent growth · sell at horizon

5-year hold

• IRR: 17.7%
• Equity multiple: 2.14×
• Total profit: $526,477
• Equity at exit: $933,230

10-year hold

• IRR: 19.4%
• Equity multiple: 4.59×
• Total profit: $1,657,483
• Equity at exit: $1,609,138

Cash invested: $462,000 (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 11224

• Home prices YoY: 1.0%
• Rents YoY: 7.0%
• Active inventory: 114
• Price-to-rent: 27.9×

Monthly cashflow live

• Estimated rent: $14,517 high
• Mortgage (P&I): −$8,653
• Tax from tax record: −$759 /mo · $9,107/yr
• Insurance: −$688
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,049
• Net cashflow: $1,369

Break-even live

Break-even rent $12,784

Max offer price $1,650,000

Occupancy floor 86%

Sensitivity live

Price	-10% $2,303	-5% $1,836	+0% $1,369	+5% $902	+10% $435
Rent	-10% $222	-5% $796	+0% $1,369	+5% $1,943	+10% $2,516
Rate	-1.0pp $2,200	-0.5pp $1,789	base $1,369	+0.5pp $942	+1.0pp $507

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$9,862
1× unit	2	1	$4,654
Total (3 units)			$14,517

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: $412,500
• Closing costs: $49,500
• Reserves months: —
• Total cash needed: —

Listing history 37 events

1. 2026-06-18
   days on market $1,650,000 Active 42 DOM
2. 2026-06-17
   days on market $1,650,000 Active 41 DOM
3. 2026-06-16
   days on market $1,650,000 Active 40 DOM
4. 2026-06-15
   days on market $1,650,000 Active 39 DOM
5. 2026-06-13
   days on market $1,650,000 Active 37 DOM
6. 2026-06-10
   days on market $1,650,000 Active 33 DOM
7. 2026-06-08
   days on market $1,650,000 Active 32 DOM
8. 2026-06-08
   days on market $1,650,000 Active 31 DOM
9. 2026-06-04
   days on market $1,650,000 Active 28 DOM
10. 2026-06-03
    days on market $1,650,000 Active 27 DOM
11. 2026-06-01
    days on market $1,650,000 Active 25 DOM
12. 2026-05-31
    days on market $1,650,000 Active 24 DOM
13. 2026-05-07
    listed $1,650,000 Active

    Show marketing remark (1393 chars)

    Welcome home to this stunning solid-brick three-family residence, ideally situated on a quiet street in the private gated beachfront community of Sea Gate. Offering spacious layouts, beautiful outdoor space, and breathtaking water and bridge views, this exceptional property is perfect for both end users and investors alike. The home features three generously sized apartments plus additional finished space in the basement with a private entrance. The third-floor unit offers 3 bedrooms, 2 full baths, and a private balcony. The second-floor apartment mirrors the same desirable layout with 3 bedrooms, 2 baths, and its own balcony. The first floor includes a large 2-bedroom, 1-bath apartment with comfortable living and dining space. The finished basement adds valuable bonus space and features upgraded insulation, thermal windows, tiled floors, and a full bath — ideal for extended space, recreation, or storage. Additional highlights include hardwood floors throughout, a spacious sundeck, a beautifully maintained backyard, and well-maintained mechanicals, including the roof, boilers, and windows. The two front balconies showcase spectacular views of the Verrazzano-Narrows Bridge and New York Harbor. Located in one of Brooklyn’s most unique and family-friendly waterfront communities, this property offers privacy, security, and strong investment potential.

14. 2026-05-07
    listed $1,650,000 Active 1393-char remark

    Show marketing remark (1393 chars)

    Welcome home to this stunning solid-brick three-family residence, ideally situated on a quiet street in the private gated beachfront community of Sea Gate. Offering spacious layouts, beautiful outdoor space, and breathtaking water and bridge views, this exceptional property is perfect for both end users and investors alike. The home features three generously sized apartments plus additional finished space in the basement with a private entrance. The third-floor unit offers 3 bedrooms, 2 full baths, and a private balcony. The second-floor apartment mirrors the same desirable layout with 3 bedrooms, 2 baths, and its own balcony. The first floor includes a large 2-bedroom, 1-bath apartment with comfortable living and dining space. The finished basement adds valuable bonus space and features upgraded insulation, thermal windows, tiled floors, and a full bath — ideal for extended space, recreation, or storage. Additional highlights include hardwood floors throughout, a spacious sundeck, a beautifully maintained backyard, and well-maintained mechanicals, including the roof, boilers, and windows. The two front balconies showcase spectacular views of the Verrazzano-Narrows Bridge and New York Harbor. Located in one of Brooklyn’s most unique and family-friendly waterfront communities, this property offers privacy, security, and strong investment potential.

15. 2024-10-23
    price $1,480,000
16. 2024-09-25
    price $1,500,000
17. 2024-09-04
    price $1,589,000
18. 2024-08-08
    price $1,599,000
19. 2024-07-09
    price $1,650,000
20. 2017-01-31
    soldstatus $1,130,000
21. 2017-01-31
    soldstatus $1,130,000 Closed
22. 2017-01-27
    soldstatus $1,130,000
23. 2017-01-19
    soldstatus $1,199,000
24. 2017-01-19
    price $1,199,000
25. 2016-08-31
    status Under Contract
26. 2016-07-11
    listed $1,199,000 New
27. 2016-07-11
    listed $1,130,000
28. 2016-07-10
    listed $1,199,000
29. 2016-01-28
    price $1,200,000
30. 2004-07-04
    soldstatus $689,000
31. 1992-06-22
    soldstatus $170,000
32. 1991-12-11
    soldstatus $315,500
33. 1987-02-06
    soldstatus $370,000
34. 1985-01-16
    soldstatus $220,000
35. 1985-01-16
    soldstatus $220,000
36. 1983-05-01
    soldstatus $137,272
37. 1983-05-01
    soldstatus $137,272

ⓘ 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: $9,107 · $759/mo
• Projected year-2 tax: $18,496 · $1,541/mo
• Expected delta: +$9,389/yr (+$782/mo · 103.1%)

ⓘ 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) · 54% 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 72% 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: $174,204
• − Mortgage interest: −$92,426
• − Property taxes: −$9,107
• − Insurance: −$8,250
• − Repairs & maintenance: −$13,936
• − Management: −$13,936
• − Depreciation: −$48,000
• Taxable loss: −$11,452
• Est. tax savings @ 24.0%: +$2,748
• After-tax cash flow: $19,179/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): 50,822
• Household income: $43,648
• Rent vs Own: 72.7% rent · 27.3% own
• Severe rent burden: 4426.0

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 0.68)
• Race & ethnicity: White 48% Black 22% Hispanic / Latino 19% Asian 8% Two or more races 7%
• Hispanic origin (detail): Mexican 5% Puerto Rican 8% Dominican 2%
• Common ancestry: Scotch-Irish 10% Subsaharan African 7% Romanian 1%
• Foreign-born: 48% · Canada, China
• Languages at home: 42% English-only · Russian/Polish/Slavic 32% Spanish 11% Chinese 5%

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: ▲ 4.98%
• Current HPI: 505.1405
• Rent YoY: ▲ 7.03%
• 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

+1102.0% since first listed

25 events — show timeline

• 2026-05-07 Listed $1,650,000 BNYMLS
• 2026-05-07 Listed $1,650,000 OneKey® MLS as Distributed by MLS Grid
• 2024-10-23 Price Changed $1,480,000 BNYMLS
• 2024-09-25 Price Changed $1,500,000 BNYMLS
• 2024-09-04 Price Changed $1,589,000 BNYMLS
• 2024-08-08 Price Changed $1,599,000 BNYMLS
• 2024-07-09 Price Changed $1,650,000 BNYMLS
• 2017-01-31 Sold (MLS) $1,130,000 OneKey® MLS as Distributed by MLS Grid
• 2017-01-31 Sold (MLS) $1,130,000 MLSLI
• 2017-01-27 Sold (Public Records) $1,130,000 Public Records
• 2017-01-19 Price Changed $1,199,000 RLS at REBNY
• 2017-01-19 Sold (MLS) $1,199,000 RLS at REBNY
• 2016-08-31 Pending — MLSLI
• 2016-07-11 Listed $1,199,000 MLSLI
• 2016-07-11 Listed $1,130,000 RLS at REBNY
• 2016-07-10 Listed $1,199,000 OneKey® MLS as Distributed by MLS Grid
• 2016-01-28 Price Changed $1,200,000 BNYMLS
• 2004-07-04 Sold (Public Records) $689,000 Public Records
• 1992-06-22 Sold (Public Records) $170,000 Public Records
• 1991-12-11 Sold (Public Records) $315,500 Public Records
• 1987-02-06 Sold (Public Records) $370,000 Public Records
• 1985-01-16 Sold (Public Records) $220,000 Public Records
• 1985-01-16 Sold (Public Records) $220,000 Public Records
• 1983-05-01 Sold (Public Records) $137,272 Public Records
• 1983-05-01 Sold (Public Records) $137,272 Public Records

Property tax history

+5.1%/yr

Latest (2025): $9,107 · +3.4% YoY. Source: county tax records.