5622 4th Ave · New York, NY 11220

$2,500,000

24 bd · 8.0 ba · 8,492 sqft · MultiFamily public records · 1116 Days on market

Built 1904 3,333 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 +20.9/30.0
• Appreciation +7.8/10.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• 1% rule +4.9/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 8 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

SENSATIONAL SUNSET PARK OPPORTUNITY!! OWNER FINANCING AVAILABLE Well maintained, extra-large(8500 sqft bldg size) solid brick 8 family building for sale featuring 2 and 3 bedroom apts. The 2 ground floor owner’s apts will be DELIVERED VACANT. This property is close to the N & R trains, shopping, schools and the NYU Langone hospital. The potential rent roll will be approximately $140,000 which includes 2 owner’s apts at $1,800 each. Don’t miss out on this outstanding opportunity to own a prized piece of real estate in one of Brooklyn’s most desirable & sought-after neighborhoods…

Key facts

• 3,333 sq ft lot
• Built 1904
• Listed 1115 days

Property features AI

Finance

• Other: Located in Brooklyn (cross streets: 56th St and 57th St); Lot number 43
• Financial info: Eight-unit multi-family building; Unit mix: eight units total; Unit statuses include Owner Occupied, Month-to-Month, Leased, and No Lease; Projected/current rents reported on units (examples): $1,800, $1,118, $1,259, $826, $1,631, $1,706, $1,116; Financing options considered: exchange, bank mortgage, cash

Exterior

• Parking: Street parking
• Utilities: 200 Amp electric; Oil hot water; Oil heating fuel; Steam/radiator heat; Public water and sewer (standard municipal service implied)
• Home design: Attached building; Residential property; Zoning: R7A
• Construction: Brick construction; Asphalt/tar roof; Poured concrete foundation; Building footprint approximately 64 x 33
• Exterior features: Back yard

Interior

• Kitchen: Refrigerator; Stove
• Bedrooms: Eight-unit building with a total of 39 rooms; Level 1 units include five bedrooms; Level 2 units include six bedrooms; Level 3 units include six bedrooms; Level 4 units include six bedrooms
• Flooring: Other floors (see remarks)
• Bathrooms: Eight full bathrooms total; Two full bathrooms on each of Levels 1–4 (total by level shown in building summary); Individual units typically have one full bath
• Heating & cooling: Oil-fired hot water/steam heat with radiator delivery; 200 Amp electric service
• Interior features: Refrigerator; Stove; Full basement
• Laundry & utility: No central AC units reported

What this means for you Summary

Snapshot

• This is a 8 × 3-bed/1.0-bath units multifamily listed at $2.50M.

Deal economics

• At list price, monthly cash flow is $3k ($42k/yr) — positive. Per door: $436/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 $2.47M (1.3% below list).
• Recommended offer: $2.20M (12.0% below list) — sets the bar for market timing.
• Cap rate 8.0% 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.
• 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 $24,683/mo this rent would consume 424% 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 $158k of equity ($17k loan paydown + $141k appreciation (5.6% local appreciation)).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (5.6% appreciation + 8.0% rent growth), your $700k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$253k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 1116 days — a 12% lower offer ($2.20M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1904 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 62% 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 $2,200,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 1116 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 1904 — 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: 0.99% ✗
• Cap rate: 7.97%
• Cash-on-cash: 5.97%
• DSCR: 1.27
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 21.8%
• Equity multiple: 2.46×
• Total profit: $1,019,656
• Equity at exit: $1,514,002

10-year hold

• IRR: 23.1%
• Equity multiple: 5.52×
• Total profit: $3,163,779
• Equity at exit: $2,697,178

Cash invested: $700,000 (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 11220

• Home prices YoY: 2.5%
• Rents YoY: 11.0%
• Active inventory: 271
• Price-to-rent: 67.5×

Monthly cashflow live

• Estimated rent: $24,683 medium
• Mortgage (P&I): −$13,110
• Tax from tax record: −$1,863 /mo · $22,353/yr
• Insurance: −$1,042
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,183
• Net cashflow: $3,485

Break-even live

Break-even rent $20,272

Max offer price $2,500,000

Occupancy floor 81%

Sensitivity live

Price	-10% $4,900	-5% $4,192	+0% $3,485	+5% $2,777	+10% $2,070
Rent	-10% $1,535	-5% $2,510	+0% $3,485	+5% $4,460	+10% $5,435
Rate	-1.0pp $4,744	-0.5pp $4,121	base $3,485	+0.5pp $2,837	+1.0pp $2,178

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

Units	Beds	Baths	Est. rent
▸ 8× units	3	1	$24,680
Total (8 units)			$24,683

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: $625,000
• Closing costs: $75,000
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-21
   days on market $2,500,000 Active 1116 DOM
2. 2026-06-18
   days on market $2,500,000 Active 1113 DOM
3. 2026-06-17
   days on market $2,500,000 Active 1112 DOM
4. 2026-06-15
   days on market $2,500,000 Active 1110 DOM
5. 2026-06-13
   days on market $2,500,000 Active 1108 DOM
6. 2026-06-10
   days on market $2,500,000 Active 1104 DOM
7. 2026-06-08
   days on market $2,500,000 Active 1103 DOM
8. 2026-06-03
   days on market $2,500,000 Active 1098 DOM
9. 2026-06-01
   days on market $2,500,000 Active 1096 DOM
10. 2026-05-31
    days on market $2,500,000 Active 1095 DOM
11. 2023-05-31
    listed $2,500,000 Active
12. 2022-12-08
    price $1,998,000

ⓘ 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: $22,353 · $1,863/mo
• Projected year-2 tax: $32,302 · $2,692/mo
• Expected delta: +$9,948/yr (+$829/mo · 44.5%)

ⓘ 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 6/10 Major 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 62% 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: $296,196
• − Mortgage interest: −$140,039
• − Property taxes: −$22,353
• − Insurance: −$12,500
• − Repairs & maintenance: −$23,696
• − Management: −$23,696
• − Depreciation: −$72,727
• Taxable income: $1,185
• Est. tax owed @ 24.0%: −$285
• After-tax cash flow: $41,534/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

+25.1% since first listed

2 events — show timeline

• 2023-05-31 Listed $2,500,000 BNYMLS
• 2022-12-08 Price Changed $1,998,000 BNYMLS

Property tax history

+5.5%/yr

Latest (2025): $22,353 · +6.9% YoY. Source: county tax records.