2027 78th St · New York, NY 11214

$1,100,000

12 bd · 6.0 ba · 5,600 sqft · MultiFamily public records · 87 Days on market

Built 1924 2,700 sqft lot Est $1826k · 40% under ↓ 33% since listing

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Why this score? — see what drove the A- 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 (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

This 6-family brick building in Bensonhurst offers significant potential due to its location and income generation. Each of the six units features two spacious bedrooms, one full bathroom, a combined living/dining area, and a well-maintained kitchen. Other features include updated electric wires, and great tenants that keeps and maintain the building in good and excellent condition. This income-generating building offers a steady stream of income for the next couple of years, and its location makes it a unique investment. Conveniently located minutes away from the D train, buses, 86th St shopping, restaurants, and more. Won't Last!

Key facts

• Unique investment
• Brick building
• Conveniently located

Tags

• BRICK BUILDING
• UPDATED ELECTRIC WIRES
• WELL MAINTAINED KITCHEN
• UNIQUE INVESTMENT
• CONVENIENTLY LOCATED

Property features AI

Finance

• Other: Zoning: R5
• Financial info: Currently a 6-unit multifamily building; Reported rent income: $7,964; Utilities expense listed; Financing options considered: exchange, bank mortgage, cash

Exterior

• Parking: No designated parking
• Utilities: Electric: 110V and 220V, circuit breakers; Hot water: gas; Heating fuel: gas
• Home design: Attached building; Residential property; Flat/rubber roof; Building footprint approximately 70 x 27
• Construction: Brick exterior; Poured concrete foundation
• Exterior features: Front yard; Back yard

Interior

• Kitchen: Appliances included: microwave, refrigerator, stove
• Bedrooms: Four bedrooms on each of levels 1, 2 and 3 (total spread across units)
• Flooring: Hardwood floors; Tile floors; Other floor types (see remarks)
• Bathrooms: Six full bathrooms total (two full baths on each of levels 1, 2 and 3)
• Heating & cooling: Steam/radiator heat; Gas-fired hot water; 110V and 220V electrical with circuit breakers
• Interior features: Central A/C with 5+ units; Microwave; Refrigerator; Stove; Full unfinished basement with separate entrance
• Laundry & utility: Washer/dryer not specifically listed

What this means for you Summary

Snapshot

• This is a 6 × 2-bed/1.0-bath units multifamily listed at $1.10M.

Deal economics

• At list price, monthly cash flow is $11k ($137k/yr) — positive. Per door: $2k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($25k rent vs $1.10M).
• Recommended offer: $1.03M (6.0% below list) — sets the bar for market timing.
• Cap rate 18.8% 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 $24,662/mo this rent would consume 449% 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 $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 + 5.9% rent growth), your $308k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($1.03M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $88k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1924 — 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 $1,033,999 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% 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 1924 — 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: 2.24% ✓
• Cap rate: 18.77%
• Cash-on-cash: 44.58%
• DSCR: 2.98
• GRM: 3.7

CMA / ARV

• ARV (on-the-fly): $1,825,600
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2357 81 St	0.51mi	12/6.0	5,670 (+1%)	8mo	$1,850,000	$326	68
7619 21st Ave	0.13mi	11/6.0 (-1)	5,031 (-10%)	12mo	$1,380,000	$274	62
7124 21st Ave	0.31mi	12/7.0	4,797 (-14%)	22mo	$1,200,000	$250	40
8420 17th Ave	0.60mi	13/7.0 (+1)	5,000 (-11%)	21mo	$2,295,000	$459	27

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: 44.9%
• Equity multiple: 3.03×
• Total profit: $624,356
• Equity at exit: $164,014

10-year hold

• IRR: 52.1%
• Equity multiple: 6.86×
• Total profit: $1,803,475
• 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 11214

• Rents YoY: 5.9%
• Active inventory: 330
• Price-to-rent: 22.3×

Monthly cashflow live

• Estimated rent: $24,662 high
• Mortgage (P&I): −$5,769
• Tax from tax record: −$1,815 /mo · $21,778/yr
• Insurance: −$458
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,179
• Net cashflow: $11,441

Break-even live

Break-even rent $10,179

Max offer price $1,100,000

Occupancy floor 49%

Sensitivity live

Price	-10% $12,064	-5% $11,753	+0% $11,441	+5% $11,130	+10% $10,819
Rent	-10% $9,493	-5% $10,467	+0% $11,441	+5% $12,415	+10% $13,390
Rate	-1.0pp $11,995	-0.5pp $11,721	base $11,441	+0.5pp $11,156	+1.0pp $10,866

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

Units	Beds	Baths	Est. rent
▸ 6× units	2	1	$24,660
Total (6 units)			$24,662

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 31 events

1. 2026-06-18
   days on market $1,100,000 Active 87 DOM
2. 2026-06-17
   days on market $1,100,000 Active 86 DOM
3. 2026-06-15
   days on market $1,100,000 Active 84 DOM
4. 2026-06-13
   days on market $1,100,000 Active 82 DOM
5. 2026-06-10
   days on market $1,100,000 Active 78 DOM
6. 2026-06-08
   days on market $1,100,000 Active 77 DOM
7. 2026-06-08
   days on market $1,100,000 Active 76 DOM
8. 2026-06-04
   days on market $1,100,000 Active 73 DOM
9. 2026-06-03
   days on market $1,100,000 Active 72 DOM
10. 2026-06-01
    days on market $1,100,000 Active 70 DOM
11. 2026-05-31
    days on market $1,100,000 Active 69 DOM
12. 2026-05-05
    status Active
13. 2026-05-02
    historical
14. 2026-03-31
    price $1,100,000
15. 2026-03-19
    listed $1,188,000 Active
16. 2025-09-15
    price $1,229,000
17. 2025-09-09
    price $1,235,000
18. 2025-09-04
    price $1,238,000
19. 2025-08-28
    price $1,249,000
20. 2025-08-15
    price $1,259,000
21. 2025-08-01
    price $1,265,000
22. 2025-07-30
    price $1,268,888
23. 2025-07-24
    price $1,279,000
24. 2025-07-07
    price $1,288,000
25. 2025-06-26
    price $1,298,000
26. 2025-06-26
    price $12,980,000
27. 2025-01-15
    price $1,480,000
28. 2024-09-26
    price $1,500,000
29. 2024-09-12
    price $1,559,000
30. 2024-08-15
    price $1,599,999
31. 2024-06-01
    price $1,649,000

ⓘ 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: $21,778 · $1,815/mo
• Projected year-2 tax: $21,778 · $1,815/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $295,944
• − Mortgage interest: −$61,617
• − Property taxes: −$21,778
• − Insurance: −$5,500
• − Repairs & maintenance: −$23,676
• − Management: −$23,676
• − Depreciation: −$32,000
• Taxable income: $127,698
• Est. tax owed @ 24.0%: −$30,647
• After-tax cash flow: $106,648/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

-33.3% since first listed

20 events — show timeline

• 2026-05-05 Relisted — BNYMLS
• 2026-05-02 Delisted — BNYMLS
• 2026-03-31 Price Changed $1,100,000 BNYMLS
• 2026-03-19 Listed $1,188,000 BNYMLS
• 2025-09-15 Price Changed $1,229,000 BNYMLS
• 2025-09-09 Price Changed $1,235,000 BNYMLS
• 2025-09-04 Price Changed $1,238,000 BNYMLS
• 2025-08-28 Price Changed $1,249,000 BNYMLS
• 2025-08-15 Price Changed $1,259,000 BNYMLS
• 2025-08-01 Price Changed $1,265,000 BNYMLS
• 2025-07-30 Price Changed $1,268,888 BNYMLS
• 2025-07-24 Price Changed $1,279,000 BNYMLS
• 2025-07-07 Price Changed $1,288,000 BNYMLS
• 2025-06-26 Price Changed $1,298,000 BNYMLS
• 2025-06-26 Price Changed $12,980,000 BNYMLS
• 2025-01-15 Price Changed $1,480,000 BNYMLS
• 2024-09-26 Price Changed $1,500,000 BNYMLS
• 2024-09-12 Price Changed $1,559,000 BNYMLS
• 2024-08-15 Price Changed $1,599,999 BNYMLS
• 2024-06-01 Price Changed $1,649,000 BNYMLS

Property tax history

+5.5%/yr

Latest (2025): $21,778 · +6.9% YoY. Source: county tax records.