268 Dean St · New York, NY 11217

$2,499,950

12 bd · 4.0 ba · 3,600 sqft · MultiFamily public records · 36 Days on market

Built 1910 2,000 sqft lot

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Why this score? — see what drove the B+ 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 +27.9/30.0
• Appreciation +10.0/10.0
• DSCR +9.9/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Schools +5.0/10.0
• Rent growth +4.2/5.0
• 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: 4 units. estimate disagrees with records

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

Beautiful and stunning brick townhouse style home in the highly sought-after Boerum Hill section of Brooklyn, having 10 studio units and one garden style 1-bedroom. This amazing opportunity offers close proximity to many area amenities, including the Atlantic Terminal Mall, Barclays Center, eateries, specialty shops, many forms of transportation, schools, parks, and other area amenities. Please do not disturb occupants. The building is mostly occupied and will not be delivered vacant. The building is subject to rent-regulations.

Key facts

• Garden style
• Studio units
• Transportation

Tags

• BRICK TOWNHOUSE
• BOERUM HILL
• STUDIO UNITS
• GARDEN STYLE
• TRANSPORTATION
• SCHOOLS

Property features AI

Finance

• Other: Pets allowed (building-level rules indicate some units allow pets; restrictions apply)
• Financial info: Annual property tax approximately $12,960; Multi-unit property with 6 total units

Exterior

• Home design: Three-story building; Entry level at street level
• Construction: Green building
• Exterior features: Property has a view; Lot approximately 2,000 sq ft with dimensions ~20 x 100

Interior

• Bathrooms: Four full bathrooms
• Interior features: Smoke-free building; Basement (other)
• Laundry & utility: Building laundry

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/?-bath units multifamily listed at $2.50M.

Deal economics

• At list price, monthly cash flow is $8k ($92k/yr) — positive. Per door: $2k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($29k rent vs $2.50M).
• Recommended offer: $2.42M (3.0% below list) — sets the bar for market timing.
• Cap rate 10.0% 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 (+6.7%/yr); 124 active listings in the ZIP; high-income renter base; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $29,025/mo this rent would consume 214% of the median local household income ($163k/yr) (locally 2688% 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 $267k of equity ($17k loan paydown + $250k appreciation (10.0% local appreciation)).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 6.7% rent growth), your $700k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$430k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($2.42M) is reasonable based on typical stale-listing flexibility.
• 17 sale attempts since 13y 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 $1.06M; list at $2.50M implies a 135% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $2,424,951 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% 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 1910 — 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: 1.16% ✓
• Cap rate: 9.99%
• Cash-on-cash: 13.21%
• DSCR: 1.59
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 6.7% rent growth · sell at horizon

5-year hold

• IRR: 35.6%
• Equity multiple: 3.80×
• Total profit: $1,963,442
• Equity at exit: $2,252,153

10-year hold

• IRR: 31.9%
• Equity multiple: 9.08×
• Total profit: $5,658,393
• Equity at exit: $4,856,853

Cash invested: $699,986 (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 11217

• Home prices YoY: 2.5%
• Rents YoY: 6.7%
• Active inventory: 124
• Price-to-rent: 28.7×

Monthly cashflow live

• Estimated rent: $29,025 high
• Mortgage (P&I): −$13,110
• Tax from tax record: −$1,074 /mo · $12,891/yr
• Insurance: −$1,042
• HOA: −$0
• Vacancy / Maint / Mgmt: −$6,095
• Net cashflow: $7,704

Break-even live

Break-even rent $19,273

Max offer price $2,499,950

Occupancy floor 68%

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

Units	Beds	Baths	Est. rent
▸ 4× units	3	—	$29,024
Total (4 units)			$29,025

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: $624,988
• Closing costs: $74,998
• Reserves months: —
• Total cash needed: —

Listing history 42 events

1. 2026-06-18
   days on market $2,499,950 Active 36 DOM
2. 2026-06-17
   days on market $2,499,950 Active 35 DOM
3. 2026-06-16
   days on market $2,499,950 Active 34 DOM
4. 2026-06-15
   days on market $2,499,950 Active 33 DOM
5. 2026-06-13
   days on market $2,499,950 Active 31 DOM
6. 2026-06-10
   days on market $2,499,950 Active 27 DOM
7. 2026-06-08
   days on market $2,499,950 Active 26 DOM
8. 2026-06-08
   days on market $2,499,950 Active 25 DOM
9. 2026-06-04
   days on market $2,499,950 Active 22 DOM
10. 2026-06-03
    days on market $2,499,950 Active 21 DOM
11. 2026-06-02
    days on market $2,499,950 Active 20 DOM
12. 2026-06-01
    days on market $2,499,950 Active 19 DOM
13. 2026-05-31
    days on market $2,499,950 Active 18 DOM
14. 2026-05-13
    listed $2,499,950 Active
15. 2023-04-17
    listed $2,700,000 Active
16. 2021-09-24
    price $3,050,000
17. 2021-07-30
    price $3,150,000
18. 2021-06-28
    price $3,250,000
19. 2021-06-02
    price $3,350,000
20. 2021-04-12
    price $3,450,000
21. 2021-02-05
    status Active
22. 2021-01-28
    price $3,550,000
23. 2020-11-06
    price $3,650,000
24. 2020-07-07
    listed $3,050,000 Active
25. 2020-07-07
    listed $3,650,000 Active
26. 2019-06-18
    listed $3,995,000 Active
27. 2019-06-18
    listed $3,995,000
28. 2018-06-29
    price $3,349,000
29. 2018-01-10
    listed $3,349,000
30. 2018-01-10
    listed $3,490,000 Active
31. 2016-01-06
    listed $2,600,000
32. 2016-01-06
    listed $2,600,000
33. 2015-07-13
    listed $2,699,000
34. 2015-07-13
    listed $2,699,000
35. 2014-10-27
    listed $2,050,000
36. 2013-05-22
    soldstatus $1,065,000
37. 2013-02-06
    listed $1,100,000
38. 2013-02-06
    listed $1,100,000
39. 2013-02-06
    listed $1,100,000
40. 2004-02-25
    soldstatus $450,000
41. 1996-08-28
    soldstatus $64,000
42. 1981-10-01
    soldstatus $34,545

ⓘ 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: $12,891 · $1,074/mo
• Projected year-2 tax: $27,570 · $2,298/mo
• Expected delta: +$14,679/yr (+$1,223/mo · 113.9%)

ⓘ 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 ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $348,300
• − Mortgage interest: −$140,036
• − Property taxes: −$12,891
• − Insurance: −$12,500
• − Repairs & maintenance: −$27,864
• − Management: −$27,864
• − Depreciation: −$72,726
• Taxable income: $54,419
• Est. tax owed @ 24.0%: −$13,061
• After-tax cash flow: $79,385/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): 43,490
• Household income: $162,863
• Rent vs Own: 72.2% rent · 27.8% own
• Severe rent burden: 2688.0

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 0.69)
• Race & ethnicity: White 50% Black 16% Hispanic / Latino 16% Two or more races 15% Asian 9%
• Hispanic origin (detail): Mexican 2% Puerto Rican 7% Dominican 1%
• Common ancestry: Romanian 3% Lithuanian 2% Scotch-Irish 2%
• Foreign-born: 19% · Canada, China, South Korea
• Languages at home: 74% English-only · Spanish 11% French/Haitian/Cajun 4% Other Indo-European 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: ▲ 11.76%
• Current HPI: 491.2658
• Rent YoY: ▲ 6.70%
• 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

+7136.8% since first listed

29 events — show timeline

• 2026-05-13 Listed $2,499,950 RLS at REBNY
• 2023-04-17 Listed $2,700,000 RLS at REBNY
• 2021-09-24 Price Changed $3,050,000 RLS at REBNY
• 2021-07-30 Price Changed $3,150,000 RLS at REBNY
• 2021-06-28 Price Changed $3,250,000 RLS at REBNY
• 2021-06-02 Price Changed $3,350,000 RLS at REBNY
• 2021-04-12 Price Changed $3,450,000 RLS at REBNY
• 2021-02-05 Relisted — RLS at REBNY
• 2021-01-28 Price Changed $3,550,000 RLS at REBNY
• 2020-11-06 Price Changed $3,650,000 RLS at REBNY
• 2020-07-07 Listed $3,650,000 RLS at REBNY
• 2020-07-07 Listed $3,050,000 RLS at REBNY
• 2019-06-18 Listed $3,995,000 RLS at REBNY
• 2019-06-18 Listed $3,995,000 RLS at REBNY
• 2018-06-29 Price Changed $3,349,000 RLS at REBNY
• 2018-01-10 Listed $3,490,000 RLS at REBNY
• 2018-01-10 Listed $3,349,000 RLS at REBNY
• 2016-01-06 Listed $2,600,000 RLS at REBNY
• 2016-01-06 Listed $2,600,000 RLS at REBNY
• 2015-07-13 Listed $2,699,000 RLS at REBNY
• 2015-07-13 Listed $2,699,000 RLS at REBNY
• 2014-10-27 Listed $2,050,000 RLS at REBNY
• 2013-05-22 Sold (Public Records) $1,065,000 Public Records
• 2013-02-06 Listed $1,100,000 RLS at REBNY
• 2013-02-06 Listed $1,100,000 RLS at REBNY
• 2013-02-06 Listed $1,100,000 RLS at REBNY
• 2004-02-25 Sold (Public Records) $450,000 Public Records
• 1996-08-28 Sold (Public Records) $64,000 Public Records
• 1981-10-01 Sold (Public Records) $34,545 Public Records

Property tax history

+5.5%/yr

Latest (2025): $12,891 · +6.9% YoY. Source: county tax records.