239 Warwick St · New York, NY 11207

$438,900

4 bd · 2.0 ba · 1,719 sqft · MultiFamily public records · 11 Days on market

Built 1910 2,375 sqft lot Est $689k · 36% under

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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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• Schools +5.0/10.0
• Rent growth +3.8/5.0
• 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 (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

This brick duplex in East New York offers a compelling value-add opportunity in a stable Brooklyn market. Featuring approximately 1,700+ square feet across multiple bedrooms, plus a finished basement, the property supports strong multifamily utility. Recent nearby duplex sales support as-is pricing in the low-to-mid $400,000s, providing clear market validation. The home is currently occupied and in fair condition, with upside potential through future improvements reflected in the price. Located near major transportation corridors and neighborhood amenities, the asset benefits from solid long-term market fundamentals and typical 3–6 month absorption. Ideal for investors or end users se

Key facts

• 2,375 sq ft lot
• Built 1910
• Listed 11 days

Property features AI

Exterior

• Parking: No carport; No designated parking features
• Utilities: Public sewer; Utilities: see remarks
• Home design: Single family residence; Living area verified by appraiser
• Construction: Frame construction
• Exterior features: Frame construction; Not waterfront

Interior

• Kitchen: No appliances reported
• Bedrooms: 10 total rooms (bedroom count not specified)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Natural gas heating; Other heating; No cooling
• Interior features: Other interior features; Full unfinished basement
• Laundry & utility: No laundry appliances reported

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $439k.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $439k).
• Cap rate 12.0% 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 (+5.3%/yr); 251 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $6,317/mo this rent would consume 134% of the median local household income ($57k/yr) (locally 7510% 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 $3k of loan paydown is wiped out by about $13k 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 + 5.3% rent growth), your $123k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; major wind risk, 39% 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 $438,900

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.44% ✓
• Cap rate: 12.01%
• Cash-on-cash: 20.42%
• DSCR: 1.91
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $689,319
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
399 Warwick St	0.30mi	4/2.0	1,800 (+5%)	8mo	$455,000	$253	71
551 Liberty Ave	0.23mi	5/2.0 (+1)	1,676 (-2%)	12mo	$672,001	$401	70
74 Fountain Ave	0.55mi	5/3.0 (+1)	1,728 (+0%)	8mo	$910,000	$527	58
215 Warwick St	0.04mi	5/3.0 (+1)	1,964 (+14%)	10mo	$975,000	$496	57
210 Barbey St	0.12mi	5/2.0 (+1)	1,920 (+12%)	22mo	$640,000	$333	52
361 Chestnut Ct	0.67mi	5/3.0 (+1)	1,680 (-2%)	10mo	$999,990	$595	48
545 Logan St	0.71mi	5/3.0 (+1)	1,640 (-5%)	4mo	$630,000	$384	46

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 · 5.29% rent growth · sell at horizon

5-year hold

• IRR: 14.4%
• Equity multiple: 1.59×
• Total profit: $72,800
• Equity at exit: $65,441

10-year hold

• IRR: 24.8%
• Equity multiple: 3.39×
• Total profit: $293,717
• Equity at exit: $37,948

Cash invested: $122,892 (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 11207

• Home prices YoY: -26.3%
• Rents YoY: 5.3%
• Active inventory: 251
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $6,317 high
• Mortgage (P&I): −$2,302
• Tax from tax record: −$414 /mo · $4,972/yr
• Insurance: −$183
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,327
• Net cashflow: $2,025

Break-even live

Break-even rent $3,754

Max offer price $438,900

Occupancy floor 63%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$6,318
Total (2 units)			$6,317

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: $109,725
• Closing costs: $13,167
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
294 Ridgewood Ave Brooklyn, NY	4.0	2.0	1200	$3,500	$2.92	24d	1	0.63mi
22 Granite St Brooklyn, NY	4.0	2.0	586	$1,150	$1.96	5d	1	1.13mi
60-08 78th Ave Unit 2 Glendale, NY	3.0	1.0	2200	$3,099	$1.41	5d	1	1.33mi
7801 64th St Glendale, NY	4.0	1.0	1175	$3,200	$2.72	24d	1	1.34mi
8825 75th St Woodhaven, NY	4.0	1.5	1140	$4,000	$3.51	24d	1	1.34mi
8825 75th St Woodhaven, NY	4.0	1.5	1140	$4,000	$3.51	8d	1	1.34mi
8836 77th St Woodhaven, NY	4.0	2.0	1500	$4,200	$2.80	24d	1	1.40mi

Listing history 10 events

1. 2026-05-01
   status Pending
2. 2026-04-20
   listed $438,900 Active
3. 2005-03-25
   soldstatus $425,200
4. 2003-07-01
   soldstatus $380,000
5. 2001-10-03
   soldstatus $256,000
6. 1997-12-10
   soldstatus $181,000
7. 1996-09-19
   soldstatus $160,000
8. 1995-10-06
   soldstatus $115,000
9. 1984-09-01
   soldstatus $63,500
10. 1983-10-01
    soldstatus $29,000

ⓘ 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: $4,972 · $414/mo
• Projected year-2 tax: $6,195 · $516/mo
• Expected delta: +$1,223/yr (+$102/mo · 24.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% 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 39% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $75,804
• − Mortgage interest: −$24,585
• − Property taxes: −$4,972
• − Insurance: −$2,992
• − Repairs & maintenance: −$6,064
• − Management: −$6,064
• − Depreciation: −$12,768
• Taxable income: $18,358
• Est. tax owed @ 24.0%: −$4,406
• After-tax cash flow: $19,895/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): 93,198
• Household income: $56,523
• Rent vs Own: 74.1% rent · 25.9% own
• Severe rent burden: 7510.0

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 0.59)
• Race & ethnicity: Black 54% Hispanic / Latino 33% Two or more races 10% White 5% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 11% Dominican 11%
• Common ancestry: Hispanic 1% Swiss 1%
• Foreign-born: 31% · Canada, Mexico, Jamaica
• Languages at home: 67% English-only · Spanish 27% French/Haitian/Cajun 2% Other Indo-European 1%

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: ▼ -138.76%
• Current HPI: 388.434
• Rent YoY: ▲ 5.29%
• 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

+1413.4% since first listed

10 events — show timeline

• 2026-05-01 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-04-20 Listed $438,900 OneKey® MLS as Distributed by MLS Grid
• 2005-03-25 Sold (Public Records) $425,200 Public Records
• 2003-07-01 Sold (Public Records) $380,000 Public Records
• 2001-10-03 Sold (Public Records) $256,000 Public Records
• 1997-12-10 Sold (Public Records) $181,000 Public Records
• 1996-09-19 Sold (Public Records) $160,000 Public Records
• 1995-10-06 Sold (Public Records) $115,000 Public Records
• 1984-09-01 Sold (Public Records) $63,500 Public Records
• 1983-10-01 Sold (Public Records) $29,000 Public Records

Property tax history

+4.9%/yr

Latest (2025): $4,972 · +1.0% YoY. Source: county tax records.