1745 Union St · New York, NY 11213

$1,199,000

4 bd · 2.0 ba · 2,296 sqft · MultiFamily public records · 410 Days on market

Built 1901 1,800 sqft lot Est $969k · 24% over ↓ 2% since listing

---

Why this score? — see what drove the F 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).

• Appreciation +10.0/10.0
• Cash flow +7.3/30.0
• Schools +5.0/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• DSCR +1.5/10.0
• 1% rule +0.8/10.0
• ARV discount +0.0/15.0

Multi-family units

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

Listing remarks

ATTENTION INVESTORS. This property is a two-family limestone building located in the vibrant Crown Heights neighborhood of Brooklyn, New York. Being sold as is and with a holdover tenancy. One unit is occupied and one vacant. Cash deal preferred. The location offers excellent accessibility making it highly convenient for residents and commuters. Zoned as C4-3, this property falls within a commercial district. The C4-3 zoning supports a variety of development options. MAX FAR 2.43 RESIDENTIAL (subject to local regulations and approvals). This is a prime opportunity . Ideal for investors looking to capitalize on the area’s growth and zoning. Don’t miss out on this chance to inves

Key facts

• Commercial district
• C4-3 zoning
• Historic brownstones

Tags

• TWO-FAMILY LIMESTONE BUILDING
• C4-3 ZONING
• COMMERCIAL DISTRICT
• VARIETY OF DEVELOPMENT OPTIONS
• LIMESTONE CONSTRUCTION
• HISTORIC BROWNSTONES

Property features AI

Finance

• Other: Two-unit multi-family property
• Financial info: Financing options include cash, bank mortgage, or exchange considered

Exterior

• Parking: No parking
• Utilities: Electric with circuit breakers; Gas for heating and hot water; Steam/radiator heat delivery
• Home design: Attached building; Flat roof; Limestone exterior; Block construction
• Construction: Block foundation
• Exterior features: Front yard

Interior

• Kitchen: Oven/Range; Refrigerator
• Bedrooms: Two bedrooms on the first floor; Three bedrooms on the second floor; Property contains two separate units (one unit on each floor)
• Flooring: Hardwood floors
• Bathrooms: Two full bathrooms total (one on each floor)
• Heating & cooling: Steam/radiator heat; Gas hot water
• Interior features: Refrigerator; Stove; Full finished basement
• Laundry & utility: No central AC units

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $1.20M.

Deal economics

• At list price, monthly cash flow is $-2k ($-19k/yr) — negative. Per door: $-800/mo.
• To cash-flow at today's rent, offer at most $916k (23.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $697k (41.8% below list).
• Recommended offer: $697k (41.8% below list) — sets the bar for 1% rule.
• Cap rate 4.7% 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 (+6.0%/yr); 73 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $6,974/mo this rent would consume 128% of the median local household income ($65k/yr) (locally 6603% 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 $128k of equity ($8k loan paydown + $120k appreciation (10.0% local appreciation)).
• Kings County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$206k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 410 days — a 12% lower offer ($1.06M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 64% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $697,400 (41.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 410 days. Have you received any prior offers? Is the seller open to a 42% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
11. 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.
12. 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.
13. 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: 0.58% ✗
• Cap rate: 4.69%
• Cash-on-cash: -5.72%
• DSCR: 0.75
• GRM: 14.3

CMA / ARV

• ARV (on-the-fly): $968,912
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1830 Sterling Pl	0.75mi	4/—	2,491 (+8%)	1mo	$1,050,000	$422	50

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 5.95% rent growth · sell at horizon

5-year hold

• IRR: 20.9%
• Equity multiple: 2.70×
• Total profit: $571,815
• Equity at exit: $1,080,154

10-year hold

• IRR: 19.5%
• Equity multiple: 6.40×
• Total profit: $1,811,506
• Equity at exit: $2,329,393

Cash invested: $335,720 (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 11213

• Home prices YoY: 4.3%
• Rents YoY: 6.0%
• Active inventory: 73
• Price-to-rent: 28.7×

Monthly cashflow live

• Estimated rent: $6,974 high
• Mortgage (P&I): −$6,288
• Tax from tax record: −$322 /mo · $3,862/yr
• Insurance: −$500
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,465
• Net cashflow: $-1,600

Break-even live

Break-even rent $8,999

Max offer price $916,410

Occupancy floor —

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$6,974
Total (2 units)			$6,974

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: $299,750
• Closing costs: $35,970
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1065 Sterling Pl Unit Gdn Brooklyn, NY	3.0	1.5	1736	$5,995	$3.45	6d	1	0.67mi

Listing history 11 events

1. 2026-06-18
   days on market $1,199,000 Active 410 DOM
2. 2026-06-17
   days on market $1,199,000 Active 409 DOM
3. 2026-06-15
   days on market $1,199,000 Active 407 DOM
4. 2026-06-13
   days on market $1,199,000 Active 405 DOM
5. 2026-06-10
   days on market $1,199,000 Active 401 DOM
6. 2026-06-08
   days on market $1,199,000 Active 400 DOM
7. 2026-06-03
   days on market $1,199,000 Active 395 DOM
8. 2026-06-01
   days on market $1,199,000 Active 393 DOM
9. 2026-05-31
   days on market $1,199,000 Active 392 DOM
10. 2026-01-31
    price $1,199,000
11. 2025-05-03
    listed $1,225,000 Active

ⓘ 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: $3,862 · $322/mo
• Projected year-2 tax: $12,063 · $1,005/mo
• Expected delta: +$8,200/yr (+$683/mo · 212.3%)

ⓘ 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 ≥99°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 64% 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: $83,688
• − Mortgage interest: −$67,163
• − Property taxes: −$3,862
• − Insurance: −$5,995
• − Repairs & maintenance: −$6,695
• − Management: −$6,695
• − Depreciation: −$34,880
• Taxable loss: −$41,602
• Est. tax savings @ 24.0%: +$9,985
• After-tax cash flow: $-9,212/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): 68,846
• Household income: $65,127
• Rent vs Own: 83.2% rent · 16.8% own
• Severe rent burden: 6603.0

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 0.61)
• Race & ethnicity: Black 56% White 23% Hispanic / Latino 13% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Dominican 4%
• Common ancestry: Hispanic 5% Scotch-Irish 2% Romanian 1%
• Foreign-born: 32% · Canada, Mexico, China
• Languages at home: 76% English-only · Spanish 9% French/Haitian/Cajun 6% German/W. Germanic 2%

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: ▲ 23.71%
• Current HPI: 577.3841
• Rent YoY: ▲ 5.95%
• 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

-2.1% since first listed

2 events — show timeline

• 2026-01-31 Price Changed $1,199,000 BNYMLS
• 2025-05-03 Listed $1,225,000 BNYMLS

Property tax history

+5.6%/yr

Latest (2025): $3,862 · -2.4% YoY. Source: county tax records.