277 7th St · New York, NY 11220

$4,200,000

40 bd · 20.0 ba · 15,708 sqft · MultiFamily · 149 Days on market

10,000 sqft lot

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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
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• Appreciation +7.8/10.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 20 units. estimate disagrees with records

Listing remarks

Prime Park Slope Investment | Rare 20-Unit Asset Exceptional opportunity to acquire a fully stabilized 20-unit multifamily building in Prime Park Slope, Brooklyn—one of the city’s most supply-constrained and high-demand rental markets. This well-maintained pre-war walk-up is in excellent condition and features a strong unit mix ranging from studios to three-bedroom apartments, ensuring consistent tenant demand and long-term income stability. The property is 100% occupied with all units rent-stabilized (no rent-controlled apartments), providing predictable cash flow and long-term appreciation potential. Additional upside is generated through a rooftop lease with AT & T for

Key facts

• Strong unit mix
• Rent stabilized
• Pre war walk up

Tags

• 20 UNIT ASSET
• FULLY STABILIZED
• PRE WAR WALK UP
• STRONG UNIT MIX
• 100 PERCENT OCCUPIED
• RENT STABILIZED

Property features AI

Finance

• Financial info: Financing options include exchange considered, bank mortgage, or cash; Reported utility expense: 2034.00

Exterior

• Parking: No dedicated parking
• Utilities: 220V electric; Gas hot water; Gas heating; Steam/radiator system
• Home design: Attached building; Residential property; Flat roof
• Construction: Block and brick construction; Block foundation; Built footprint approximately 4,450 sq ft (building dimensions 89.00 x 50.00)
• Exterior features: Back yard; Brick exterior

Interior

• Flooring: Hardwood floors
• Bathrooms: 20 full bathrooms
• Heating & cooling: Gas hot water; Gas heating; Steam/radiator heat; No central air units reported
• Interior features: Hardwood floors; Unfinished basement

What this means for you Summary

Snapshot

• This is a 20 × 2-bed/1.0-bath units multifamily listed at $4.20M.

Deal economics

• At list price, monthly cash flow is $18k ($219k/yr) — positive. Per door: $914/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($60k rent vs $4.20M).
• Recommended offer: $3.70M (12.0% below list) — sets the bar for market timing.
• Cap rate 11.5% 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 $59,872/mo this rent would consume 1028% 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 $266k of equity ($29k loan paydown + $237k 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 $1.18M cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$425k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 149 days — a 12% lower offer ($3.70M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 61% 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 $3,696,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 149 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.43% ✓
• Cap rate: 11.51%
• Cash-on-cash: 18.65%
• DSCR: 1.83
• GRM: 5.8

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: 33.5%
• Equity multiple: 3.21×
• Total profit: $2,602,841
• Equity at exit: $2,543,523

10-year hold

• IRR: 33.8%
• Equity multiple: 7.43×
• Total profit: $7,557,605
• Equity at exit: $4,531,260

Cash invested: $1,176,000 (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: 116.9×

Monthly cashflow live

• Estimated rent: $59,872 medium
• Mortgage (P&I): −$22,025
• Tax est. 1.5%: −$5,250 /mo · $63,000/yr
• Insurance: −$1,750
• HOA: −$0
• Vacancy / Maint / Mgmt: −$12,573
• Net cashflow: $18,274

Break-even live

Break-even rent $36,741

Max offer price $4,200,000

Occupancy floor 64%

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

Units	Beds	Baths	Est. rent
▸ 20× units	2	1	$59,880
Total (20 units)			$59,872

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: $1,050,000
• Closing costs: $126,000
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-18
   days on market $4,200,000 Active 149 DOM
2. 2026-06-17
   days on market $4,200,000 Active 148 DOM
3. 2026-06-15
   days on market $4,200,000 Active 146 DOM
4. 2026-06-13
   days on market $4,200,000 Active 144 DOM
5. 2026-06-10
   days on market $4,200,000 Active 140 DOM
6. 2026-06-08
   days on market $4,200,000 Active 139 DOM
7. 2026-06-04
   days on market $4,200,000 Active 135 DOM
8. 2026-06-03
   days on market $4,200,000 Active 134 DOM
9. 2026-06-01
   days on market $4,200,000 Active 132 DOM
10. 2026-05-31
    days on market $4,200,000 Active 131 DOM
11. 2026-01-20
    listed $4,200,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 61% 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: $718,464
• − Mortgage interest: −$235,265
• − Property taxes: −$63,000
• − Insurance: −$21,000
• − Repairs & maintenance: −$57,477
• − Management: −$57,477
• − Depreciation: −$122,182
• Taxable income: $162,063
• Est. tax owed @ 24.0%: −$38,895
• After-tax cash flow: $180,388/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

1 event — show timeline

• 2026-01-20 Listed $4,200,000 BNYMLS