3028 Brighton 8th St · New York, NY 11235

$874,900

8 bd · 3.0 ba · 2,961 sqft · MultiFamily public records · 43 Days on market

Built 1925 1,701 sqft lot Est $1253k · 30% under

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Why this score? — see what drove the C+ 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 +20.5/30.0
• ARV discount +15.0/15.0
• DSCR +6.5/10.0
• Schools +5.0/10.0
• 1% rule +4.6/10.0
• 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 MLS

EVERYTHING RENOVATED IN and OUT, NEW STUCCO, ROOF, 3 NEW KITCHENS, 4 BATHS, SHEET ROCK, FLOORS.CALL CARAL FOR ALL APPOINTMENTS.

Key facts

• 1,701 sq ft lot
• Parking
• Built 1925

Tags

• PRIME BRIGHTON BEACH LOCATION
• BRIGHTON BEACH STATION
• BRIGHTON BEACH BOARDWALK
• BRIGHTON PLAYGROUND NEARBY

Property features AI

Finance

• Financial info: Cash financing indicated

Exterior

• Parking: Shared drive with one designated parking space
• Utilities: 220V electric; Gas hot water; Gas for heating; Steam/radiator heat delivery
• Home design: Detached residential building; Three levels (rooms and baths distributed across three levels)
• Construction: Brick and masonry construction; Shingle roof; Poured concrete foundation; Built footprint approximately 987 sq ft
• Exterior features: Back yard; Stucco exterior

Interior

• Bedrooms: Three bedrooms on the first level; Two bedrooms on the second level; Three bedrooms on the third level
• Flooring: Hardwood floors
• Bathrooms: Three full bathrooms (one on each level)
• Heating & cooling: Steam/radiator heat; Gas heating; 220V electric service
• Interior features: Finished basement; Hardwood floors; No central air conditioning noted

What this means for you Summary

Snapshot

• This is a 8-bed/3.0-bath multifamily listed at $875k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $839k (4.1% below list).
• Recommended offer: $839k (4.1% below list) — sets the bar for 1% rule.
• Cap rate 7.9% 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.
• Zoned schools: Ps 225 Eileen E Zaglin (The) (math 57% / reading 52%, grade C, #908 of 2,108 statewide, top 46%, 963 students, 84% FRL); Is 98 Bay Academy (math 96% / reading 96%, grade A+, #2 of 729 statewide, top 0%, 1,488 students, 63% FRL); Midwood High School (math 94% / reading 96%, grade A+, #83 of 1,100 statewide, top 8%, 4,062 students, 73% FRL).
• Market conditions: Rents rising fast (+5.0%/yr); 524 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $8,387/mo this rent would consume 169% of the median local household income ($60k/yr) (locally 7823% 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 $6k of loan paydown is wiped out by about $26k 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.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($849k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y 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 $700k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 72% 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 $838,700 (4.1% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.96% ✗
• Cap rate: 7.86%
• Cash-on-cash: 5.61%
• DSCR: 1.25
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $1,252,503
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2540 E 11th St	0.65mi	7/4.0 (-1)	2,920 (-1%)	1mo	$999,000	$342	58
2915 Brighton 7th St	0.14mi	8/5.0	3,280 (+11%)	17mo	$1,475,000	$450	53
3046 Brighton 4th St	0.18mi	9/4.5 (+1)	2,600 (-12%)	22mo	$1,100,000	$423	42

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 · 5.04% rent growth · sell at horizon

5-year hold

• IRR: -5.5%
• Equity multiple: 0.79×
• Total profit: $-51,449
• Equity at exit: $130,450

10-year hold

• IRR: 6.2%
• Equity multiple: 1.50×
• Total profit: $123,421
• Equity at exit: $75,645

Cash invested: $244,972 (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 11235

• Rents YoY: 5.0%
• Active inventory: 524
• Price-to-rent: 17.4×

Monthly cashflow live

• Estimated rent: $8,387 high
• Mortgage (P&I): −$4,588
• Tax from tax record: −$527 /mo · $6,327/yr
• Insurance: −$365
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,761
• Net cashflow: $1,146

Break-even live

Break-even rent $6,937

Max offer price $874,900

Occupancy floor 81%

Sensitivity live

Price	-10% $1,641	-5% $1,393	+0% $1,146	+5% $898	+10% $651
Rent	-10% $483	-5% $815	+0% $1,146	+5% $1,477	+10% $1,808
Rate	-1.0pp $1,586	-0.5pp $1,368	base $1,146	+0.5pp $919	+1.0pp $689

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$8,388
Total (2 units)			$8,387

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: $218,725
• Closing costs: $26,247
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-05-12
   status Pending
2. 2026-04-21
   price $874,900
3. 2026-04-09
   status Active
4. 2026-04-09
   status Pending
5. 2026-03-27
   listed $899,900 Active
6. 2006-05-02
   soldstatus $700,000
7. 2005-07-21
   listed $759,000 127-char remark

   Show marketing remark (127 chars)

   EVERYTHING RENOVATED IN and OUT, NEW STUCCO, ROOF, 3 NEW KITCHENS, 4 BATHS, SHEET ROCK, FLOORS.CALL CARAL FOR ALL APPOINTMENTS.

8. 2003-09-30
   soldstatus $221,000

ⓘ 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: $6,327 · $527/mo
• Projected year-2 tax: $10,557 · $880/mo
• Expected delta: +$4,229/yr (+$352/mo · 66.8%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 57% 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 72% 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: $100,644
• − Mortgage interest: −$49,008
• − Property taxes: −$6,327
• − Insurance: −$4,374
• − Repairs & maintenance: −$8,052
• − Management: −$8,052
• − Depreciation: −$25,452
• Taxable loss: −$620
• Est. tax savings @ 24.0%: +$149
• After-tax cash flow: $13,899/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): 78,558
• Household income: $59,661
• Rent vs Own: 65.2% rent · 34.8% own
• Severe rent burden: 7823.0

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: Predominantly White (67%)
• Race & ethnicity: White 67% Asian 15% Two or more races 9% Hispanic / Latino 9% Black 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3%
• Common ancestry: Scotch-Irish 15% Subsaharan African 12% Romanian 2%
• Foreign-born: 63% · China, Canada, Vietnam
• Languages at home: 24% English-only · Russian/Polish/Slavic 48% Chinese 7% Spanish 7%

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: ▼ -181.73%
• Current HPI: 303.6714
• Rent YoY: ▲ 5.04%
• 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

+295.9% since first listed

8 events — show timeline

• 2026-05-12 Pending — BNYMLS
• 2026-04-21 Price Changed $874,900 BNYMLS
• 2026-04-09 Relisted — BNYMLS
• 2026-04-09 Pending — BNYMLS
• 2026-03-27 Listed $899,900 BNYMLS
• 2006-05-02 Sold (Public Records) $700,000 Public Records
• 2005-07-21 Listed $759,000 BNYMLS
• 2003-09-30 Sold (Public Records) $221,000 Public Records

Property tax history

+5.1%/yr

Latest (2025): $6,327 · +3.4% YoY. Source: county tax records.