413 68th St · New York, NY 11220

$1,150,000

66 bd · 36.0 ba · 5,400 sqft · MultiFamily public records · 511 Days on market

Built 1915 2,293 sqft lot ↓ 23% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 (5+ Unit). Listing-text estimate: 6 units. confirmed

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 MLS

Bay Ridge All-Brick 6-family asset. Fully tenanted, the owner-occupied 2-bedroom will be delivered vacant. Upside potential offers the opportunity for growing returns; all current 2-year leases are set to expire on 9/30/25. The building is 20' x 90' on a 114 ft lot zoned R7B. Well-maintained, with 5,400 interior sq. ft. located in prime Northern Bay Ridge near shopping, dining, and multiple transportation options. Current RR is $123,421/yr, with total expenses of $38,584 (current CAP 6.3). Projected income upon new lease signing is $145,729, bringing CAP to 8%. 11 total bedrooms, 6 baths. Buyers are responsible for due diligence; apartments are rent-stabilized. Shown by appointment.

Key facts

• 2,293 sq ft lot
• Listed 511 days

Property features AI

Finance

• Other: Six-unit multi-family building; Unit occupancy and rent status: five units leased, one owner-occupied; Current and projected rents reported for individual units (varies by unit)
• Financial info: Financing available: bank mortgage or cash; Reported utility expense: $600 (presumably monthly)

Exterior

• Parking: Street parking
• Utilities: 110V electric service; Gas hot water; Gas heating fuel; Steam/radiator heat
• Home design: Attached building; Residential property; Building footprint approximately 90 x 20
• Construction: Brick exterior; Brick construction; Asphalt/tar roof; Poured concrete foundation; Building footprint ~1,800 (building footprint reported)
• Exterior features: Back yard; Zoning: R7B

Interior

• Kitchen: Refrigerator; Stove
• Bedrooms: Six units total: one 1-bedroom unit and five 2-bedroom units; Unit breakdown by floor: 1-bedroom on 1st floor; two-bedroom units on 1st, 2nd, and 3rd floors
• Flooring: Hardwood floors; Tile floors
• Bathrooms: Six full bathrooms (one per unit)
• Heating & cooling: Steam/radiator heat; Gas heating fuel; 110V electric; Gas hot water
• Interior features: Refrigerator; Stove; Cellar (unfinished); Hardwood floors; Tile floors; No central air units reported
• Laundry & utility: No dedicated washer/dryer listed

What this means for you Summary

Snapshot

• This is a 6 × 11-bed/6.0-bath units multifamily listed at $1.15M.

Deal economics

• At list price, monthly cash flow is $7k ($88k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($20k rent vs $1.15M).
• Recommended offer: $1.01M (12.0% below list) — sets the bar for market timing.
• Cap rate 13.9% 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.
• 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 $20,070/mo this rent would consume 345% 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 $73k of equity ($8k loan paydown + $65k 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 $322k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$116k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 511 days — a 12% lower offer ($1.01M) is reasonable based on typical stale-listing flexibility.
• 32 sale attempts since 12y ago; this cycle's ask has dropped $200k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 61% 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 $1,012,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 511 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. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.75% ✓
• Cap rate: 13.93%
• Cash-on-cash: 27.29%
• DSCR: 2.21
• GRM: 4.8

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: 41.5%
• Equity multiple: 3.73×
• Total profit: $880,197
• Equity at exit: $696,441

10-year hold

• IRR: 41.5%
• Equity multiple: 8.75×
• Total profit: $2,495,479
• Equity at exit: $1,240,702

Cash invested: $322,000 (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: 28.6×

Monthly cashflow live

• Estimated rent: $20,070 medium
• Mortgage (P&I): −$6,031
• Tax from tax record: −$2,023 /mo · $24,280/yr
• Insurance: −$479
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,215
• Net cashflow: $7,322

Break-even live

Break-even rent $10,802

Max offer price $1,150,000

Occupancy floor 59%

Sensitivity live

Price	-10% $7,973	-5% $7,648	+0% $7,322	+5% $6,997	+10% $6,671
Rent	-10% $5,737	-5% $6,529	+0% $7,322	+5% $8,115	+10% $8,908
Rate	-1.0pp $7,901	-0.5pp $7,615	base $7,322	+0.5pp $7,024	+1.0pp $6,721

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

Units	Beds	Baths	Est. rent
▸ 6× units	11	6	$20,070
Total (6 units)			$20,070

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: $287,500
• Closing costs: $34,500
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-18
   days on market $1,150,000 Active 511 DOM
2. 2026-06-17
   days on market $1,150,000 Active 510 DOM
3. 2026-06-15
   days on market $1,150,000 Active 508 DOM
4. 2026-06-13
   days on market $1,150,000 Active 506 DOM
5. 2026-06-10
   days on market $1,150,000 Active 502 DOM
6. 2026-06-08
   days on market $1,150,000 Active 501 DOM
7. 2026-06-03
   days on market $1,150,000 Active 496 DOM
8. 2026-06-01
   days on market $1,150,000 Active 494 DOM
9. 2026-05-31
   days on market $1,150,000 Active 493 DOM
10. 2026-04-03
    price $1,150,000 691-char remark

    Show marketing remark (691 chars)

    Bay Ridge All-Brick 6-family asset. Fully tenanted, the owner-occupied 2-bedroom will be delivered vacant. Upside potential offers the opportunity for growing returns; all current 2-year leases are set to expire on 9/30/25. The building is 20' x 90' on a 114 ft lot zoned R7B. Well-maintained, with 5,400 interior sq. ft. located in prime Northern Bay Ridge near shopping, dining, and multiple transportation options. Current RR is $123,421/yr, with total expenses of $38,584 (current CAP 6.3). Projected income upon new lease signing is $145,729, bringing CAP to 8%. 11 total bedrooms, 6 baths. Buyers are responsible for due diligence; apartments are rent-stabilized. Shown by appointment.

11. 2026-03-04
    price $1,150,000
12. 2025-05-06
    price $1,260,000

    Show marketing remark (691 chars)

    Bay Ridge All-Brick 6-family asset. Fully tenanted, the owner-occupied 2-bedroom will be delivered vacant. Upside potential offers the opportunity for growing returns; all current 2-year leases are set to expire on 9/30/25. The building is 20' x 90' on a 114 ft lot zoned R7B. Well-maintained, with 5,400 interior sq. ft. located in prime Northern Bay Ridge near shopping, dining, and multiple transportation options. Current RR is $123,421/yr, with total expenses of $38,584 (current CAP 6.3). Projected income upon new lease signing is $145,729, bringing CAP to 8%. 11 total bedrooms, 6 baths. Buyers are responsible for due diligence; apartments are rent-stabilized. Shown by appointment.

13. 2025-05-06
    price $1,260,000 691-char remark

    Show marketing remark (691 chars)

    Bay Ridge All-Brick 6-family asset. Fully tenanted, the owner-occupied 2-bedroom will be delivered vacant. Upside potential offers the opportunity for growing returns; all current 2-year leases are set to expire on 9/30/25. The building is 20' x 90' on a 114 ft lot zoned R7B. Well-maintained, with 5,400 interior sq. ft. located in prime Northern Bay Ridge near shopping, dining, and multiple transportation options. Current RR is $123,421/yr, with total expenses of $38,584 (current CAP 6.3). Projected income upon new lease signing is $145,729, bringing CAP to 8%. 11 total bedrooms, 6 baths. Buyers are responsible for due diligence; apartments are rent-stabilized. Shown by appointment.

14. 2025-01-23
    listed $1,350,000 Active 691-char remark

    Show marketing remark (691 chars)

    Bay Ridge All-Brick 6-family asset. Fully tenanted, the owner-occupied 2-bedroom will be delivered vacant. Upside potential offers the opportunity for growing returns; all current 2-year leases are set to expire on 9/30/25. The building is 20' x 90' on a 114 ft lot zoned R7B. Well-maintained, with 5,400 interior sq. ft. located in prime Northern Bay Ridge near shopping, dining, and multiple transportation options. Current RR is $123,421/yr, with total expenses of $38,584 (current CAP 6.3). Projected income upon new lease signing is $145,729, bringing CAP to 8%. 11 total bedrooms, 6 baths. Buyers are responsible for due diligence; apartments are rent-stabilized. Shown by appointment.

15. 2025-01-23
    listed $1,350,000 Active

    Show marketing remark (691 chars)

    Bay Ridge All-Brick 6-family asset. Fully tenanted, the owner-occupied 2-bedroom will be delivered vacant. Upside potential offers the opportunity for growing returns; all current 2-year leases are set to expire on 9/30/25. The building is 20' x 90' on a 114 ft lot zoned R7B. Well-maintained, with 5,400 interior sq. ft. located in prime Northern Bay Ridge near shopping, dining, and multiple transportation options. Current RR is $123,421/yr, with total expenses of $38,584 (current CAP 6.3). Projected income upon new lease signing is $145,729, bringing CAP to 8%. 11 total bedrooms, 6 baths. Buyers are responsible for due diligence; apartments are rent-stabilized. Shown by appointment.

16. 2024-12-15
    price $1,348,000
17. 2024-10-09
    price $1,349,000
18. 2024-08-25
    price $1,350,000
19. 2024-08-09
    price $1,375,000
20. 2024-07-31
    historical
21. 2024-04-29
    price $1,399,000
22. 2024-01-19
    listed $1,499,000 Active
23. 2024-01-15
    historical
24. 2023-08-07
    listed $1,550,000 Active
25. 2022-06-19
    price $1,600,000
26. 2019-12-01
    historical
27. 2019-04-19
    status Active
28. 2019-04-14
    historical Permanently Off Market
29. 2019-03-08
    status Active
30. 2019-02-03
    historical Permanently Off Market
31. 2019-01-11
    status Active
32. 2018-12-20
    price $1,800,000
33. 2018-12-20
    price $1,800,000
34. 2018-11-27
    listed $1,500,000 Active
35. 2018-11-27
    listed $1,800,000
36. 2018-03-29
    historical Permanently Off Market
37. 2018-03-14
    historical Permanently Off Market
38. 2018-03-14
    status Active
39. 2018-03-14
    historical Permanently Off Market
40. 2018-03-14
    status Active
41. 2018-03-14
    historical Permanently Off Market
42. 2018-03-14
    status Active
43. 2018-03-14
    historical Permanently Off Market
44. 2018-03-14
    status Active
45. 2018-03-13
    historical Permanently Off Market
46. 2018-03-13
    status Active
47. 2018-03-13
    historical Permanently Off Market
48. 2018-03-13
    status Active
49. 2018-03-13
    historical Permanently Off Market
50. 2018-03-13
    status 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: $24,280 · $2,023/mo
• Projected year-2 tax: $24,280 · $2,023/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥97°F today · 16 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: $240,840
• − Mortgage interest: −$64,418
• − Property taxes: −$24,280
• − Insurance: −$5,750
• − Repairs & maintenance: −$19,267
• − Management: −$19,267
• − Depreciation: −$33,455
• Taxable income: $74,403
• Est. tax owed @ 24.0%: −$17,857
• After-tax cash flow: $70,008/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

-23.3% since first listed

74 events — show timeline

• 2026-04-03 Price Changed $1,150,000 RLS at REBNY
• 2026-03-04 Price Changed $1,150,000 BNYMLS
• 2025-05-06 Price Changed $1,260,000 BNYMLS
• 2025-05-06 Price Changed $1,260,000 RLS at REBNY
• 2025-01-23 Listed $1,350,000 RLS at REBNY
• 2025-01-23 Listed $1,350,000 BNYMLS
• 2024-12-15 Price Changed $1,348,000 BNYMLS
• 2024-10-09 Price Changed $1,349,000 BNYMLS
• 2024-08-25 Price Changed $1,350,000 BNYMLS
• 2024-08-09 Price Changed $1,375,000 BNYMLS
• 2024-07-31 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-04-29 Price Changed $1,399,000 OneKey® MLS as Distributed by MLS Grid
• 2024-01-19 Listed $1,499,000 OneKey® MLS as Distributed by MLS Grid
• 2024-01-15 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2023-08-07 Listed $1,550,000 OneKey® MLS as Distributed by MLS Grid
• 2022-06-19 Price Changed $1,600,000 BNYMLS
• 2019-12-01 Listing Removed — SIBORMLS
• 2019-04-19 Relisted — RLS at REBNY
• 2019-04-14 Delisted — RLS at REBNY
• 2019-03-08 Relisted — RLS at REBNY
• 2019-02-03 Delisted — RLS at REBNY
• 2019-01-11 Relisted — RLS at REBNY
• 2018-12-20 Price Changed $1,800,000 BNYMLS
• 2018-12-20 Price Changed $1,800,000 SIBORMLS
• 2018-11-27 Listed $1,800,000 RLS at REBNY
• 2018-11-27 Listed $1,500,000 SIBORMLS
• 2018-03-29 Delisted — RLS at REBNY
• 2018-03-14 Delisted — RLS at REBNY
• 2018-03-14 Relisted — RLS at REBNY
• 2018-03-14 Delisted — RLS at REBNY
• 2018-03-14 Relisted — RLS at REBNY
• 2018-03-14 Delisted — RLS at REBNY
• 2018-03-14 Relisted — RLS at REBNY
• 2018-03-14 Delisted — RLS at REBNY
• 2018-03-14 Relisted — RLS at REBNY
• 2018-03-13 Delisted — RLS at REBNY
• 2018-03-13 Relisted — RLS at REBNY
• 2018-03-13 Delisted — RLS at REBNY
• 2018-03-13 Relisted — RLS at REBNY
• 2018-03-13 Delisted — RLS at REBNY
• 2018-03-13 Relisted — RLS at REBNY
• 2018-03-13 Delisted — RLS at REBNY
• 2018-03-13 Relisted — RLS at REBNY
• 2018-03-13 Delisted — RLS at REBNY
• 2018-03-13 Relisted — RLS at REBNY
• 2018-03-13 Delisted — RLS at REBNY
• 2018-03-13 Relisted — RLS at REBNY
• 2018-03-13 Delisted — RLS at REBNY
• 2018-03-13 Relisted — RLS at REBNY
• 2018-03-13 Delisted — RLS at REBNY
• 2018-03-13 Relisted — RLS at REBNY
• 2018-03-13 Delisted — RLS at REBNY
• 2018-03-13 Relisted — RLS at REBNY
• 2018-03-13 Delisted — RLS at REBNY
• 2018-03-13 Relisted — RLS at REBNY
• 2018-03-13 Delisted — RLS at REBNY
• 2018-03-01 Listing Removed — SIBORMLS
• 2017-12-03 Price Changed $1,800,000 RLS at REBNY
• 2017-11-30 Price Changed $1,800,000 BNYMLS
• 2017-11-30 Price Changed $1,800,000 SIBORMLS
• 2017-11-17 Relisted — RLS at REBNY
• 2017-11-16 Delisted — RLS at REBNY
• 2017-11-15 Relisted — RLS at REBNY
• 2017-11-02 Delisted — RLS at REBNY
• 2017-09-06 Relisted — RLS at REBNY
• 2017-08-29 Listed $1,500,000 SIBORMLS
• 2016-04-15 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2016-04-15 Listing Removed — SIBORMLS
• 2015-04-22 Listed $1,500,000 SIBORMLS
• 2014-12-01 Listing Removed — SIBORMLS
• 2014-06-12 Listed $1,500,000 RLS at REBNY
• 2014-06-12 Listed $1,500,000 RLS at REBNY
• 2014-06-10 Listed $1,500,000 OneKey® MLS as Distributed by MLS Grid
• 2014-06-10 Listed $1,500,000 RLS at REBNY

Property tax history

+5.1%/yr

Latest (2025): $24,280 · +2.2% YoY. Source: county tax records.