765 E 9th St · New York, NY 11230

$1,299,000

12 bd · 7.2 ba · 5,000 sqft · MultiFamily public records · 213 Days on market

Built 1925 2,667 sqft lot ↓ 13% since listing

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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 +25.3/30.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Schools +5.0/10.0
• Rent growth +4.0/5.0
• 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 (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

Welcome to 765 East 9th Street — a rare, long-held 6-family building in the heart of Midwood, Brooklyn. Owned by the same family for nearly 60 years, this exceptionally well-maintained property offers tremendous versatility, strong income, and the opportunity to add significant value. Currently used as a 5-family, the building can easily be converted back to its original 6-family layout, making it ideal for both investors and end-users. The first-floor features a large combined owner’s apartment, created from two units and never rent stabilized—allowing the future owner to establish first rent if reconfigured. This expansive residence offers 8 well-proportioned rooms, incl

Key facts

• Owner's apartment
• Laundry room
• Boiler utility room

Tags

• OWNER'S APARTMENT
• FULL SEMI-FINISHED BASEMENT
• LAUNDRY ROOM
• BOILER UTILITY ROOM
• DIRECT ACCESS TO REAR YARD
• QUIET RESIDENTIAL BLOCK

Property features AI

Finance

• Other: Zoning: R7A
• Financial info: Rent income reported; Financing options considered: exchange, bank mortgage, cash

Exterior

• Parking: No designated parking
• Utilities: 110V electric; Hot water via coil in boiler; Oil fuel for heating; Steam/radiator heat delivery
• Home design: Semi-detached building; Residential property
• Construction: Brick exterior; Flat roof; Block foundation; Building footprint approximately 1,760; Building dimensions about 80 x 22
• Exterior features: Back yard

Interior

• Kitchen: Refrigerator; Stove
• Bedrooms: Five units total: one 4+ bedroom unit (owner occupied) and four 2-bedroom units (leased)
• Flooring: Carpeting; Hardwood floors; Linoleum floors
• Bathrooms: Six full bathrooms and one 3/4 bathroom total in the building
• Heating & cooling: Oil-fired heating with steam/radiator delivery; No central AC units reported
• Interior features: Dryer; Refrigerator; Stove; Washer; Full and semi-finished basement
• Laundry & utility: Washer, Dryer

What this means for you Summary

Snapshot

• This is a 6 × 2-bed/1.2-bath units multifamily listed at $1.30M.

Deal economics

• At list price, monthly cash flow is $3k ($35k/yr) — positive. Per door: $491/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($16k rent vs $1.30M).
• Recommended offer: $1.14M (12.0% below list) — sets the bar for market timing.
• Cap rate 9.0% 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 (+6.2%/yr); 210 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $15,510/mo this rent would consume 266% of the median local household income ($70k/yr) (locally 6887% 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 $9k of loan paydown is wiped out by about $39k 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 + 6.2% rent growth), your $364k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 213 days — a 12% lower offer ($1.14M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 64% 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 $1,143,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 213 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 1925 — 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: 1.19% ✓
• Cap rate: 9.02%
• Cash-on-cash: 9.72%
• DSCR: 1.43
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.17% rent growth · sell at horizon

5-year hold

• IRR: 2.0%
• Equity multiple: 1.08×
• Total profit: $28,708
• Equity at exit: $193,685

10-year hold

• IRR: 14.6%
• Equity multiple: 2.35×
• Total profit: $492,041
• Equity at exit: $112,314

Cash invested: $363,720 (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 11230

• Rents YoY: 6.2%
• Active inventory: 210
• Price-to-rent: 41.9×

Monthly cashflow live

• Estimated rent: $15,510 medium
• Mortgage (P&I): −$6,812
• Tax from tax record: −$1,952 /mo · $23,425/yr
• Insurance: −$541
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,257
• Net cashflow: $2,947

Break-even live

Break-even rent $11,779

Max offer price $1,299,000

Occupancy floor 76%

Sensitivity live

Price	-10% $3,683	-5% $3,315	+0% $2,947	+5% $2,580	+10% $2,212
Rent	-10% $1,722	-5% $2,335	+0% $2,947	+5% $3,560	+10% $4,173
Rate	-1.0pp $3,602	-0.5pp $3,278	base $2,947	+0.5pp $2,611	+1.0pp $2,268

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

Units	Beds	Baths	Est. rent
▸ 6× units	2	1.2	$15,510
Total (6 units)			$15,510

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: $324,750
• Closing costs: $38,970
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-18
   days on market $1,299,000 Active 213 DOM
2. 2026-06-17
   days on market $1,299,000 Active 212 DOM
3. 2026-06-15
   days on market $1,299,000 Active 210 DOM
4. 2026-06-13
   days on market $1,299,000 Active 208 DOM
5. 2026-06-10
   days on market $1,299,000 Active 204 DOM
6. 2026-06-08
   days on market $1,299,000 Active 203 DOM
7. 2026-06-04
   days on market $1,299,000 Active 199 DOM
8. 2026-06-03
   days on market $1,299,000 Active 198 DOM
9. 2026-06-01
   days on market $1,299,000 Active 196 DOM
10. 2026-05-31
    days on market $1,299,000 Active 195 DOM
11. 2026-04-09
    price $1,299,000
12. 2025-11-17
    listed $1,499,000 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: $23,425 · $1,952/mo
• Projected year-2 tax: $23,425 · $1,952/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 64% 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: $186,120
• − Mortgage interest: −$72,764
• − Property taxes: −$23,425
• − Insurance: −$6,495
• − Repairs & maintenance: −$14,890
• − Management: −$14,890
• − Depreciation: −$37,789
• Taxable income: $15,868
• Est. tax owed @ 24.0%: −$3,808
• After-tax cash flow: $31,562/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): 86,978
• Household income: $70,027
• Rent vs Own: 71.6% rent · 28.4% own
• Severe rent burden: 6887.0

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 0.62)
• Race & ethnicity: White 57% Asian 17% Hispanic / Latino 13% Black 8% Two or more races 6%
• Hispanic origin (detail): Mexican 4% Puerto Rican 3% Dominican 1%
• Common ancestry: Scotch-Irish 5% Subsaharan African 4% Romanian 2%
• Foreign-born: 41% · Canada, China, Jamaica
• Languages at home: 45% English-only · Russian/Polish/Slavic 16% Other Indo-European 10% Spanish 10%

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: ▼ -606.25%
• Current HPI: 314.7697
• Rent YoY: ▲ 6.17%
• 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

-13.3% since first listed

2 events — show timeline

• 2026-04-09 Price Changed $1,299,000 BNYMLS
• 2025-11-17 Listed $1,499,000 BNYMLS

Property tax history

+5.8%/yr

Latest (2025): $23,425 · +6.8% YoY. Source: county tax records.