3514 12th Ave · New York, NY 11218

$2,199,000

28 bd · 20.0 ba · 3,200 sqft · MultiFamily · 90 Days on market

Built 1931 2,250 sqft lot ↓ 14% since listing

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Why this score? — see what drove the D- 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 +8.0/10.0
• ARV discount +7.5/15.0
• Cash flow +5.5/30.0
• Schools +5.0/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• 1% rule +1.1/10.0
• DSCR +0.0/10.0

Multi-family units

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

Listing remarks

EXTRA-LARGE(3200 SQFT-21x78 HOUSE SIZE) FULLY DETACHED 100% BRICK PHENOMENAL 4 FAMILY HOME(IN EXCELLENT CONDITION)+ FULL FINISHED BASEMENT WITH SEPARATE FRONT ENTRANCE + SHARED DRIVEWAY IDEALLY SITUATED IN A MOST DESIRABLE BORO-PARK/KENSINGTON LOCATION- SURROUNDED BY ALL TRANSPORTATION, SHOPPING, FINE SCHOOLS & HOUSES OF WORSHIP. .. THIS BEAUTIFULLY WELL-MAINTAINED FABULOUS 4 FAMILY PROPERTY WHICH CAN BE DELIVERED VACANT, IS PERFECT FOR ANY & ALL TYPES OF BUYERS(INVESTORS, END-USERS, BUILDERS & DEVELOPERS). .. YOU ABSOLUTLEY WILL NOT WANT TO MISS OUT ON THIS OUTSTANDING OPPORTUNITY TO OWN A PRIZED PIECE OF REAL ESTATE IN ONE OF BROOKLYN'S MOST DESIRABLE AND SOUGHT-AFTER NE

Key facts

• 2,250 sq ft lot
• Parking
• Built 1931

Property features AI

Finance

• Other: Four-unit multifamily (4 units total); Unit 1: 1-bedroom, 1-bath, 3 rooms — month-to-month tenancy; Unit 2: 2-bedroom, 1-bath, 4 rooms — month-to-month tenancy; Unit 3: 2-bedroom, 1-bath, 5 rooms — month-to-month tenancy; Unit 4: 2-bedroom, 1-bath, 5 rooms — month-to-month tenancy
• Financial info: Rental income reported: $8,800 (presumably monthly); Financing options considered: exchange, bank mortgage, cash; Utility expense noted

Exterior

• Parking: Shared driveway with 1 parking space
• Utilities: 220V electric; Gas for heating and hot water; Utilities recorded (expense listed separately)
• Home design: Detached building; Residential property; Flat roof; Poured concrete foundation; Brick construction; Building footprint approximately 78 x 21; Zoning: R5
• Construction: Brick exterior; Flat roof; Poured concrete foundation
• Exterior features: Back yard; Shared drive

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stove
• Bedrooms: Three bedrooms on level 1; Four bedrooms on level 2; Four separate residential units (unit counts provided below)
• Flooring: Hardwood floors; Ceramic floors; Tile floors
• Bathrooms: Five full bathrooms total (two on level 1, two on level 2); Each unit includes at least one full bathroom
• Heating & cooling: No central AC units listed; Heating by baseboard and steam/radiator; Gas hot water
• Interior features: Deck; Porch; Finished, full basement with separate entrance; Dishwasher; Microwave; Refrigerator; Stove; Other
• Laundry & utility: In-unit laundry area; Dryer

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/1.5-bath units multifamily listed at $2.20M.

Deal economics

• At list price, monthly cash flow is $-5k ($-56k/yr) — negative. Per door: $-1k/mo.
• To cash-flow at today's rent, offer at most $1.53M (30.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.34M (39.3% below list).
• Recommended offer: $1.34M (39.3% below list) — sets the bar for 1% rule.
• Cap rate 3.8% 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 (+5.3%/yr); 163 active listings in the ZIP; solid renter incomes; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $13,357/mo this rent would consume 165% of the median local household income ($97k/yr) (locally 4459% 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 $146k of equity ($15k loan paydown + $130k appreciation (5.9% 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 ~$233k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($2.07M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1931 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 62% 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 $1,335,700 (39.3% 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 90 days. Have you received any prior offers? Is the seller open to a 39% 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 1931 — 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: 0.61% ✗
• Cap rate: 3.76%
• Cash-on-cash: -9.05%
• DSCR: 0.60
• GRM: 13.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.93% appreciation · 5.35% rent growth · sell at horizon

5-year hold

• IRR: 8.6%
• Equity multiple: 1.59×
• Total profit: $362,419
• Equity at exit: $1,372,618

10-year hold

• IRR: 10.8%
• Equity multiple: 3.23×
• Total profit: $1,372,723
• Equity at exit: $2,480,790

Cash invested: $615,720 (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 11218

• Home prices YoY: 1.7%
• Rents YoY: 5.3%
• Active inventory: 163
• Price-to-rent: 54.9×

Monthly cashflow live

• Estimated rent: $13,357 medium
• Mortgage (P&I): −$11,532
• Tax est. 1.5%: −$2,749 /mo · $32,985/yr
• Insurance: −$916
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,805
• Net cashflow: $-4,645

Break-even live

Break-even rent $19,236

Max offer price $1,526,895

Occupancy floor —

Sensitivity live

Price	-10% $-3,125	-5% $-3,885	+0% $-4,645	+5% $-5,405	+10% $-6,164
Rent	-10% $-5,700	-5% $-5,172	+0% $-4,645	+5% $-4,117	+10% $-3,590
Rate	-1.0pp $-3,537	-0.5pp $-4,085	base $-4,645	+0.5pp $-5,215	+1.0pp $-5,794

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

Units	Beds	Baths	Est. rent
▸ 4× units	3	1.5	$13,356
Total (4 units)			$13,357

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: $549,750
• Closing costs: $65,970
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-18
   days on market $2,199,000 Active 90 DOM
2. 2026-06-17
   days on market $2,199,000 Active 89 DOM
3. 2026-06-15
   days on market $2,199,000 Active 87 DOM
4. 2026-06-13
   days on market $2,199,000 Active 85 DOM
5. 2026-06-10
   days on market $2,199,000 Active 81 DOM
6. 2026-06-08
   days on market $2,199,000 Active 80 DOM
7. 2026-06-08
   days on market $2,199,000 Active 79 DOM
8. 2026-06-04
   days on market $2,199,000 Active 76 DOM
9. 2026-06-03
   days on market $2,199,000 Active 75 DOM
10. 2026-06-01
    days on market $2,199,000 Active 73 DOM
11. 2026-05-31
    days on market $2,199,000 Active 72 DOM
12. 2026-03-20
    listed $2,199,000 Active
13. 2025-11-25
    price $2,550,000

ⓘ 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 6/10 Major 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 62% 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: $160,284
• − Mortgage interest: −$123,178
• − Property taxes: −$32,985
• − Insurance: −$10,995
• − Repairs & maintenance: −$12,823
• − Management: −$12,823
• − Depreciation: −$63,971
• Taxable loss: −$96,491
• Est. tax savings @ 24.0%: +$23,158
• After-tax cash flow: $-32,579/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): 72,042
• Household income: $97,366
• Rent vs Own: 61.0% rent · 39.0% own
• Severe rent burden: 4459.0

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 0.69)
• Race & ethnicity: White 49% Asian 18% Hispanic / Latino 17% Two or more races 11% Black 9%
• Hispanic origin (detail): Mexican 5% Puerto Rican 5% Dominican 1%
• Common ancestry: Romanian 4% Scotch-Irish 4% Italian 2%
• Foreign-born: 33% · Canada, China, Jamaica
• Languages at home: 50% English-only · Other Indo-European 13% Spanish 12% German/W. Germanic 9%

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: ▲ 5.93%
• Current HPI: 361.9653
• Rent YoY: ▲ 5.35%
• 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

-13.8% since first listed

2 events — show timeline

• 2026-03-20 Listed $2,199,000 BNYMLS
• 2025-11-25 Price Changed $2,550,000 BNYMLS