369 E 32nd St #6 · New York, NY 11226

$1,295,000

None bd · None ba · 3,120 sqft · MultiFamily public records · 110 Days on market

Built 1935 2,870 sqft lot Est $1139k · 14% over

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Why this score? — see what drove the F 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 +6.4/10.0
• Cash flow +5.9/30.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.3/15.0
• 1% rule +1.0/10.0
• DSCR +0.3/10.0

Multi-family units

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

Listing remarks

EAST FLATBUSH 4-FAMILY GEM! Incredible 3,120 sq. ft. multi-family brick townhouse located just two blocks from the 2 & 5 trains at Newkirk Avenue. This high-yield asset features a prime unit mix of one (1) massive 3-bedroom apartment and three (3) spacious 2-bedroom apartments, all with functional layouts and excellent natural light. Solid brick construction with a full-height basement offering additional storage or recreation potential. Tenants are currently in place, providing immediate cash flow in a high-demand rental corridor near Brooklyn College and Target. Perfectly positioned for investors seeking a resilient income-producer or a 1031 exchange. Sold as-is. Act fast—mult

Key facts

• Immediate cash flow
• Prime unit mix
• Full-height basement

Tags

• MULTI-FAMILY BRICK TOWNHOUSE
• FULL-HEIGHT BASEMENT
• HIGH-DEMAND RENTAL CORRIDOR
• IMMEDIATE CASH FLOW
• PRIME UNIT MIX

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public sewer; Electricity available
• Home design: Quadruplex
• Construction: Brick construction
• Exterior features: Brick exterior; Not waterfront

Interior

• Heating & cooling: Wall/Window unit(s) for cooling; Natural gas heating; Other heating
• Interior features: Unfinished basement; Other interior features

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/?-bath units multifamily listed at $1.29M.

Deal economics

• At list price, monthly cash flow is $-3k ($-30k/yr) — negative. Per door: $-634/mo.
• To cash-flow at today's rent, offer at most $847k (34.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $779k (39.8% below list).
• Recommended offer: $779k (39.8% below list) — sets the bar for 1% rule.
• Cap rate 3.9% 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: Elm Tree Elementary School (math 27% / reading 52%, grade F, #1,444 of 2,108 statewide, top 71%, 806 students, 94% FRL); Jhs 383 Philippa Schuyler (math 32% / reading 67%, grade C, #280 of 729 statewide, top 40%, 822 students, 85% 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 (+4.0%/yr); 153 active listings in the ZIP; solid renter incomes; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $7,794/mo this rent would consume 115% of the median local household income ($81k/yr) (locally 8485% 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 $46k of equity ($9k loan paydown + $37k appreciation (2.9% 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 ~$75k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 110 days — a 9% lower offer ($1.18M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1935 — 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 $779,400 (39.8% 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 110 days. Have you received any prior offers? Is the seller open to a 40% 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 1935 — 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: 0.60% ✗
• Cap rate: 3.94%
• Cash-on-cash: -8.39%
• DSCR: 0.63
• GRM: 13.8

CMA / ARV

• ARV (on-the-fly): $1,138,800
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
204 E 31 St	0.30mi	5/2.0	3,216 (+3%)	3mo	$970,000	$302	78
386 E 31 St	0.08mi	8/3.0	3,135 (+0%)	21mo	$1,195,000	$381	78
985 Rogers Ave	0.42mi	8/3.0	3,180 (+2%)	6mo	$1,150,000	$362	73
664 E 42nd St	0.53mi	6/3.0	3,128 (+0%)	4mo	$955,000	$305	72
1232 Flatbush Ave	0.49mi	4/2.0	2,970 (-5%)	6mo	$1,275,000	$429	64
2723 Tilden Ave	0.45mi	7/5.0	3,303 (+6%)	8mo	$1,400,000	$424	62
267 Martense St	0.73mi	8/3.0	3,150 (+1%)	9mo	$1,150,000	$365	56

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.87% appreciation · 4.0% rent growth · sell at horizon

5-year hold

• IRR: -0.3%
• Equity multiple: 0.98×
• Total profit: $-6,239
• Equity at exit: $573,106

10-year hold

• IRR: 4.1%
• Equity multiple: 1.63×
• Total profit: $226,902
• Equity at exit: $876,152

Cash invested: $362,600 (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 11226

• Home prices YoY: 0.9%
• Rents YoY: 4.0%
• Active inventory: 153
• Price-to-rent: 55.4×

Monthly cashflow live

• Estimated rent: $7,794 medium
• Mortgage (P&I): −$6,791
• Tax from tax record: −$1,362 /mo · $16,345/yr
• Insurance: −$540
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,637
• Net cashflow: $-2,536

Break-even live

Break-even rent $11,004

Max offer price $847,086

Occupancy floor —

Sensitivity live

Price	-10% $-1,802	-5% $-2,169	+0% $-2,536	+5% $-2,902	+10% $-3,269
Rent	-10% $-3,151	-5% $-2,843	+0% $-2,536	+5% $-2,228	+10% $-1,920
Rate	-1.0pp $-1,883	-0.5pp $-2,206	base $-2,536	+0.5pp $-2,871	+1.0pp $-3,212

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	—	$7,792
Total (4 units)			$7,794

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: $323,750
• Closing costs: $38,850
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-21
   days on market $1,295,000 Active 110 DOM
2. 2026-06-18
   days on market $1,295,000 Active 107 DOM
3. 2026-06-17
   days on market $1,295,000 Active 106 DOM
4. 2026-06-15
   days on market $1,295,000 Active 104 DOM
5. 2026-06-13
   days on market $1,295,000 Active 102 DOM
6. 2026-06-10
   days on market $1,295,000 Active 98 DOM
7. 2026-06-08
   days on market $1,295,000 Active 97 DOM
8. 2026-06-08
   days on market $1,295,000 Active 96 DOM
9. 2026-06-04
   days on market $1,295,000 Active 93 DOM
10. 2026-06-03
    days on market $1,295,000 Active 92 DOM
11. 2026-06-01
    days on market $1,295,000 Active 90 DOM
12. 2026-05-31
    days on market $1,295,000 Active 89 DOM
13. 2026-03-01
    listed $1,295,000 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: $16,345 · $1,362/mo
• Projected year-2 tax: $19,115 · $1,593/mo
• Expected delta: +$2,770/yr (+$231/mo · 16.9%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 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 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $93,528
• − Mortgage interest: −$72,540
• − Property taxes: −$16,345
• − Insurance: −$6,475
• − Repairs & maintenance: −$7,482
• − Management: −$7,482
• − Depreciation: −$37,673
• Taxable loss: −$54,470
• Est. tax savings @ 24.0%: +$13,073
• After-tax cash flow: $-17,354/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): 95,144
• Household income: $81,014
• Rent vs Own: 86.0% rent · 14.0% own
• Severe rent burden: 8485.0

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 0.60)
• Race & ethnicity: Black 59% Hispanic / Latino 16% White 14% Two or more races 9% Asian 4% Native American 1%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3% Dominican 2%
• Common ancestry: Hispanic 12% Romanian 1% Italian 1%
• Foreign-born: 43% · Canada, China, Mexico
• Languages at home: 65% English-only · French/Haitian/Cajun 14% Spanish 13% Other Indo-European 2%

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: ▲ 2.87%
• Current HPI: 331.4138
• Rent YoY: ▲ 4.00%
• 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

• 2026-03-01 Listed $1,295,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+5.5%/yr

Latest (2025): $16,345 · +6.9% YoY. Source: county tax records.