657 E 102nd St · New York, NY 11236

$998,000

8 bd · 7.0 ba · 2,140 sqft · MultiFamily public records · 151 Days on market

Built 1999 2,058 sqft lot Est $897k · 11% over

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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).

• Cash flow +12.8/30.0
• Schools +5.0/10.0
• DSCR +3.8/10.0
• Livability +3.8/5.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +2.4/15.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

Discover exceptional space, character, and convenience at 657 East 102nd Street, a well-maintained two-family attached brick townhouse offering approximately 2,140 sq ft of living space plus a full walk-in basement. Located near multiple public transportation options, L train just 3 blocks away B6, B82 all close to the house. This property is ideal for both end-users and investors seeking a spacious and flexible layout. The first-floor unit features approximately 946 sq ft with 3 bedrooms and 2 full bathrooms, the primary bedroom with private en-suite bath. The living room and dining area offer generous space and natural light, and the kitchen includes well-kept cabinetry. This unit also of

Key facts

• 2,058 sq ft lot
• Garage
• Built 1999

Property features AI

Exterior

• Parking: Private garage; 1 garage space; 2 parking spaces total
• Utilities: Public sewer; Electricity available; See remarks for additional utilities
• Home design: Duplex
• Construction: Brick construction
• Exterior features: Brick construction; Not waterfront

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: One 4-bedroom unit
• Bathrooms: Five full bathrooms
• Heating & cooling: Natural gas heating; Other heating; Separate meters for utilities
• Interior features: Eat-in kitchen; High ceilings; In-law floorplan; Primary bathroom; Washer/dryer hookup; Basement (see remarks)
• Laundry & utility: Washer/dryer hookup; Separate meters

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/3.5-bath units multifamily listed at $998k.

Deal economics

• At list price, monthly cash flow is $-93 ($-1k/yr) — negative. Per door: $-46/mo.
• To cash-flow at today's rent, offer at most $982k (1.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $790k (20.8% below list).
• Recommended offer: $790k (20.8% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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: 229 active listings in the ZIP; solid renter incomes; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $7,904/mo this rent would consume 116% of the median local household income ($81k/yr) (locally 4225% 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 $7k of loan paydown is wiped out by about $30k 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 151 days — a 12% lower offer ($878k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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 $845k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; major wind risk, 66% 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 $790,400 (20.8% 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 151 days. Have you received any prior offers? Is the seller open to a 21% 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. 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. 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?
10. 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.
11. 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.
12. 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: 0.79% ✗
• Cap rate: 6.18%
• Cash-on-cash: -0.40%
• DSCR: 0.98
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $896,660
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9015 Bayview Pl	0.59mi	7/2.0 (-1)	2,208 (+3%)	5mo	$925,000	$419	43

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -17.0%
• Equity multiple: 0.40×
• Total profit: $-167,841
• Equity at exit: $148,805

10-year hold

• IRR: -8.9%
• Equity multiple: 0.45×
• Total profit: $-154,660
• Equity at exit: $86,289

Cash invested: $279,440 (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 11236

• Active inventory: 229
• Price-to-rent: 21.0×

Monthly cashflow live

• Estimated rent: $7,904 medium
• Mortgage (P&I): −$5,234
• Tax from tax record: −$687 /mo · $8,248/yr
• Insurance: −$416
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,660
• Net cashflow: $-93

Break-even live

Break-even rent $8,021

Max offer price $981,644

Occupancy floor 96%

Sensitivity live

Price	-10% $472	-5% $190	+0% $-93	+5% $-375	+10% $-658
Rent	-10% $-717	-5% $-405	+0% $-93	+5% $220	+10% $532
Rate	-1.0pp $410	-0.5pp $161	base $-93	+0.5pp $-351	+1.0pp $-614

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	3.5	$7,904
Total (2 units)			$7,904

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: $249,500
• Closing costs: $29,940
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-05-07
   status Pending
2. 2026-02-05
   price $998,000
3. 2025-12-08
   listed $999,000 Active
4. 2025-12-04
   historical $999,000
5. 2025-09-24
   historical
6. 2025-01-23
   listed $1,050,000 Active
7. 2024-12-04
   historical
8. 2024-07-23
   price $1,050,000
9. 2024-06-04
   listed $1,150,000 Active
10. 2023-04-03
    soldstatus $845,000

ⓘ 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: $8,248 · $687/mo
• Projected year-2 tax: $12,557 · $1,046/mo
• Expected delta: +$4,309/yr (+$359/mo · 52.3%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% 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 66% 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: $94,848
• − Mortgage interest: −$55,904
• − Property taxes: −$8,248
• − Insurance: −$4,990
• − Repairs & maintenance: −$7,588
• − Management: −$7,588
• − Depreciation: −$29,033
• Taxable loss: −$18,501
• Est. tax savings @ 24.0%: +$4,440
• After-tax cash flow: $3,329/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): 88,051
• Household income: $81,464
• Rent vs Own: 48.4% rent · 51.6% own
• Severe rent burden: 4225.0

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 Black (79%)
• Race & ethnicity: Black 79% Hispanic / Latino 8% Two or more races 8% White 4% Asian 2%
• Hispanic origin (detail): Puerto Rican 3% Dominican 2%
• Common ancestry: Hispanic 14%
• Foreign-born: 45% · Canada, Mexico, China
• Languages at home: 74% English-only · French/Haitian/Cajun 14% Spanish 6% Chinese 1%

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: ▼ -375.21%
• Current HPI: 330.8367
• Rent YoY: —
• 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

+18.1% since first listed

10 events — show timeline

• 2026-05-07 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-02-05 Price Changed $998,000 OneKey® MLS as Distributed by MLS Grid
• 2025-12-08 Listed $999,000 OneKey® MLS as Distributed by MLS Grid
• 2025-12-04 Coming Soon $999,000 OneKey® MLS as Distributed by MLS Grid
• 2025-09-24 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2025-01-23 Listed $1,050,000 OneKey® MLS as Distributed by MLS Grid
• 2024-12-04 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2024-07-23 Price Changed $1,050,000 OneKey® MLS as Distributed by MLS Grid
• 2024-06-04 Listed $1,150,000 OneKey® MLS as Distributed by MLS Grid
• 2023-04-03 Sold (Public Records) $845,000 Public Records

Property tax history

+3.9%/yr

Latest (2025): $8,248 · +3.3% YoY. Source: county tax records.