111 Schenectady Ave · New York, NY 11213

$895,000

12 bd · 9.0 ba · 2,100 sqft · MultiFamily public records · 23 Days on market

Built 1920 2,300 sqft lot ↓ 12% since listing

---

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 +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +6.0/30.0
• Schools +5.0/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• 1% rule +1.3/10.0
• DSCR +0.4/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Priced to sell! Fully detached 3-family property in Crown Heights on a 23x100 lot with R6 zoning. Ideal for end users, rental income, or development potential. Features a full basement and spacious rear yard. Contact listing broker for more details.

Key facts

• 3-family property
• Fully detached
• R6 zoning

Tags

• FULLY DETACHED
• 3-FAMILY PROPERTY
• FULL BASEMENT
• SPACIOUS REAR YARD
• R6 ZONING
• DEVELOPMENT POTENTIAL

What this means for you Summary

Snapshot

• This is a 3 × 4-bed/3.0-bath units multifamily listed at $895k.

Deal economics

• At list price, monthly cash flow is $-2k ($-21k/yr) — negative. Per door: $-570/mo.
• To cash-flow at today's rent, offer at most $648k (27.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $566k (36.7% below list).
• Recommended offer: $566k (36.7% below list) — sets the bar for 1% rule.
• Cap rate 4.0% 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 (+6.0%/yr); 73 active listings in the ZIP; 10,063 units permitted in Kings County in 2024 (9,789 in 5+ unit buildings).
• At $5,665/mo this rent would consume 104% of the median local household income ($65k/yr) (locally 6603% 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 $96k of equity ($6k loan paydown + $90k appreciation (10.0% 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 ~$154k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($882k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $566,500 (36.7% 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. 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 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
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: 0.63% ✗
• Cap rate: 4.00%
• Cash-on-cash: -8.19%
• DSCR: 0.64
• GRM: 13.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 5.95% rent growth · sell at horizon

5-year hold

• IRR: 19.3%
• Equity multiple: 2.58×
• Total profit: $395,939
• Equity at exit: $806,287

10-year hold

• IRR: 18.3%
• Equity multiple: 6.15×
• Total profit: $1,291,350
• Equity at exit: $1,738,788

Cash invested: $250,600 (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 11213

• Home prices YoY: 4.3%
• Rents YoY: 6.0%
• Active inventory: 73
• Price-to-rent: 39.5×

Monthly cashflow live

• Estimated rent: $5,665 high
• Mortgage (P&I): −$4,693
• Tax est. 1.5%: −$1,119 /mo · $13,425/yr
• Insurance: −$373
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,190
• Net cashflow: $-1,710

Break-even live

Break-even rent $7,829

Max offer price $647,590

Occupancy floor —

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

Units	Beds	Baths	Est. rent
▸ 3× units	4	3	$5,664
Total (3 units)			$5,665

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: $223,750
• Closing costs: $26,850
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $895,000 Active 23 DOM
2. 2026-06-17
   days on market $895,000 Active 22 DOM
3. 2026-06-16
   days on market $895,000 Active 21 DOM
4. 2026-06-15
   days on market $895,000 Active 20 DOM
5. 2026-06-13
   days on market $895,000 Active 18 DOM
6. 2026-06-10
   days on market $895,000 Active 14 DOM
7. 2026-06-08
   days on market $895,000 Active 13 DOM
8. 2026-06-08
   days on market $895,000 Active 12 DOM
9. 2026-06-04
   days on market $895,000 Active 9 DOM
10. 2026-06-03
    days on market $895,000 Active 8 DOM
11. 2026-06-02
    days on market $895,000 Active 7 DOM
12. 2026-06-01
    days on market $895,000 Active 6 DOM
13. 2026-05-31
    days on market $895,000 Active 5 DOM
14. 2026-05-21
    price $875,000
15. 2025-04-16
    price $999,000

ⓘ 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 7/10 Severe 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $67,980
• − Mortgage interest: −$50,134
• − Property taxes: −$13,425
• − Insurance: −$4,475
• − Repairs & maintenance: −$5,438
• − Management: −$5,438
• − Depreciation: −$26,036
• Taxable loss: −$36,967
• Est. tax savings @ 24.0%: +$8,872
• After-tax cash flow: $-11,645/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): 68,846
• Household income: $65,127
• Rent vs Own: 83.2% rent · 16.8% own
• Severe rent burden: 6603.0

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 0.61)
• Race & ethnicity: Black 56% White 23% Hispanic / Latino 13% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Dominican 4%
• Common ancestry: Hispanic 5% Scotch-Irish 2% Romanian 1%
• Foreign-born: 32% · Canada, Mexico, China
• Languages at home: 76% English-only · Spanish 9% French/Haitian/Cajun 6% German/W. Germanic 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: ▲ 23.71%
• Current HPI: 577.3841
• Rent YoY: ▲ 5.95%
• 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

-12.4% since first listed

2 events — show timeline

• 2026-05-21 Price Changed $875,000 BNYMLS
• 2025-04-16 Price Changed $999,000 BNYMLS

Property tax history

+5.6%/yr

Latest (2025): $1,697 · -1.5% YoY. Source: county tax records.