380 Pulaski Ave · New York, NY 10303

$600,000

4 bd · 4.0 ba · 2,376 sqft · MultiFamily public records · 14 Days on market

Built 1930 4,580 sqft lot Est $1079k · 44% under

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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 +20.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.5/10.0
• Schools +5.0/10.0
• 1% rule +4.8/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 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

Investor & Handyman Special in Elm Park! Detached 2-Family with Private Driveway! Great opportunity for investors, contractors, or anyone looking for a project with big potential! This large, fully detached 2-family home sits on an oversized lot that's 129 feet deep, 37 feet wide in the front, and 46 feet wide in the back. The house itself is 22X54 and offers plenty of space to work with. Currently set up as a 6-room over 5-room layout with a full basement. There's also a huge stand-up attic that runs the full length of the house, with a staircase that goes all the way from the attic down to the basement—tons of space to redesign or expand! The property is equipped with a

Key facts

• Huge stand-up attic
• Private driveway
• Full basement

Tags

• PRIVATE DRIVEWAY
• OVERSIZED LOT
• FULL BASEMENT
• HUGE STAND-UP ATTIC
• QUIET RESIDENTIAL STREET

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/2.0-bath units multifamily listed at $600k.

Deal economics

• At list price, monthly cash flow is $799 ($10k/yr) — positive. Per door: $400/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $586k (2.4% below list).
• Recommended offer: $586k (2.4% below list) — sets the bar for 1% rule.
• Cap rate 7.9% 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.
• Market conditions: 108 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 480 units permitted in Richmond County in 2024 (22 in 5+ unit buildings).
• At $5,858/mo this rent would consume 84% of the median local household income ($84k/yr) (locally 1198% 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 $4k of loan paydown is wiped out by about $18k of value loss. Plan a longer hold.
• Richmond County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1930 — 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 $585,800 (2.4% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.98% ✗
• Cap rate: 7.89%
• Cash-on-cash: 5.71%
• DSCR: 1.25
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $1,078,704
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
35 Jaffe St	0.62mi	4/3.5	2,268 (-4%)	4mo	$1,030,000	$454	58
90 Levit Ave	0.62mi	4/4.0	2,184 (-8%)	4mo	$1,075,000	$492	55
12 Trantor Pl	0.44mi	3/2.0 (-1)	2,132 (-10%)	12mo	$430,000	$202	39
84 Dehart Ave	0.59mi	3/1.0 (-1)	2,470 (+4%)	13mo	$600,000	$243	38

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: -7.5%
• Equity multiple: 0.72×
• Total profit: $-46,438
• Equity at exit: $89,462

10-year hold

• IRR: 2.1%
• Equity multiple: 1.15×
• Total profit: $24,663
• Equity at exit: $51,877

Cash invested: $168,000 (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 10303

• Home prices YoY: -24.8%
• Active inventory: 108
• Price-to-rent: 17.1×

Monthly cashflow live

• Estimated rent: $5,858 high
• Mortgage (P&I): −$3,146
• Tax from tax record: −$432 /mo · $5,187/yr
• Insurance: −$250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,230
• Net cashflow: $799

Break-even live

Break-even rent $4,846

Max offer price $600,000

Occupancy floor 81%

Sensitivity live

Price	-10% $1,139	-5% $969	+0% $799	+5% $629	+10% $459
Rent	-10% $336	-5% $568	+0% $799	+5% $1,030	+10% $1,262
Rate	-1.0pp $1,101	-0.5pp $952	base $799	+0.5pp $644	+1.0pp $485

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$5,858
Total (2 units)			$5,858

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: $150,000
• Closing costs: $18,000
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
147 Vedder Ave Unit 1 Staten Island, NY	3.0	3.0	2188	$3,800	$1.74	25d	1	0.59mi
110 Spartan Ave Unit 2 Staten Island, NY	3.0	1.5	2400	$3,500	$1.46	25d	1	0.91mi
581 W Caswell Ave Unit 2 Staten Island, NY	3.0	2.0	2292	$3,200	$1.40	16d	1	0.95mi

Listing history 4 events

1. 2025-11-12
   status Pending
2. 2025-11-12
   status Active
3. 2025-11-01
   historical Contingent
4. 2025-10-29
   listed $600,000 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: $5,187 · $432/mo
• Projected year-2 tax: $7,664 · $639/mo
• Expected delta: +$2,476/yr (+$206/mo · 47.7%)

ⓘ 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 ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $70,296
• − Mortgage interest: −$33,609
• − Property taxes: −$5,187
• − Insurance: −$3,000
• − Repairs & maintenance: −$5,624
• − Management: −$5,624
• − Depreciation: −$17,455
• Taxable loss: −$202
• Est. tax savings @ 24.0%: +$49
• After-tax cash flow: $9,638/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: Richmond County · 404,174 people
• City population: 7,731,280
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 26,497
• Household income: $83,947
• Rent vs Own: 34.8% rent · 65.2% own
• Severe rent burden: 1198.0

Population outlook (Richmond County) Hauer SSP2

• Today (2025): 482,784 people
• By 2030: 481,831 · -0.2%
• By 2040: 473,159 · -2.0%
• By 2050: 457,242 · -5.3%
• By 2075: 408,029 · -15.5%
• By 2100: 341,459 · -29.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: Hispanic / Latino 38% Black 33% Two or more races 17% White 15% Asian 10%
• Hispanic origin (detail): Mexican 5% Puerto Rican 19% Dominican 5%
• Common ancestry: Romanian 2% Italian 1% Swiss 1%
• Foreign-born: 26% · Canada, China, Jamaica
• Languages at home: 57% English-only · Spanish 25% Other Indo-European 6% Chinese 3%

Political lean MEDSL · Richmond

• 2024 margin: Strong R (+29.8) · D 35.1% · R 64.9%
• 2008→2024 swing: -25.7pp toward R · 2008: -4.0pp · 2024: -29.8pp
• All cycles: 2024: R+29.8 2020: R+14.9 2016: R+16.8 2012: D+0.8 2008: R+4.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -121.86%
• Current HPI: 369.2771
• 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

4 events — show timeline

• 2025-11-12 Pending — SIBORMLS
• 2025-11-12 Relisted — SIBORMLS
• 2025-11-01 Contingent — SIBORMLS
• 2025-10-29 Listed $600,000 SIBORMLS

Property tax history

+7.4%/yr

Latest (2025): $5,187 · +6.0% YoY. Source: county tax records.